TSB Bank Ltd (originally Known As Taranaki Savings Bank) Is A New Zealand Bank Headquartered In New Plymouth. It Has 25 Branches Across The Country, But Is Mainly Concentrated In The Taranaki Area, Where 12 Of Its Branches Are Located. As Of June 2022, It Is The Seventh Largest Bank In New Zealand, With A Market Share Of 1.4% In Assets.
It Provides Retail Banking And Related Financial Services To Individuals And Companies. It Started As One Of Twelve Custodian Banks In New Zealand, But TSB Bank Was Set Aside And Remained An Independent Institution When Nine Banks Decided To Merge Into A Trust Bank, And Has Since Expanded Its Operations Across The Country. The Bank Is Owned By The Toi Foundation (formerly TSB Community Trust), Which Distributes The Income Received From The Bank To The New Zealand Community.
TSB Also Operates The TSB Foreign Exchange Business Through 14 Branches Spread Across The Country
History
The New Plymouth Savings Bank Was Founded In 1850 And Received Its First Deposit From Waitera Te Karei On 28 September 1850, With A Deposit Of £34. At The Time, The Bank Accountant's Annual Salary Was £20, So The Deposit Was A Considerable Sum. Eight Years Later, The Bank Fell Under The Auspices Of The Savings Bank Act 1858, Which Was Intended To Regulate The Savings Bank Market.
In 1921, A Second Branch Was Opened In Fitzroy And A Third In Waitara In 1946. In 1964, The First Taranaki Central Branch Opened In Stratford And Was Renamed Taranaki Savings Bank.
With The Deregulation Of Banking In The 1970s, The Bank Was In A Strong Enough Position To Make The Most Of Its Newfound Freedom. In 1975, Taranaki Savings Bank Became The First Bank To Offer Free Interest-bearing Checking Accounts. In 1981, The Bank Pioneered New Zealand's ATM Cash Flow Network, Installing One ATM Each At Branches In Hāwera, Fitzroy, New Plymouth City, And New Plymouth City Centre (now TSB Centre).
In 1984 And 1986, The Bank Rejected The Brand Identity Adopted By 11 Other Custodian Banks In New Zealand, And In 1988, When The Trustee Bank Was Corporatized Under The Trustee Bank Restructuring Act 1988, The Bank Exited And Merged Into A Single Trust Bank, Leaving The Rest (along With ASB Bank Limited And Westland Bank) Very Independent. The Savings Bank Was Granted A Limited Liability Company (under The Name Taranaki Savings Bank Limited) On September 9, 1988, Nine Days After The Other 13 Custodian Banks Were Vested In Its Successor Company. In 1989, It Was Renamed TSB Bank Ltd.
Old Logo Used Until 2017
Frankleigh Park Branch Closed In 2012, Merrilands Branch Closed On July 25, 2014, And City Branch Closed In October 2014. City Branch Is 83 Years Old, But Was Assessed As Earthquake Risk. The Building Was The Bank's Former Headquarters And Still Uses The Old Name "New Plymouth Savings Bank" To This Day.
In Addition To Banking, TSB Bank Ltd Has Operated TSB Realty Since Around 1990, With Three Branches In Kato, Bell Block And New Plymouth. Bayleys Taranaki Acquired TSB Realty In October 2020.
Sponsorship
TSB Bank Sponsors A Number Of Organisations And Holds Naming Rights To Many Of Them. Some Of These Include:
- TSB Bank Wallace Centre For The Arts, Which Opened In 2010 At Pah Homestead In Auckland. It Houses The James Wallace Art Trust's New Zealand Art Collection, Valued At 50 Million New Zealand Dollars.
- TSB Bank Festival Of Lights
- TSB Bank New Zealand Surf Festival
- TSB Stadium
- TSB Exhibition Ground
- TSB Bank Arena
Ownership
TSB Bank Remains Owned By The Toi Foundation Formerly Known As TSB Community Trust, And All Profits Remain In New Zealand.
