Reserve Bank loosens usage of word ‘bank’
All licensed deposit-takers will be able to refer to use the “bank” in their name from late 2028, with industry reaction being positive overall towards the Reserve Bank of New Zealand’s decision.

The move comes after consultation last year and loosens up the hitherto tight restrictions surrounding usage of the words “bank”, “banker” and “banking”. The Reserve Bank of New Zealand (RBNZ) received 12 submissions on the matter. ⌘ Read more