Banks in New Zealand

The New Zealand's banking sector is highly concentrated and dominated by large Australian banks through their New Zealand subsidiaries. Overall, the banks have more than 900 branches and 2,500 ATMs, and employ approximately 25,000 staff. The banking system's total assets amounted to over US$400 billion as of March 2021.

ANZ Bank New Zealand – The largest bank in the country with NZ$183 billion in total assets, NZ$121 billion in deposits, NZ$135 billion in loans and 9,000 employees. Headquartered in Auckland, it operates as a subsidiary of Melbourne-based ANZ Banking Group. ANZ shares are listed on The Australian Securities Exchange (ASX) and the New Zealand Stock Exchange (NZX).

ASB Bank Ltd – One of the leading commercial banks with about 110 branches and 260 ATMs across New Zealand. It was established in 1847 and operates as a subsidiary of Commonwealth Bank of Australia. Vittoria Shortt is CEO (Chief Executive Officer) of ASB Bank.

Bank of New Zealand (BNZ) – A subsidiary of National Australia Bank. It was established in 1861 and today operates through a network of about 170 branches and 630 ATMs. As of March 31, 2020, it had NZ$119 billion in total assets and NZ$73 billion in deposits.

Westpac New Zealand – One of the big four banks in New Zealand. It offers transaction and savings accounts, mortgages, auto loans, agribusiness lending, general and life insurance, credit cards, investments, KiwiSaver schemes as well as corporate banking, import and export services, online banking and more. It was the first bank to offer green home loans to New Zealanders.

Heartland Bank – One of the leading reverse mortgage providers in New Zealand and Australia. It offers award-winning products and services for retail and business customers, and rural sector. Headquartered in Auckland, it has more than 500 employees and $5 billion in total assets.

Kiwibank Limited, based in Wellington, is owned by New Zealand Government through New Zealand Post, the Accident Compensation Corporation and NZ Superannuation Fund. It provides financial services via PostShops (post offices) and bank’s branches.

SBS Bank (formerly Southland Building Society) – a 100% New Zealand owned bank providing current and savings accounts, home loans, life and general insurance, investments, mobile and online banking, and credit card services.

The Co-operative Bank, founded in 1928, provides services to more than 160,000 customers across New Zealand. As of March 2020, it had NZ$3 billion in total assets and NZ$2.4 billion in deposits. It has long-term issuer credit rating of BBB from Fitch.

TSB Bank (formerly Taranaki Savings Bank), established in 1850, is a 100% NZ owned and independent bank. Headquartered in New Plymouth, it operates 26 branches including 12 branches in Taranaki region. As of March 2020, it had NZ$8.2 billion in total assets, NZ$6.1 billion in loans and NZ$7.4 billion in deposits.

HSBC New Zealand, based in Auckland, provides a broad array of products and services for individuals and businesses. It offers transaction and multi-currency accounts, home loans, phone and online banking, credit cards, cash management, offshore and private banking, foreign exchange and more.

Bank of China (New Zealand) Ltd

Bank of Baroda (New Zealand) Ltd

Bank of India (New Zealand) Ltd

Citibank New Zealand

Kookmin Bank, Auckland Branch

China Construction Bank (New Zealand) Ltd

JPMorgan Chase Bank N.A.

Industrial and Commercial Bank of China (New Zealand)

MUFG Bank, Ltd (Auckland Branch)

Rabobank New Zealand