List of banks in New Zealand

Incorporated in New Zealand

According to the latest data from the Reserve Bank of New Zealand (RBNZ), as of 07 November 2025, there are 15 banks incorporated in New Zealand.[1] Following the enactment of the Deposit Takers Act 2023, all of these locally incorporated institutions are covered by the Depositor Compensation Scheme (DCS).[2]

Among these banks, ANZ, ASB, BNZ and Westpac are considered the "Big Four".

Retail bank rankings

Presented below is a ranking of retail bank based on CET1 capital accumulation within all local banking subsidiaries as of September 2025.

Common Equity Tier 1 (CET1) capital, as defined under the Basel III framework, represents the highest quality and most loss-absorbing form of a bank’s capital, consisting mainly of common shares and retained earnings; unlike total assets, which indicate the size of a bank’s balance sheet, CET1 reflects its core financial strength and is widely regarded as the most reliable measure of a bank’s solvency and resilience under stress.

Incorporated outside New Zealand

According to the latest data from the Reserve Bank of New Zealand (RBNZ), as of 07 November 2025, there are 12 banks incorporated outside operating as branches within the country.[1] Under the regulatory framework established by the Deposit Takers Act 2023, these overseas-incorporated branches are not covered by the Depositor Compensation Scheme (DCS).

Total assets

The data presented in the following table is compiled from official Reserve Bank of New Zealand (RBNZ) statistics and the formal financial statements of individual banks[3], including those not currently integrated into RBNZ primary statistical outputs. Under RBNZ regulatory requirements, institutions operating both a local branch and a subsidiary are categorized as Dual Registered Bank. To ensure a comprehensive representation of these entities activities, the financial statements of the Auckland Branch have been consolidated with those of the subsidiary banks, reflecting the total New Zealand-based operations as a single reporting unit.