Independence you can rely on

When the government proposed a merger of all 12 independent New Zealand banks back in 1985, we knew it wouldn’t be in the best interests of our customers. 

The pressure to merge was intense – from the other banks, and the government. But we stood firm. The merger went ahead without us. But within a few years it faltered and was sold off to a big Aussie bank.

So how did it work out for us? We grew stronger, with a goal to help New Zealanders get ahead, and are still making decisions in the best interests of our customers today.

Along the way we’ve been recognized for our customer service, and putting you first is just as important as it always has been.


 

Here are just some of our milestones

1850

New Plymouth Savings Bank established by Governor in Chief, Sir George Grey. The Bank was created as a way to provide the people of New Plymouth with independence, giving them a self-reliant bank unsupported by government expenditure or British aid. Business was run out of an office at the New Plymouth Police Station. 

The first deposit was made by Waitera Te Karei, who rode 100KM along beach and coastline from Mokau to make a deposit of 35 pounds.

1860

First branch opened in New Plymouth.

1964

The Bank's name was changed to Taranaki Savings Bank as it grew across the region. 

1972

The Bank installed their first computers.

1975

First bank in New Zealand to offer free, interest-bearing cheque accounts.

1976

First bank in New Zealand to research, develop and use bank-wide, real time computer processing.

1978

The Bank reached $50 million in deposits.

1981

First bank in New Zealand to develop ATMs.

1984

The financial sector began to deregulate as Labour took government.

1986

The deregulation prompted a merger between other Trustee Savings Banks, and many of New Zealand’s banks became owned by overseas interests. The Bank fought for independence, ensuring it remained %100 New Zealand owned.

1988

TSB Community Trust was established as the Bank's Shareholder. The Bank also became the first to use employee-written software to form the most modern and sophisticated information system in the Southern Hemisphere at the time.

1989

Taranaki Savings Bank renamed to TSB Bank.

1994

The Bank reached $500 million in deposits.

1996

The Bank became the only %100 New Zealand owned and independent bank. TSB Bank Direct was established to allow customers to easily bank outside of the Taranaki region.

1999

The Bank reached $1 billion in deposits. TSB Bank Loan Direct was established for customers wanting to lend from the Bank outside the region.

2001

TSB Bank Home Loan Centre opened in Christchurch.

2002

TSB Bank Home Loan Lounge opened in Newmarket, Auckland.

2003

The Bank's lending portfolio reached $1 billion.

2004

The Bank reached $2 billion in deposits.

2005

Branch opened in Wellington.

2006

The Bank reached $2.5 billion in deposits and opened a branch in Hamilton.

2007

Branches opened in Tauranga and Hastings.

2008

The Bank reached $3 billion in deposits and opened branches in Auckland Central, Takapuna, and Palmerston North.

2009

The Bank reached $3.5 billion in deposits and opened branches in Napier and Christchurch.

2010

The Bank reached $4 billion in deposits and opened a branch in Nelson. To celebrate, the Bank's 160th Birthday,  TSB Bank museum was opened and From Faith to Fortune – The TSB Story 1850-2010 was published.

2011

TSB Bank branch is opened in Newmarket.

2013

The Bank reached $5 billion in deposits. The Bank was named Financial Institution of the Year by the Roy Morgan Customer Satisfaction Survey.

2014

The Bank was named Financial Institution of the Year for the second time 2014 by the Roy Morgan Customer Satisfaction Survey.

2015

The Bank was awarded the 2015 Canstar Blue Most Satisfied Customers in Banking award.

2016

Branches opened in NorthWest and Botany, Auckland.

2017

The Bank reached $6 billion in deposits. To better reflect a growing nationwide presence, the Bank rebranded and changed its name to TSB.