SBS Bank

SBS Bank is a New Zealand registered bank 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.

Not to be confused with the British Special Boat Service.

SBS Bank
TypeMutual bank
IndustryBanking
FoundedMarch 23, 1869 (1869-03-23)
Headquarters
Invercargill
,
New Zealand
Area served
New Zealand
Key people
Mark McLean (CEO)
ProductsBanking
Insurance
Financial services
Property
Total assets$2.54 billion
Number of employees
280+ (2018)
Divisions2
Websitewww.sbsbank.co.nz

It uses the prefix 03 for its account numbers which is the same as Westpac Bank NZ because they use the same 'lines'. The bank's head office is based in Invercargill.

History

The bank was founded in 1869 as the Southland Building, Land and Investment Society. Seven years later in 1876 it was renamed as Southland Building and Investment Society and Bank of Deposit.

One of the founders James Walker Bain became the society's president for the next 30 years.[1]

In 1995 the name of the bank officially changed Southland Building Society and in 2008 to SBS Bank.[2]

In 2010 Hastings Building Society (HBS) joined with SBS Bank and in November 2015 HBS Bank amalgamated with SBS Bank.

References
  1. "Obituary". Otago Witness. No. 2379. 5 October 1899. p. 45. Retrieved 7 June 2016.
  2. "SBS Bank History – Celebrating over 143 Years". About SBS. SBS Bank. Retrieved 22 October 2019.


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