National Bank NZ: The facts

The National Bank NZ is located in New Zealand and is part of ANZ National Bank Limited. This in turn, is a wholly-owned subsidiary of the Australia and New Zealand Banking Group Limited (ANZ) based in Melbourne. The bank has a long tradition being founded in 1872 and the first branches appeared the following year in Wellington, Auckland and Christchurch.

History

The National Bank NZ soon took over 13 branches of a failing institution called the Bank of Otago and they proved to be a useful source of valuable faming contacts. It established a pattern of rural banking to both personal and business customers. Within 100 years, the bank opened it's 100th branch and in 1972, it extended its range of services to include wholesale banking. The farming link was further cemented in 1992 when it took over the Rural Bank and again in 1998 with the purchase of the Countrywide Banking Corporation. A year later, these two banks fully merged, consolidating both their operating systems and personnel. In December 2003, their owners Lloyds TSB sold the bank to ANZ Banking Group, but even today as part of a major Australasian financial group, they remain very much focused on New Zealand. The National Bank's Black Horse logo however dates back to it's connection to Lloyds.

Services

As well as the branch network, National Banks can be found on the web (Nationalbank.co.nz). The National Bank online is split into three clear areas: personal, business and rural. Like it's parent ANZ Banking online, it provides clear information about the available products. The personal banking division offers home and personal loans, credit cards and investments as well as banking options such as online, mobile phone banking and touchtone banking. The business side of the operation not only offers the traditional facilities but also gives free advice on improving cash flow, forecasting and marketing. Business workshops are another addition to their range. The rural arm of the bank helps farmers with their day to day banking needs and is also a source for lending, investments and insurance. To make full use of the service, customers need to create a National Bank NZ login by completing a quick online form and following it up with a freephone telephone call.