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5 Oct 2025 15:50
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      Home > News > Politics

    The meaning of "bank" could be set to change

    The meaning of "bank" could be set to change


    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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