ASB opts into deposit gaurantee scheme

ASB Bank Limited advises its intention to immediately opt into the New Zealand Deposit Guarantee Scheme announced by the Minister of Finance last night.

ASB operates within a sound banking system and is strong and well capitalised. It is one of only 20 banking groups in the world with a AA Stable credit rating or better issued by independent rating agency, Standard & Poor’s.

Most of the developed countries in the world now offer deposit guarantee schemes. The New Zealand Deposit Guarantee Scheme will provide additional assurance to our customers that their deposits are safe in these uncertain times. We therefore welcome the opportunity to enter into a Deed of Guarantee with the Crown and have already commenced the process to put this in place.