Countrywide Bank (New Zealand)
Encyclopedia
Countrywide Bank was a Reserve Bank-registered retail bank operating throughout New Zealand
. It was created from Countrywide Building Society, which itself emerged from the original Auckland Co-operative Terminating Building Society created in March 1897.
Countrywide Bank registered as a bank in 1987 during a period of significant regulatory change in the New Zealand banking system. At the time of registration the bank's two major shareholders were Bank of Scotland
, a large Scottish bank headquartered in Edinburgh, and General Accident, a major general insurer headquartered in Perth, Scotland. The bank was listed on the New Zealand Stock Exchange.
In 1992 Countrywide Bank purchased the United Building Society
from the State Bank of South Australia
. At the time Countrywide was larger and has subsequently been described as much more efficient than United.
In 1998 The National Bank of New Zealand
, which itself was owned by Lloyds Bank UK, purchased Countrywide Bank from Bank of Scotland, which by this time had become the sole owner of the bank. The operations of the two banks were merged with a period of consolidation in the retail network that allowed National Bank customers to use Countrywide Bank branches even though the two banks were yet to merge their back-end computer networks. The combined branch network was then rationalised with the rebranding of all branches to the National Bank branding and the closure of surplus and duplicated branches.
Building societies merged or purchased by Countrywide Building Society/Countrywide Bank:
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
. It was created from Countrywide Building Society, which itself emerged from the original Auckland Co-operative Terminating Building Society created in March 1897.
Countrywide Bank registered as a bank in 1987 during a period of significant regulatory change in the New Zealand banking system. At the time of registration the bank's two major shareholders were Bank of Scotland
Bank of Scotland
The Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the second oldest surviving bank in what is now the United Kingdom, and is the only commercial institution created by the Parliament of Scotland to...
, a large Scottish bank headquartered in Edinburgh, and General Accident, a major general insurer headquartered in Perth, Scotland. The bank was listed on the New Zealand Stock Exchange.
In 1992 Countrywide Bank purchased the United Building Society
United Building Society
United Building Society was a New Zealand building society, and later a registered retail bank known as United Banking Group.United Building Society merged or purchased the operations of a number of smaller building societies including:...
from the State Bank of South Australia
State Bank of South Australia
The State Bank of South Australia was a bank owned by the Government of South Australia. Its collapse in 1991 was a major political event in South Australia...
. At the time Countrywide was larger and has subsequently been described as much more efficient than United.
In 1998 The National Bank of New Zealand
National Bank of New Zealand
The National Bank of New Zealand often referred to as The National Bank is one of New Zealand's largest banks. Throughout much of its history, the National Bank has provided banking services to mainly rural, personal, and small business customers. Its owner is ANZ National Bank Limited, the New...
, which itself was owned by Lloyds Bank UK, purchased Countrywide Bank from Bank of Scotland, which by this time had become the sole owner of the bank. The operations of the two banks were merged with a period of consolidation in the retail network that allowed National Bank customers to use Countrywide Bank branches even though the two banks were yet to merge their back-end computer networks. The combined branch network was then rationalised with the rebranding of all branches to the National Bank branding and the closure of surplus and duplicated branches.
Building societies merged or purchased by Countrywide Building Society/Countrywide Bank:
- Auckland Co-operative Terminating Building Society
- Central Union Permanent aka New Plymouth Investment and Loan Society
- Central Building Society, Palmerston North Co-op Building Society
- Consolidated Permanent Building Society
- Countrywide Permanent Building Society
- New Plymouth Investment and Loan Building Society
- Provident Investment and Building Society of Taranaki Building Society aka Countrywide Permanent Building Society
- Western Building Society Building Society aka Western Co-op, Western Co-op Terminating Building Society
- Western Co-operative Building Society
- Western Consolidated Permanent Building Society aka Consolidated Permanent Building Society and Feilding Permanent & Investment Society