Update on the Toi Foundation community consultation
In June 2026, Toi Foundation, TSB’s owner, announced a proposal for TSB to merge with Heartland Bank.
If the proposal proceeds, Toi Foundation would sell its 100% shareholding in TSB and become a shareholder in Heartland Group Holdings Limited, the owner of the proposed merged bank, TSB Heartland Bank.
Toi Foundation’s community consultation on the proposal closed on Wednesday 12 August 2026.
The Toi Foundation Trustees will now consider the feedback received through the consultation before deciding whether to proceed with the proposal.
For more information about the proposal and consultation process, visit www.toifoundation.org.nz.
For TSB customers, it's business as usual.