Rabobank opts in to deposit guarantee scheme

Rabobank New Zealand, which owns RaboPlus, has opted in to the New Zealand Government's deposit guarantee scheme. "Financial security is of paramount concern to New Zealand banking customers and people want to know their money is safe," said RaboPlus General Manager Mike Health "RaboPlus is a division of the only bank in New Zealand, Rabobank, to hold Triple A credit ratings from both Standard & Poor's and Moody's. The bank has a long history of conservative banking practice and we welcome a scheme that seeks to provide additional assurance to our customers and complements the stability and security that RaboPlus affords," Heath said. New Zealand's big four banks, ANZ-National, ASB, Westpac and BNZ, have AA credit ratings, while Kiwibank is AA minus.