This study presents a novel approach in risk assessment of river bank failure along large rivers such as the gigantic Jamuna, Ganges and Padma Rivers in Bangladesh. The study fulfills the research gap that has never been accomplished before. The new approach determines the hazard of river bank failure by using flow velocity at the river toe, while other previous studies had not. The hazard is determined for the river flood of various return periods. Based on the estimated hazard, 27 bank failure-prone locations are identified. Two types of vulnerability are considered. One at a macro level in which vulnerability and risk of population and assets are determined. Another is at a household level in which four severe bank failure locations are selected from the 27 locations. The analysis shows that all 27 locations will be under very high risk when they encounter a 100-year return period flood, especially at the locations in the vicinity of the confluence of Jamuna and Ganges Rivers; and immediately further downstream of the confluence along Padma River. The outcome of this study provides risk warning to concerned authorities and local people for prioritizing measures to reduce losses and damages.