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]
| Banks incorporated in New Zealand | ||||
| Notes: BIG4: Big Four retail banking group in New Zealand. Bank: Special status. The bank is undergoing closure or acquisition/integration. For details, please refer to the Notes. | ||||
| No. | Bank name | Headquarters | Established | SWIFT-BIC |
|---|---|---|---|---|
| Notes | ||||
| 1 | ANZ Bank New Zealand BIG4 | Auckland | 1 April 1987 | ANZBNZ22 |
| ANZ Bank New Zealand operates as a locally incorporated subsidiary of the Australia and New Zealand Banking Group (ANZ Group). | ||||
| 2 | ASB Bank BIG4 | Auckland | 11 May 1989 | ASBBNZ2A |
| ASB Bank operates as a locally incorporated subsidiary of the Commonwealth Bank of Australia. | ||||
| 3 | Bank of Baroda (New Zealand) | Auckland | 1 September 2009 | BARBNZ2A |
| 4 | Bank of China (New Zealand) | Auckland | 21 November 2014 | BKCHNZ22 |
| 5 | Bank of India (New Zealand) | Auckland | 31 March 2011 | BKIDNZ2A |
| 6 | Bank of New Zealand BIG4 | Auckland | 1 April 1987 | BKNZNZ22 |
| Bank of New Zealand operates as a locally incorporated subsidiary of the National Australia Bank. | ||||
| 7 | China Construction Bank (New Zealand) | Auckland | 15 July 2014 | PCBCNZ22 |
| 8 | Heartland Bank | Auckland | 17 December 2012 | HEATNZ22 |
| 9 | Industrial and Commercial Bank of China (New Zealand) | Auckland | 19 November 2013 | ICBKNZ2A |
| 10 | Kiwibank | Wellington | 29 November 2001 | KIWINZ22 |
| 11 | Rabobank New Zealand | Hamilton | 7 July 1999 | RABONZ22 |
| 12 | Southland Building Society | Invercargill | 7 October 2008 | SBSYNZ22 |
| 13 | The Co-operative Bank | Wellington | 26 October 2011 | BKNZNZ22 |
| 14 | TSB Bank | New Plymouth | 8 June 1989 | TSBANZ22 |
| 15 | Westpac New Zealand BIG4 | Auckland | 31 October 2006 | WPACNZ2W |
| Westpac New Zealand operates as a locally incorporated subsidiary of the Westpac Banking Corporation. | ||||
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]
| Retail bank ranked by CET1 capital (as of September 2025) | |||
| Notes: 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. | |||
| Rank | Bank | CET1 cap. (NZ$m) | CET1 ratio |
|---|---|---|---|
| 1 | ANZ Bank New Zealand | 18,185.6 | 12.9% |
| 2 | Bank of New Zealand | 13,025.5 | 13.6% |
| 3 | ASB Bank | 11,845.6 | 14.3% |
| 4 | Westpac New Zealand | 9,958.0 | 12.0% |
| 5 | Kiwibank | 2,624.0 | 11.6% |
| 6 | Rabobank New Zealand | 2,527.3 | 15.9% |
| 7 | Heartland Bank | 1,162.0 | 13.8% |
| 8 | TSB Bank | 812.8 | 15.8% |
| 9 | Southland Building Society | 535.4 | 14.4% |
| 10 | China Construction Bank (New Zealand) | 365.2 | 20.3% |
| 11 | Industrial and Commercial Bank of China (New Zealand) | 354.6 | 17.7% |
| 12 | Bank of China (New Zealand) | 351.7 | 16.3% |
| 13 | The Co-operative Bank | 265.7 | 15.9% |
| 14 | Bank of India (New Zealand) | 64.3 | 38.3% |
| 15 | 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).
| Banks incorporated outside the New Zealand | |||||
Notes:Bank: Special status. The bank is undergoing closure or acquisition/integration. For details, please refer to the Notes. | |||||
| No. | Headquarters | Bank name | Established | SWIFT-BIC | Notes |
|---|---|---|---|---|---|
| 1 |  Australia | Australia and New Zealand Banking Group | 5 January 2009 | ANZBAU3M | |
| 2 |  Mainland China | Bank of China | 29 March 2018 | BKCHNZ2A | |
| 3 | Mainland China | China Construction Bank Corporation | 21 December 2017 | PCBCNZ2A | |
| 4 |  United States | Citibank, N.A. | 22 July 1987 | CITINZ2X | |
| 5 | Australia | Commonwealth Bank of Australia | 23 June 2000 | CTBAAU2S | |
| 6 | Mainland China | Industrial and Commercial Bank of China | 18 May 2020 | ICBKNZ2A | |
| 7 | United States | JPMorgan Chase Bank, N.A. | 1 October 2007 | CHASNZ2A | |
| 8 |  South Korea | Kookmin Bank | 14 July 1997 | CZNBNZ2A | |
| 9 |  Japan | MUFG Bank | 1 March 2004 | BOTKNZ2A | |
| 10 |  Netherlands | Cooperatieve Rabobank U.A. trading as Rabobank Nederland | 1 April 1996 | RABONZ2W | |
| 11 |  Hong Kong | The Hongkong and Shanghai Banking Corporation | 22 July 1987 | HSBCNZ2A | |
| 12 | Australia | Westpac Banking Corporation | 1 April 1987 | WPACNZ2W | |
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 RegisteredBank. 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 2025 | |||
| 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 |
