![]() ![]() The City branch building was 83 years old but assessed to be an earthquake risk. The Frankleigh Park branch was closed in 2012, the Merrilands branch on 25 July 2014, and the City branch in October 2014. ![]() In 1989 it changed its name to TSB Bank Ltd. The savings bank was vested as a limited liability company (under the name Taranaki Savings Bank Limited) on 9 September 1988, nine days after the other 13 trustee banks were vested in their successor companies. In 1984 and again in 1986 the bank rejected the branding adopted by the other eleven trustee banks across New Zealand, and in 1988 when the trustee banks were corporatised under the Trustee Banks Restructuring Act 1988 the bank stood aside from the merger into a single Trust Bank, remaining (along with ASB Bank Ltd and Westland Bank) fiercely independent. In 1975, Taranaki Savings Bank was the first bank to offer free, interest-bearing cheque accounts and in 1981 the bank pioneered New Zealand's ATM Cashflow network with one ATM installed in each of the Hawera, Fitzroy, New Plymouth City and New Plymouth City Centre (now TSB Centre) branches. With the loosening of regulations on banking in the 1970s, the Bank's position was sufficiently sound for it to take maximum advantage of its new found freedom. In 1964 the first central Taranaki branch opened in Stratford, combined with a name change to Taranaki Savings Bank. In 1921 a second branch was opened in Fitzroy, and a third in Waitara in 1946. Eight years later the bank fell under the auspices of the Savings Bank Act 1858 designed to regulate the savings bank market. At the time the bank's accountant was paid an annual salary of £20, so the deposit was a considerable sum. The New Plymouth Savings Bank was established in 1850 and received its first deposit on 28 September 1850 from Waitera te Karei with a deposit of £34. TSB also operates TSB Foreign Exchange from 14 branches around the country. The bank is owned by the Toi Foundation (formerly the TSB Community Trust) which distributes the income it receives from the bank back into the New Zealand community. It was originally one of twelve trustee banks in New Zealand, but when nine banks decided to amalgamate as Trust Bank, TSB Bank stood aside and remained an independent institution and has since expanded its business across the country. It provides retail banking and related financial services to individuals and companies. As of June 2022, it was the seventh largest bank in New Zealand, with a market share in terms of assets of 1.4%. It has 25 branches across the country but is heavily focused on the Taranaki region where 12 of its branches are located. TSB Bank Ltd (originally known as the Taranaki Savings Bank) trading as TSB, is a New Zealand bank with headquarters in New Plymouth. ![]()
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