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Westpac New Zealand, known simply as Westpac, is a New Zealand bank that is a subsidiary of the Australian Westpac Banking Corporation. The bank is one of New Zealand's big four banks. It operates under the same brand as its parent but is operationally separated as required by the New Zealand banking regulator the Reserve Bank of New Zealand.
In Tonga, Bank of Hawaii sold its shares in Bank of Tonga to Westpac, giving Westpac 60% ownership of what is now Westpac Bank of Tonga. 2002: Westpac acquired BT and Rothschild Australia Asset Management. [7] 2004: The Reserve Bank of New Zealand required Westpac to incorporate its NZ branches
ANZ Bank New Zealand: 1 April 1987 New Zealand retail banking subsidiary Australia & New Zealand Banking Group: 28.1% (2022) [4] Auckland, New Zealand: ASB Bank: 11 May 1989 New Zealand retail banking subsidiary Commonwealth Bank: 17.2% (2022) [5] Auckland, New Zealand: Westpac New Zealand: 31 October 2006 New Zealand retail banking subsidiary ...
ANZ Bank New Zealand; Bank of Baroda; Bank of China; Bank of India; ... Westpac New Zealand; Nauru. Bank of Nauru; Bendigo Bank; Papua New Guinea. Central bank.
By 2024 New Zealand, the banking sector was dominated by four large Australian-owned banks, which are responsible for 85% of bank lending. These banks and their parent companies are: ANZ Bank New Zealand was formed in 1979 when ANZ (bank) incorporated its branches in New Zealand. In 1989 ANZ acquired PostBank.
Finally, in 1996 the community trusts sold Trust Bank New Zealand to Westpac Banking Corporation for $1.2 billion. The two banks merged as WestpacTrust, although the word trust was phased out by 2002. [17] From this time, ASB Bank (who had taken over Westland Bank) and TSB Bank became the only remaining "regional" banks.
It is a 100% New Zealand owned registered bank that has retained a mutual building society structure. The Bank has a BBB credit rating. It uses the prefix 03 for its account numbers which is the same as Westpac Bank NZ because they use the same 'lines'. The bank's head office is based in Invercargill. SBS Head Office
ANZ is also a leading bank in New Zealand as well as several Pacific Island Nations where it competes in many markets with fellow Australian bank Westpac. ANZ's arm in New Zealand is operated through a subsidiary company, ANZ National Bank, from 2003 to 2012, when it changed by ANZ Bank New Zealand upon merging the ANZ and National Bank brands.