Credit ratings of banks in New Zealand
Under section 80 of the Reserve Bank of New Zealand Act 1989, the Reserve Bank requires registered banks to obtain and maintain a current credit rating applicable to their long-term senior unsecured obligations payable in New Zealand, in New Zealand dollars. Registered banks must publish their credit rating in quarterly disclosure statements.
A credit rating is an independent opinion on the capability and willingness of a financial institution to repay its debts. It provides a simple summary measure of relative risk that is relatively easy to understand. The availability of a rating allows depositors, and other creditors, to assess the relative riskiness of individual banks and to make informed investment decisions. A credit rating requirement is also likely to enhance incentives for banks to operate their business prudently in order to avoid a rating downgrade.
Registered banks' credit ratings
The ratings in the table below are obtained from banks' quarterly disclosure statements and credit rating agency reports.
The Reserve Bank has made reasonable efforts to ensure that a rating recorded on this page is the most up-to-date rating applicable to the bank concerned. However, the Reserve Bank cannot guarantee that a rating will be the most up-to-date in all circumstances.
Total number of registered banks: 27
| Name of registered bank | Name of credit rating agency and rating | ||
|---|---|---|---|
| Standard & Poor's | Fitch | Moody's | |
|
ANZ Bank New Zealand Limited |
AA- |
A+ |
A1 |
|
ASB Bank Limited |
AA- |
A+ |
A1 |
|
Australia and New Zealand Banking Group Limited (B) |
AA- |
A+ |
Aa3 |
|
Bank of Baroda (New Zealand) Limited |
- |
BBB- |
- |
|
Bank of China Limited (B) |
A |
A |
A1 |
|
Bank of China (New Zealand) Limited |
A |
- |
A1 |
|
Bank of India (New Zealand) Limited |
BB+ |
- |
- |
|
Bank of New Zealand |
AA- |
A+ |
A1 |
|
China Construction Bank Corporation (B) |
A |
A |
A1 |
|
China Construction Bank (New Zealand) Limited |
- |
A |
A1 |
|
Citibank N A (B) |
A+ |
A+ |
Aa3 |
|
Commonwealth Bank of Australia (B) |
AA- |
A+ |
Aa3 |
|
Heartland Bank Limited |
- |
BBB |
- |
|
Industrial and Commercial Bank of China (New Zealand) Limited |
A |
- |
A1 |
| Industrial and Commercial Bank of China Limited (B) |
A | - | A1 |
|
JPMorgan Chase Bank NA (B) |
A+ |
AA |
Aa2 |
|
Kiwibank Limited |
A |
AA |
A1 |
|
Kookmin Bank (B) |
A+ |
A |
Aa3 |
|
Coöperatieve Rabobank U.A. trading as Rabobank Nederland (B) |
A+ |
A+ |
Aa3 |
|
Rabobank New Zealand Limited |
A |
- |
- |
|
Southland Building Society |
- |
BBB |
- |
|
MUFG Bank, Ltd. |
A |
A- |
A1 |
|
The Co-operative Bank Limited |
- |
BBB |
- |
|
The Hongkong and Shanghai Banking Corporation Limited (B) |
AA- |
AA- |
Aa3 |
|
TSB Bank Limited |
- |
A- |
- |
|
Westpac Banking Corporation (B) |
AA- |
A+ |
Aa3 |
|
Westpac New Zealand Limited |
AA- |
A+ |
A1 |
List of registered banks in New Zealand including their date of registration and link to the banks' websites.
