ASB Bank

ASB Bank (ASB)
legal form	Limited
founding	June 5, 1847 (opening)
Seat	Auckland , New Zealand
management	DM (Don) Elder ( CEO )
Number of employees	4700 2009
sales	NZD 5.011 billion in 2008
Branch	Finance, banking
Website	www.asb.co.nz

ASB Bank headquarters in Auckland

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

While all of the Savings Banks merged and were sold to Westpac Banking Corporation in 1996 , the owner of the bank, ASB Charitable Trust , sold the bank that had been renamed ASB Bank Limited prior to its restructuring in 1989 with a 75% stake for 252 million . NZ $ to the Commonwealth Bank of Australia . The remaining 25% followed in October 2000 for NZ $ 560 million.

today

The bank currently operates an extensive branch network in New Zealand with 135 branches and claims to have more than 1 million customers (2009).

literature

Annual Report 2008, ASB Bank Limited, Auckland, August 29, 2008
Auckland Provincial District . In: The Cyclopedia of New Zealand . Volume II . Cyclopedia Company Ltd , Christchurch 1902 (English).

Web links

Official website
ASB Bank - Business History Project - The University of Auckland - (accessed August 17, 2009)

Individual evidence

↑ ^a ^b ASB General Disclosure Statement, Anual Report 2008, ASB Bank Limited, Auckland, August 29, 2008
↑ ASB freezes pay for 3,500 staff (April 17, 2009) - New Zealand Herald - (accessed August 17, 2009)
^ Trustee Banks Restructuring Order 1988 - Legislation Government - (accessed August 19, 2009)
↑ Our History - ASB Bank Limited - (accessed August 19, 2009)

[gds2008-1] ASB General Disclosure Statement, Anual Report 2008, ASB Bank Limited, Auckland, August 29, 2008

[2] ASB freezes pay for 3,500 staff (April 17, 2009) - New Zealand Herald - (accessed August 17, 2009)

[3] Trustee Banks Restructuring Order 1988 - Legislation Government - (accessed August 19, 2009)

[4] Our History - ASB Bank Limited - (accessed August 19, 2009)