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Post Office Bank Limited
Post Office Savings Bank, or very briefly PostBank (trading name of Post Office Bank Limited), was a bank owned by the New Zealand Government as the government's postal savings system. The bank was established in 1867. It became PostBank in 1987 and was disestablished and the branches were rebranded when it was acquired by Australia and New Zealand Banking Group in 1989. History The Post Office Savings Bank was set up in 1867 to encourage thrift by ordinary people, and was immediately successful. One of the benefits of the Post Office Savings Bank was that customers could deposit and withdraw money at any branch of the bank. Business was conducted from post offices which were located in towns and cities all over New Zealand. By the 1910s customers were asking for the ability to withdraw their funds by cheque but successive postmasters-general refused to allow this, stating that the Post Office Savings Bank was not the same as a commercial bank, having as its objective thrift ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Owned Enterprise
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and develo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Telecom New Zealand
Spark New Zealand Limited is a New Zealand telecommunications company providing fixed-line telephone services, a mobile phone network, internet access services, and (through its Spark Digital division) ICT services to businesses. It was known as Telecom New Zealand until it was rebranded with its current name in 2014. It has operated as a publicly traded company since 1990. Spark is the second-largest wireless carrier in New Zealand, with 2.3 million subscribers as of July 2017. Spark is one of the largest companies by value on the New Zealand Exchange (NZX). As of 2007, it was the 39th largest telecommunications company in the OECD. The company is part of New Zealand Telecommunications Forum. Telecom New Zealand was formed in 1987 from a division of the New Zealand Post Office, and privatised in 1990. In 2008, Telecom was operationally separated into three divisions under local loop unbundling initiatives by central government – Telecom Retail; Telecom Wholesale; and Cho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1989 Disestablishments In New Zealand
File:1989 Events Collage.png, From left, clockwise: The Cypress Street Viaduct, Cypress structure collapses as a result of the 1989 Loma Prieta earthquake, killing motorists below; The proposal document for the World Wide Web is submitted; The Exxon Valdez oil tanker runs aground in Prince William Sound, Alaska, causing a large Exxon Valdez oil spill, oil spill; The Fall of the Berlin Wall begins the downfall of Communism in Eastern Europe, and heralds German reunification; The United States United States invasion of Panama, invades Panama to depose Manuel Noriega; The Singing Revolution led to the independence of the Baltic states of Estonia, Latvia, and Lithuania from the Soviet Union; The stands of Hillsborough Stadium in Sheffield, Yorkshire, where the Hillsborough disaster occurred; 1989 Tiananmen Square protests and massacre, Students demonstrate in Tiananmen Square, Beijing; many are killed by forces of the Chinese Communist Party., 300x300px, thumb rect 0 0 200 200 1989 Loma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 1989
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1867
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of New Zealand
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
An Encyclopaedia Of New Zealand
''An Encyclopaedia of New Zealand'' is an official encyclopaedia about New Zealand, published in three volumes by the New Zealand Government in 1966. Edited by Alexander Hare McLintock, the parliamentary historian, assisted by two others, the encyclopaedia included over 1,800 articles and 900 biographies, written by 359 contributing authors. The encyclopaedia is more comprehensive, and more representative of minorities, than previous New Zealand reference works, such as the vanity press ''The Cyclopedia of New Zealand'' published around sixty years earlier, but not as representative as the later ''Dictionary of New Zealand Biography''. A number of women were included as representing firsts, including Kate Edger. Its publication met with an enthusiastic response; within two months almost all of its initial print run of 34,000 copies had sold. After the last 3,000 copies sold, it was never reprinted, more due to the non-commercial priorities of the government-run printing office ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Post Limited
NZ Post ( mi, Tukurau Aotearoa), shortened from New Zealand Post, is a state-owned enterprise responsible for providing postal service in New Zealand. The New Zealand Post Office, a government agency, provided postal, banking, and telecommunications services in New Zealand until 1987. By the 1980s, however, economic difficulties made the government reconsider how it delivered postal services. For example, in 1987–1988, the postal division lost NZ$50 million. In 1985, the Labour Party government under Prime Minister David Lange launched a review, led by New Zealand Motor Corporation CEO Roy Mason and KPMG New Zealand Chairman Michael Morris, to find solutions to the Post Office's problems. In its final report, the team recommended transforming the New Zealand Post Office into three state-owned enterprises. The government in 1986 decided to follow the Mason-Morris review's recommendations, and passed through parliament the State-Owned Enterprises Act, which corporatised several ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (economics), profit for the Government, government, control monopoly of the Private sector, private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of Profit (economics), financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wholly Owned Subsidiary
A subsidiary, subsidiary company or daughter company is a company (law), company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability company, limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kiwibank
Kiwibank Limited is a New Zealand state-owned bank and financial services provider with approximately 4% of market share in terms of assets. Kiwibank is owned by the New Zealand Government and provides some of its banking services through its branches. Kiwibank branches were previously located within ''PostShops'' (post offices). The company's Board of Directors was chaired by former New Zealand Prime Minister Jim Bolger from 2001–2010. The current Chair of the Board of Directors is Jon Hartley. History Earlier state-owned banks Kiwibank is similar in many respects to an earlier post office-based bank owned by the New Zealand Government. The New Zealand Post Office Bank was established in 1867. In 1987, the bank was corporatised and separated from New Zealand Post and Telecom New Zealand to form a stand-alone company – PostBank. Then in 1989 PostBank was sold by the government to ANZ. Establishment period (2002–2010) The bank originated from Alliance Party policy du ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Post
NZ Post ( mi, Tukurau Aotearoa), shortened from New Zealand Post, is a state-owned enterprise responsible for providing postal service in New Zealand. The New Zealand Post Office, a government agency, provided postal, banking, and telecommunications services in New Zealand until 1987. By the 1980s, however, economic difficulties made the government reconsider how it delivered postal services. For example, in 1987–1988, the postal division lost NZ$50 million. In 1985, the Labour Party government under Prime Minister David Lange launched a review, led by New Zealand Motor Corporation CEO Roy Mason and KPMG New Zealand Chairman Michael Morris, to find solutions to the Post Office's problems. In its final report, the team recommended transforming the New Zealand Post Office into three state-owned enterprises. The government in 1986 decided to follow the Mason-Morris review's recommendations, and passed through parliament the State-Owned Enterprises Act, which corporatised several ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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