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Financial Stability

About the New Zealand financial system

This section gives an overview of New Zealand's financial system which includes banks, non-bank lenders, licensed insurers and financial market infrastructures. Financial market infrastructures provide channels for clearing, settling and recording financial transactions.

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Financial system overview

New Zealand’s financial system is dominated by four large Australian-owned banks, with smaller banks and non-bank lenders providing alternative funding. The insurance sector helps manage risk, while financial market infrastructures ensure seamless payments and transactions.

The banking sector

New Zealand currently has 27 registered banks, with four large Australian-owned banks (ANZ, ASB, BNZ and Westpac) responsible for 84% of bank lending. The five New Zealand-owned banks account for 10% of bank lending.

Non-bank lending institutions

Non-bank lending institutions (NBLIs) include both non-bank deposit takers and non-deposit-taking finance companies. They make up just under 3% of intermediated credit and are mainly focused on the business and consumer sectors.

Insurance sector

There are 84 licensed insurers currently operating in New Zealand. This is made up of both private and government-owned insurers.

Financial market infrastructure

Financial market infrastructures provide channels for the clearing, settling or recording of payments, securities, derivatives or other financial transactions.