List of banks in New Zealand
This is a list of banks in New Zealand.
Central bank
[edit source]The Reserve Bank of New Zealand (RBNZ), headquartered in Wellington, was established in 1934.
Registered banks
[edit source]Incorporated in New Zealand
[edit source]According to the latest data from the Reserve Bank of New Zealand, as of 7 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
[edit source]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
[edit source]According to the latest data from the Reserve Bank of New Zealand, as of 7 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.
| 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
[edit source]The data presented in the following table is compiled from official Reserve Bank of New Zealand 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
[edit source]According to the latest data from the Reserve Bank of New Zealand, 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 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
[edit source]References
[edit source]- 1 2 "Registered banks in New Zealand". www.rbnz.govt.nz. 28 February 2022. Retrieved 28 December 2025.
- 1 2 "Deposit takers that offer DCS-protected deposits". www.rbnz.govt.nz. 22 April 2025. Retrieved 28 December 2025.
- 1 2 "Bank-Financial-Strength-Dashboard-Data.xlsx". bankdashboard.rbnz.govt.nz. Retrieved 28 December 2025.
- 1 2 "Disclosure Statement HY2025" (PDF). www.jpmorgan.com. Retrieved 28 December 2025.
- 1 2 "Mar 2025 - Disclosure Statement" (PDF). www.nz.bk.mufg.jp. Retrieved 28 December 2025.
- 1 2 "Disclosure statement for the six months ended 30 June 2025" (PDF). 30 June 2025.
- 1 2 "30 June 2025 Disclosure Statements" (PDF). 30 June 2025.
- 1 2 "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.
