SBS Bank

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Not to be confused with the British Special Boat Service.

SBS Bank
Mutual ownership
Industry Banking
Founded 23 March 1869
Headquarters Head office based in Invercargill, New Zealand
Area served
New Zealand
Products banking
insurance
financial services
property
Total assets $2.54 billion
Number of employees
280+
Divisions 2
Website www.sbsbank.co.nz

SBS Bank is a registered bank in New Zealand which was founded in 1869. In October 2008 it gained bank registration and the Southland Building Society became SBS Bank. It is a 100% New Zealand owned registered bank that has retained a mutual building society structure. It uses the prefix 03 for its account numbers which is the same as Westpac Bank NZ because they use the same 'lines'.

History[edit]

Initially, when founded in 1869, SBS Bank was called Southland Building, Land and Investment Society but was renamed as Southland Building and Investment Society and Bank of Deposit in 1876.[1] For the first 30 years, James Walker Bain was the society's president.[2] The name of the bank officially changed to SBS Bank in 1995.[1] In 2010 Hastings Building Society joined with SBS Bank and in November 2015 HBS Bank amalgamated with SBS Bank.

References[edit]

  1. ^ a b "SBS Bank History – Celebrating over 143 Years". About SBS. SBS Bank. Retrieved 23 July 2013. 
  2. ^ "Obituary". Otago Witness (2379). 5 October 1899. p. 45. Retrieved 7 June 2016. 

External links[edit]