TSB Bank Ltd (originally known as the Taranaki Savings Bank) trading as TSB, is a New Zealand
bank
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 ...
with headquarters in
New Plymouth
New Plymouth ( mi, Ngāmotu) is the major city of the Taranaki region on the west coast of the North Island of New Zealand. It is named after the English city of Plymouth, Devon from where the first English settlers to New Plymouth migrated. ...
. It has 25 branches across the country but is heavily focused on the
Taranaki
Taranaki is a region in the west of New Zealand's North Island. It is named after its main geographical feature, the stratovolcano of Mount Taranaki, also known as Mount Egmont.
The main centre is the city of New Plymouth. The New Plymouth Dist ...
region where 12 of its branches are located. As of June 2022, it is the seventh largest bank in New Zealand, with a market share in terms of assets of 1.4%.
It provides
retail banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...
and related financial services to individuals and companies. It was originally one of twelve trustee
banks in New Zealand
This is a list of banks in New Zealand.
Central Bank
List of Banks
See also
*List of banks in Oceania
References
External links
Reserve Bank of New Zealand - Register of registered banks in New Zealand
{{Oceania topic, List of ban ...
, but when nine banks decided to amalgamate as
Trust Bank
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trus ...
, TSB Bank stood aside and remained an independent institution and has since expanded its business across the country. The bank is owned by the Toi Foundation (formerly the TSB Community
Trust
Trust often refers to:
* Trust (social science), confidence in or dependence on a person or quality
It may also refer to:
Business and law
* Trust law, a body of law under which one person holds property for the benefit of another
* Trust (bus ...
) which distributes the income its receives from the bank back into the New Zealand community.
In addition to banking TSB Bank Ltd operates TSB Realty, with three branches in
Ōkato
Ōkato is a small town in rural Taranaki, New Zealand. It is situated about 25 minutes drive around the coast from New Plymouth on State Highway 45. Oakura is 12 km to the north-east, and Warea is 9 km to the south-west. The place of ...
,
Bell Block and New Plymouth. TSB also operates TSB Foreign Exchange from 14 branches around the country.
History
The New Plymouth Savings Bank was established in 1850 and received its first
deposit on 28 September 1850 from Waitera te Karei with a deposit of £34. At the time the bank's accountant was paid an annual salary of £20, so the deposit was a considerable sum. Eight years later the bank fell under the auspices of the ''Savings Bank Act 1858'' designed to regulate the savings bank market.
In 1921 a second branch was opened in
Fitzroy Fitzroy or FitzRoy may refer to:
People As a given name
*Several members of the Somerset family (Dukes of Beaufort) have this as a middle-name:
**FitzRoy Somerset, 1st Baron Raglan (1788–1855)
** Henry Charles FitzRoy Somerset, 8th Duke of Beau ...
, and a third in
Waitara in 1946. In 1964 the first central Taranaki branch opened in
Stratford, combined with a name change to Taranaki Savings Bank.
With the loosening of
regulation
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For ...
s on banking in the 1970s, the Bank's position was sufficiently sound for it to take maximum advantage of its new found freedom. In 1975, Taranaki Savings Bank was the first bank to offer free, interest-bearing cheque accounts and in 1981 the bank pioneered New Zealand's
ATM Cashflow network with one ATM installed in each of the
Hawera, Fitzroy,
New Plymouth City and New Plymouth City Centre (now TSB Centre) branches.
In 1984 and again in 1986 the bank rejected the branding adopted by the other eleven trustee banks across New Zealand, and in 1988 when the trustee banks were corporatised under the Trustee Banks Restructuring Act 1988 the bank stood aside from the merger into a single
Trust Bank
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trus ...
, remaining (along with
ASB Bank Ltd and
Westland Bank) fiercely independent. The savings bank was vested as a limited liability company (under the name Taranaki Savings Bank Limited) on 9 September 1988, nine days after the other 13 trustee banks were vested in their successor companies. In 1989 it changed its name to TSB Bank Ltd.
The
Frankleigh Park
Frankleigh Park is a suburb of New Plymouth, in the western North Island of New Zealand. It is located to the south of the city centre.''Wise's New Zealand guide'' (1969) Dunedin: H. Wise & Co., p.68. The suburb is built around the site of early ...
branch was closed in 2012, the
Merrilands
Merrilands is a suburb of New Plymouth, in the western North Island of New Zealand. It is located to the south-east of the city centre. The Waiwhakaiho River runs past Merrilands to the east, and Te Henui Stream runs past to the west.
Demographic ...
branch on 25 July 2014, and the City branch in October 2014. The City branch building was 83 years old but assessed to be an earthquake risk. This building was the bank's former headquarters and still bore the old name "New Plymouth Savings Bank".
Sponsorship
TSB Bank sponsors a number of organisations and has naming rights to many of them. Some of these include:
* TSB Bank Wallace Arts Centre, which opened in 2010 at
Pah Homestead
The Pah Homestead is a historic home located in the suburb of Hillsborough in Auckland, New Zealand. It is owned by the Auckland Council, and is currently used as an art gallery, housing the James Wallace Art Trust's collection of New Zealand ar ...
in Auckland. It houses the James Wallace Art Trust's collection of New Zealand art, which is valued at
NZ$
The New Zealand dollar ( mi, tāra o Aotearoa; sign: $, NZ$; code: NZD) is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within New Zea ...
50 million.
*
TSB Bank Festival of Lights
* TSB Bank New Zealand Surf Festival
*
TSB Stadium
TSB Stadium is an indoor stadium located adjacent to Pukekura Park in New Plymouth, Taranaki, New Zealand, with main vehicle access off Coronation Avenue.
Events
Events held at TSB Stadium include:
* Basketball – Taranaki Mountainairs ( NZNBL ...
* TSB Showplace
*
TSB Bank Arena
The TSB Bank Arena (formerly known as the Queens Wharf Events Centre) is an indoor arena in Wellington.
About
The arena hosts mainly basketball games and is the home arena for the Century City Saints and part-time home arena of the New Zealand ...
Ownership
Ownership of TSB Bank remains vested in the Toi Foundation (formerly named TSB Community
Trust
Trust often refers to:
* Trust (social science), confidence in or dependence on a person or quality
It may also refer to:
Business and law
* Trust law, a body of law under which one person holds property for the benefit of another
* Trust (bus ...
,
) with all profits staying in New Zealand.
References
External links
*
{{NZ Banks
Banks of New Zealand
Banks established in 1850
New Zealand companies established in 1850
Companies based in New Plymouth