Taranaki Savings Bank
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TSB Bank or the Taranaki Savings Bank is the only, non-government 100% New Zealand-owned bank (as of 1996). It changed its name from the New Plymouth Savings Bank to the Taranaki Savings Bank in 1964.
History
TSB Bank received its first deposit under the banner of the New Plymouth Savings Bank on the 28 September 1850 from Waitera te Karei. The deposited sum was 34 pounds. At the time the bank's accountant was paid an annual salary of 20 pounds, so the deposit was a considerable sum.
Branches were opened in Fitzroy and Waitara in 1921 and 1946 respectively, followed by the first branch outside the New Plymouth district, in Stratford in 1964, combined with a name change to Taranaki Savings Bank.
With the loosening of regulations on banking in the 1970s, the Bank's position was sufficiently sound for it to take maximum advantage of its newfound freedom. And when the industry was finally deregulated in the mid 1980s, TSB Bank was strong enough to stand aside from the amalgamation of the country's Trustee banks.
In 1975, TSB Bank was the first bank to offer free, interest-bearing cheque accounts and in 1981 they pioneered New Zealand's ATM or Automated teller machine Cashflow network.
Ownership
Ownership of TSB Bank remains vested in a community trust, with all profits staying in New Zealand.
Branches
There are 15 TSB Bank branches throughout the Taranaki region.
Website
| Retail banks of New Zealand | ||
|---|---|---|
| ANZ New Zealand - ASB Bank - Bank of New Zealand - Kiwibank - National Bank - RaboPlus - Superbank - TSB - Westpac | ||
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