SBS Bank is a bank incorporated in New Zealand, established in 1869. In October 2008, it gained bank incorporation and Southland Building Society became SBS Bank. It is a 100% New Zealand owned registered bank, retaining the common building social structure.

The bank has a credit rating of BBB.

It uses the prefix 03 for its account number, which is the same as Westpac Bank New Zealand, as they use the same "line". The bank's head office is located in Invercargill.

SBS Head Office

History

SBS Bank was established in 1869 when one of its founders, James Walker Bain, walked 204 kilometers from Dunedin to Invercargill. The bank was established in 1869 as Southland Building, Land and Investment Society. Seven years later, in 1876, it was renamed Southland Building and Investment Society and Bank of Deposit. The purpose of the bank was to provide people with a safe place to store their money and to help them obtain a mortgage and own their own home.

One of the founders, James Walker Bain, became President of the Society for the next 30 years.

In 1995, the name of the bank was officially changed to Southland Building Society, and in 2008 it was renamed SBS Bank.

In 2010, Hastings Building Society (HBS) merged with SBS Bank, and in November 2015, HBS Bank merged with SBS Bank.

Sponsorship

SBS Bank sponsors a wide range of local groups and clubs. These include Southland Sharks, Highlanders (Rugby Union), Stadium Southland, Invercargill Golf Club, Academy Southland, Southland Stags, Ronald McDonald House South Island and Invercargill Musical Theatre.

Subsidiaries

SBS has several subsidiaries that together make up the SBS Group. Offering products ranging from personal loans to wealth management, insurance and KiwiSaver.

Subsidiaries include Finance Now (which provides a wide range of personal loans, including car loans and holiday loans), SBS Insurance (which provides home, property and car insurance and a range of personal insurance including life and income protection) and SBS Wealth (which manages over $1.40 billion for over 20,000 New Zealanders by providing private wealth services. Lifestages KiwiSaver Scheme and Lifestages Investment Fund)