1 March 2004

Banking registration changes

The Reserve Bank today announced that it has registered The Bank of Tokyo-Mitsubishi, Ltd. as a bank in New Zealand, and deregistered the Bank of Tokyo-Mitsubishi (Australia) Limited as a bank in New Zealand.

The Bank of Tokyo-Mitsubishi, Ltd. is a Japanese incorporated bank which will operate in New Zealand as a branch conducting the banking activities formerly carried out by a New Zealand branch of its Australian incorporated subsidiary, the Bank of Tokyo-Mitsubishi (Australia) Limited.

As a result, there has been no change to the number of registered banks operating in New Zealand, which remains at 18.

For further information contact
Paul Jackman
Head of Corporate Affairs
Ph 04 471 3671, 021 497 418, Jackmanp@rbnz.govt.nz