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6 Oct 2025 10:54
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      Home > News > Business

    The meaning of "bank" could be set to change

    The meaning of "bank" could be set to change

    5 October 2025
    The Reserve Bank's consulting on whether to allow all licensed deposit takers to call themselves a "bank".

    The word "bank" can currently only be used by New Zealand's 27 registered banks.

    The central bank is considering allowing others -- like 15 currently-licensed finance companies, building societies and credit unions -- to also use the word.

    Any change is likely to take effect in late 2028.

    © 2025 Newstalk ZB, NZCity


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