ASB Bank

The ASB Bank Limited ( ASB), based in Auckland, is the fourth largest branch and commercial bank in New Zealand. It is now 100 % owned by the Commonwealth Bank of Australia.

History

Originally known as Auckland Savings Bank, the bank was named in 1847 in the tradition of British Savings Banks ( savings bank ), or Penny Banks, founded. With the Trustee Banks Restructuring Order of 1988, all the Savings Banks in New Zealand were forced to accept the status of a normal company and this with far-reaching consequences.

While all Savings Banks joined forces and were sold in 1996 at the Westpac Banking Corporation, sold the owner of the bank, the ASB Charitable Trust, the renamed before the restructuring of ASB Bank Limited Bank, in 1989 with a 75 % share for 252 Mill. NZ $ at the Commonwealth Bank of Australia. In October 2000, followed by the remaining 25 % of 560 million NZ $.

Today

The ASB Bank operates 135 branches currently an extensive branch network in New Zealand and has over 1 million customers for its own account in 2009.

Swell

All sources of information and links in English

  • Anual Report 2008, ASB Bank Limited, Auckland, August 29, 2008
  • The Cyclopedia of New Zealand - Volume 2 - Auckland Provincial District, Cyclopedia Company Ltd, Wellington 1902..
  • ASB Bank - Business History Project - The University of Auckland - ( accessed on 17 August 2009)
Types of business entity International Securities Identification Number Chief Executive Officer
81999
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