This is a list of banks in New Zealand.
Central bank The Reserve Bank of New Zealand (RBNZ), 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, as of 7 November 2025, there are 15 banks incorporated in New Zealand. Following the enactment of the Deposit Takers Act 2023, all of these locally incorporated institutions are covered by the Depositor Compensation Scheme (DCS).
Among these banks, ANZ, ASB, BNZ and Westpac are considered the "Big Four". + Banks incorporated in New Zealand Bank name Headquarters EstablishedANZ Bank New ZealandAuckland1 April 1987ASB BankAuckland11 May 1989Bank of Baroda (New Zealand)Auckland1 September 2009Bank of China (New Zealand)Auckland21 November 2014Bank of India (New Zealand)Auckland31 March 2011Bank of New ZealandAuckland1 April 1987China Construction Bank (New Zealand)Auckland15 July 2014Heartland BankAuckland17 December 2012Industrial and Commercial Bank of China (New Zealand)Auckland19 November 2013KiwibankWellington29 November 2001Rabobank New ZealandHamilton7 July 1999Southland Building SocietyInvercargill7 October 2008The Co-operative BankWellington26 October 2011TSB BankNew Plymouth8 June 1989Westpac New ZealandAuckland31 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.
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. + Retail bank ranked by CET1 capital (as of September 2025)BankCET1 cap. (NZ$m)CET1 ratioANZ Bank New Zealand18,185.612.9%Bank of New Zealand13,025.513.6%ASB Bank11,845.614.3%Westpac New Zealand9,958.012.0%Kiwibank2,624.011.6%Rabobank New Zealand2,527.315.9%Heartland Bank1,162.013.8%TSB Bank812.815.8%Southland Building Society535.414.4%China Construction Bank (New Zealand)365.220.3%Industrial and Commercial Bank of China (New Zealand)354.617.7%Bank of China (New Zealand)351.716.3%The Co-operative Bank265.715.9%Bank of India (New Zealand)64.338.3%Bank of Baroda (New Zealand)54.165.1%
Incorporated outside New Zealand 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. Under the regulatory framework established by the Deposit Takers Act 2023, these overseas-incorporated branches are not covered by the Depositor Compensation Scheme. + Banks incorporated outside the New Zealand Bank name Headquarters EstablishedAustralia and New Zealand Banking Group5 January 2009Bank of China29 March 2018China Construction Bank Corporation21 December 2017Citibank, N.A.22 July 1987Commonwealth Bank of Australia23 June 2000Industrial and Commercial Bank of China18 May 2020JPMorgan Chase Bank, N.A.1 October 2007Kookmin Bank14 July 1997MUFG Bank1 March 2004Cooperatieve Rabobank U.A.(trading as Rabobank Nederland)1 April 1996The Hongkong and Shanghai Banking Corporation22 July 1987Westpac Banking Corporation1 April 1987
Total assets 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, 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.
+ Ranking of bank by total assets as of June 2025Notes:‡: 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)1Australia and New Zealand Banking Group‡205,738.5142,652.0ANZ Bank New Zealand205,506.8142,652.02Commonwealth Bank of Australia‡138,345.989,205.1ASB Bank135,163.589,226.53Bank of New Zealand136,404.887,929.74Westpac Banking Corporation‡134,263.780,045.8Westpac New Zealand123,948.580,193.65Kiwibank40,659.630,336.76Cooperatieve Rabobank U.A.‡20,351.77,359.2Rabobank New Zealand16,658.17,133.97TSB Bank9,551.48,570.58JPMorgan Chase Bank, N.A. Auckland Branch8,353.9986.79Bank of China‡7,197.42,775.0Bank of China (New Zealand)3,815.42,349.610Southland Building Society6,676.74,472.511MUFG Bank Auckland Branch6,436.6(March 2025)2,820.0(March 2025)12HSBC Bank Auckland Branch6,161.93,430.613Heartland Bank5,892.84,359.214Industrial and Commercial Bank of China‡4,842.61,015.1Industrial and Commercial Bank of China (New Zealand)2,611.81,015.515China Construction Bank Corporation‡4,622.7405.5China Construction Bank (New Zealand)2,517.6410.016The Co-operative Bank3,689.63,233.317Citibank, N.A. Auckland Branch3,012.81,394.918Kookmin Bank Auckland Branch254.8138.319Bank of India (New Zealand)184.4106.520Bank of Baroda (New Zealand)119.563.6
Non-bank deposit takers 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. 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.
+ Non-bank deposit takers in New Zealand Bank name Headquarters EstablishedChristian SavingsAuckland9 January 2017FE Investments (in receivership)Auckland16 March 2015Finance DirectAuckland13 February 2015First Credit Union IncorporatedHamilton3 May 2015General FinanceAuckland13 February 2015Gold Band FinanceChristchurch29 April 2015Heretaunga Building SocietyHastings23 December 2014Liberty FinancialAuckland17 April 2015Mutual Credit FinanceChristchurch27 March 2015Nelson Building SocietyNelson23 March 2015Police and Families Credit UnionWellington11 December 2014Unity Credit UnionHastings19 December 2014Wairarapa Building SocietyMasterton4 August 2015WelcomeHavelock North1 June 2025Xceda FinanceAuckland3 November 2015
See also List of banks in Oceania History of the banking sector in New Zealand
References
External links Reserve Bank of New Zealand - Register of registered banks in New Zealand Banks no longer registered in New Zealand - Reserve Bank of New Zealand