ASB Bank: Difference between revisions
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[[Image:Ponsonby Corner Branch Of ASB.jpg|thumb|right|236px|A branch in [[Ponsonby, New Zealand|Ponsonby]], [[Auckland City]].]] |
[[Image:Ponsonby Corner Branch Of ASB.jpg|thumb|right|236px|A branch in [[Ponsonby, New Zealand|Ponsonby]], [[Auckland City]].]] |
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'''ASB''' is a [[New Zealand]] bank owned by [[Commonwealth Bank of Australia|Commonwealth Bank]], which is listed on the [[Australian Stock Exchange]] ({{asx|CBA}}). It |
'''ASB''' is a [[New Zealand]] bank owned by [[Commonwealth Bank of Australia|Commonwealth Bank]], which is listed on the [[Australian Stock Exchange]] ({{asx|CBA}}). It provides a variety of financial services including retail, business, rural and institutional banking, funds management, as well as insurance through its [[Sovereign Limited|Sovereign]] arm, and investment and securities services through its '''ASB Group Investments''' and '''ASB Securities''' arms. ASB also operates [[BankDirect]], a branchless banking service that provides service via phone, [[Internet]], [[EFTPOS]] and [[Automated teller machine|ATM]]s only. |
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ASB participates in [http://www.pago.co.nz pago], pronounced "paygo", launched in November 2006, which is an electronic payment service that allows anyone with a New Zealand bank account to send cleared funds via mobile phone or the internet to another person or participating retailer in real-time. |
ASB participates in [http://www.pago.co.nz pago], pronounced "paygo", launched in November 2006, which is an electronic payment service that allows anyone with a New Zealand bank account to send cleared funds via mobile phone or the internet to another person or participating retailer in real-time. |
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Revision as of 02:21, 30 July 2012
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| Company type | Subsidiary |
|---|---|
| Industry | Banking Financial services Investment services |
| Founded | 5 June 1847 (as Auckland Savings Bank) |
| Headquarters | Auckland, New Zealand |
Area served | New Zealand |
Key people | Barbara Chapman, CEO |
| Products | Finance and insurance Consumer Banking Corporate Banking Investment Banking Investment Management Mortgages Credit Cards |
| Revenue |  NZ$1.607 billion (2011) [1] |
| Total assets | NZ$63.1 billion (2011)[1] |
Number of employees | 5,300 |
| Parent | Commonwealth Bank |
| Subsidiaries | Sovereign Limited, BankDirect |
| Website | www.asb.co.nz |
ASB is a New Zealand bank owned by Commonwealth Bank, which is listed on the Australian Stock Exchange (ASX: CBA). It provides a variety of financial services including retail, business, rural and institutional banking, funds management, as well as insurance through its Sovereign arm, and investment and securities services through its ASB Group Investments and ASB Securities arms. ASB also operates BankDirect, a branchless banking service that provides service via phone, Internet, EFTPOS and ATMs only.
ASB participates in pago, pronounced "paygo", launched in November 2006, which is an electronic payment service that allows anyone with a New Zealand bank account to send cleared funds via mobile phone or the internet to another person or participating retailer in real-time.
The bank has had a series of successful commercials with the Ira Goldstein character.
History
ASB began in 1847 as the Auckland Savings Bank. During the 1980s the association of savings banks amalgamated the local savings banks throughout New Zealand with ASB at their head, and adopted the name, ASB Trust Bank. In 1986, ASB withdrew from the Trust Bank and in 1987 became a full-fledged commercial bank under the name, ASB Bank. In 1988, the Government passed the Trustee Banks Restructuring Act, which enabled ASB to become a public company. In 1989, the owner of the bank, ASB Community Trust, sold 75% of the shares to Commonwealth Bank. In 1994, ASB amalgamated Westland Bank, its wholly owned subsidiary, which enabled it to operate on a truly national basis. In 1999, ASB Group acquired Sovereign Limited, a life insurance company, and the retail stockbroking and fixed income operations of Warburg Dillon Read. In 2000, Commonwealth Bank bought the remaining 25% of ASB's shares from the Trust. In 2005 the bank changed the ASB Bank brand to ASB to reflect the more integrated financial services provider that it had become.
See also
References
- ^ a b "ASB Annual Report 2011" (PDF). Retrieved 2012-07-27.