List of banks in New Zealand
This is a list of banks in New Zealand.
Central Bank
The Reserve Bank of New Zealand, headquartered in Wellington, was established in 1934.
Registered banks
Incorporated in New Zealand
According to the latest data from the Reserve Bank of New Zealand (RBNZ), as of 07 November 2025, there are 15 banks incorporated in New Zealand.[1] Following the enactment of the Deposit Takers Act 2023, all of these locally incorporated institutions are covered by the Depositor Compensation Scheme (DCS).[2]
Among these banks, ANZ, ASB, BNZ and Westpac are considered the "Big Four".
| Bank name | Headquarters | Established |
|---|---|---|
| ANZ Bank New Zealand | Auckland | 1 April 1987 |
| ASB Bank | Auckland | 11 May 1989 |
| Bank of Baroda (New Zealand) | Auckland | 1 September 2009 |
| Bank of China (New Zealand) | Auckland | 21 November 2014 |
| Bank of India (New Zealand) | Auckland | 31 March 2011 |
| Bank of New Zealand | Auckland | 1 April 1987 |
| China Construction Bank (New Zealand) | Auckland | 15 July 2014 |
| Heartland Bank | Auckland | 17 December 2012 |
| Industrial and Commercial Bank of China (New Zealand) | Auckland | 19 November 2013 |
| Kiwibank | Wellington | 29 November 2001 |
| Rabobank New Zealand | Hamilton | 7 July 1999 |
| Southland Building Society | Invercargill | 7 October 2008 |
| The Co-operative Bank | Wellington | 26 October 2011 |
| TSB Bank | New Plymouth | 8 June 1989 |
| Westpac New Zealand | Auckland | 31 October 2006 |
Retail bank rankings
Presented below is a ranking of retail bank based on CET1 capital accumulation within all local banking subsidiaries as of September 2025.[3]
Common Equity Tier 1 (CET1) capital, as defined under the Basel III framework, represents the highest quality and most loss-absorbing form of a bank’s capital, consisting mainly of common shares and retained earnings; unlike total assets, which indicate the size of a bank’s balance sheet, CET1 reflects its core financial strength and is widely regarded as the most reliable measure of a bank’s solvency and resilience under stress.
| Bank | CET1 cap. (NZ$m) | CET1 ratio |
|---|---|---|
| ANZ Bank New Zealand | 18,185.6 | 12.9% |
| Bank of New Zealand | 13,025.5 | 13.6% |
| ASB Bank | 11,845.6 | 14.3% |
| Westpac New Zealand | 9,958.0 | 12.0% |
| Kiwibank | 2,624.0 | 11.6% |
| Rabobank New Zealand | 2,527.3 | 15.9% |
| Heartland Bank | 1,162.0 | 13.8% |
| TSB Bank | 812.8 | 15.8% |
| Southland Building Society | 535.4 | 14.4% |
| China Construction Bank (New Zealand) | 365.2 | 20.3% |
| Industrial and Commercial Bank of China (New Zealand) | 354.6 | 17.7% |
| Bank of China (New Zealand) | 351.7 | 16.3% |
| The Co-operative Bank | 265.7 | 15.9% |
| Bank of India (New Zealand) | 64.3 | 38.3% |
| Bank of Baroda (New Zealand) | 54.1 | 65.1% |
Incorporated outside New Zealand
According to the latest data from the Reserve Bank of New Zealand (RBNZ), as of 07 November 2025, there are 12 banks incorporated outside operating as branches within the country.[1] Under the regulatory framework established by the Deposit Takers Act 2023, these overseas-incorporated branches are not covered by the Depositor Compensation Scheme (DCS).
| Bank name | Headquarters | Established |
|---|---|---|
| Australia and New Zealand Banking Group | Australia | 5 January 2009 |
| Bank of China | China | 29 March 2018 |
| China Construction Bank Corporation | China | 21 December 2017 |
| Citibank, N.A. | United States | 22 July 1987 |
| Commonwealth Bank of Australia | Australia | 23 June 2000 |
| Industrial and Commercial Bank of China | China | 18 May 2020 |
| JPMorgan Chase Bank, N.A. | United States | 1 October 2007 |
| Kookmin Bank | South Korea | 14 July 1997 |
| MUFG Bank | Japan | 1 March 2004 |
| Cooperatieve Rabobank U.A. trading as Rabobank Nederland |
Netherlands | 1 April 1996 |
| The Hongkong and Shanghai Banking Corporation | Hong Kong | 22 July 1987 |
| Westpac Banking Corporation | Australia | 1 April 1987 |
Total assets
The data presented in the following table is compiled from official Reserve Bank of New Zealand (RBNZ) statistics and the formal financial statements of individual banks[3], including those not currently integrated into RBNZ primary statistical outputs. Under RBNZ regulatory requirements, institutions operating both a local branch and a subsidiary are categorized as Dual Registered Bank. To ensure a comprehensive representation of these entities activities, the financial statements of the Auckland Branch have been consolidated with those of the subsidiary banks, reflecting the total New Zealand-based operations as a single reporting unit.
| Notes: ‡: The reported financial data has been consolidated to include the accounts of both the auckland branch and the subsidiary bank. | |||
| Rank | Bank name | Total assets (NZ$m) | Total deposits (NZ$m) |
|---|---|---|---|
| 1 | Australia and New Zealand Banking Group‡ | 205,738.5 | 142,652.0 |
| ANZ Bank New Zealand | 205,506.8 | 142,652.0 | |
| 2 | Commonwealth Bank of Australia‡ | 138,345.9 | 89,205.1 |
| ASB Bank | 135,163.5 | 89,226.5 | |
| 3 | Bank of New Zealand | 136,404.8 | 87,929.7 |
| 4 | Westpac Banking Corporation‡ | 134,263.7 | 80,045.8 |
| Westpac New Zealand | 123,948.5 | 80,193.6 | |
| 5 | Kiwibank | 40,659.6 | 30,336.7 |
| 6 | Cooperatieve Rabobank U.A.‡ | 20,351.7 | 7,359.2 |
| Rabobank New Zealand | 16,658.1 | 7,133.9 | |
| 7 | TSB Bank | 9,551.4 | 8,570.5 |
| 8 | JPMorgan Chase Bank, N.A. Auckland Branch | 8,353.9[4] | 986.7[4] |
| 9 | Bank of China‡ | 7,197.4 | 2,775.0 |
| Bank of China (New Zealand) | 3,815.4 | 2,349.6 | |
| 10 | Southland Building Society | 6,676.7 | 4,472.5 |
| 11 | MUFG Bank Auckland Branch | 6,436.6[5] (March 2025) |
2,820.0[5] (March 2025) |
| 12 | HSBC Bank Auckland Branch | 6,161.9[6] | 3,430.6[6] |
| 13 | Heartland Bank | 5,892.8 | 4,359.2 |
| 14 | Industrial and Commercial Bank of China‡ | 4,842.6 | 1,015.1 |
| Industrial and Commercial Bank of China (New Zealand) | 2,611.8 | 1,015.5 | |
| 15 | China Construction Bank Corporation‡ | 4,622.7 | 405.5 |
| China Construction Bank (New Zealand) | 2,517.6 | 410.0 | |
| 16 | The Co-operative Bank | 3,689.6 | 3,233.3 |
| 17 | Citibank, N.A. Auckland Branch | 3,012.8[7] | 1,394.9[7] |
| 18 | Kookmin Bank Auckland Branch | 254.8[8] | 138.3[8] |
| 19 | Bank of India (New Zealand) | 184.4 | 106.5 |
| 20 | Bank of Baroda (New Zealand) | 119.5 | 63.6 |
Non-bank deposit takers
According to the latest data from the Reserve Bank of New Zealand (RBNZ), as of 29 April 2025, there are 15 non-bank deposit takers incorporated in New Zealand.[9] Following the enactment of the Deposit Takers Act 2023, all of these locally incorporated institutions are covered by the Depositor Compensation Scheme (DCS) except FE Investments.[2]
| Bank name | Headquarters | Established |
|---|---|---|
| Christian Savings | Auckland | 9 January 2017 |
| FE Investments (in receivership) | Auckland | 16 March 2015 |
| Finance Direct | Auckland | 13 February 2015 |
| First Credit Union Incorporated | Hamilton | 3 May 2015 |
| General Finance | Auckland | 13 February 2015 |
| Gold Band Finance | Christchurch | 29 April 2015 |
| Heretaunga Building Society | Hastings | 23 December 2014 |
| Liberty Financial | Auckland | 17 April 2015 |
| Mutual Credit Finance | Christchurch | 27 March 2015 |
| Nelson Building Society | Nelson | 23 March 2015 |
| Police and Families Credit Union | Wellington | 11 December 2014 |
| Unity Credit Union | Hastings | 19 December 2014 |
| Wairarapa Building Society | Masterton | 4 August 2015 |
| Welcome | Havelock North | 1 June 2025 |
| Xceda Finance | Auckland | 3 November 2015 |
See also
References
- ^ a b "Registered banks in New Zealand". www.rbnz.govt.nz. 28 February 2022. Retrieved 28 December 2025.
- ^ a b "Deposit takers that offer DCS-protected deposits". www.rbnz.govt.nz. 22 April 2025. Retrieved 28 December 2025.
- ^ a b "Bank-Financial-Strength-Dashboard-Data.xlsx". bankdashboard.rbnz.govt.nz. Retrieved 28 December 2025.
- ^ a b "Disclosure Statement HY2025" (PDF). www.jpmorgan.com. Retrieved 28 December 2025.
- ^ a b "Mar 2025 - Disclosure Statement" (PDF). www.nz.bk.mufg.jp. Retrieved 28 December 2025.
- ^ a b "Disclosure statement for the six months ended 30 June 2025" (PDF). 30 June 2025.
- ^ a b "30 June 2025 Disclosure Statements" (PDF). 30 June 2025.
- ^ a b "kbglobal banking" (PDF). kbglobal.kbstar.com. Retrieved 28 December 2025.
- ^ "Register of non-bank deposit takers in New Zealand". www.rbnz.govt.nz. 17 November 2021. Retrieved 28 December 2025.