TSB is a 100% New Zealand-owned bank.
TSB Bank Ltd (originally known as the Taranaki Savings Bank) trading as TSB, is a New Zealand bank with headquarters in New Plymouth. It has 25 branches across the country but is heavily focused on the Taranaki region where 12 of its branches are located. As of June 2022, it was the seventh largest bank in New Zealand, with a market share in terms of assets of 1.4%. Ownership of TSB Bank remains vested in the Toi Foundation (formerly named TSB Community Trust, with all profits staying in New Zealand.
Source: wikipedia.org/TSB_(New_Zealand)
“From humble beginnings in New Plymouth, we’ve gone from strength to strength to now offer a truly nationwide service. So it doesn’t matter if you’re in Cape Reinga or Bluff, we’ll help you reach your goals.”
Source: www.tsb.co.nz/about/history
Woke Rating
As of May 2026 we changed TSB’s rating from woke lite to woke, as they have become more committed to Pride Week and LGBT+. TSB is woke, however there is still less wokeness than the major banks (ASB, ANZ, Westpac, BNZ, Kiwibank), for the time being.
Woke Summary
- Virtue Signalling – there is evidence of virtue signalling.
- Gender Ideology & LGBTQ – some evidence LGBTQI+ support.
- Diversity Equity Inclusion (DEI) – no evidence of DEI.
- Critical Race Theory – no evidence of CRT.
- Climate Change – TSB is developing an ESG (Environmental, Social and Governance) strategy. The bank has not published any emissions reduction targets.
Woke Policies
Wokeness and virtue signalling distracts a company from its core business, which is to make a profit for shareholders while delivering excellent, affordable products and services to its customers. Businesses should not be distracted from this core purpose, otherwise there will be unnecessary costs which are ultimately passed onto consumers. Woke ideologies are typically unfriendly towards the traditional family unit.
There is little evidence of woke policies from TSB Bank.
Virtue Signalling
Evidence of cultural virtue signalling by TSB Bank…
TSB has a Māori Strategy and is embedding elements of te ao Māori (Māori worldview) into every level of its business.
Gender Ideology & LGBTQ+
Update as of April 2026: “TSB and Pride Taranaki come together for Pride Week learning event”
TSB worked with Pride Taranaki to run a “Lunch & Learn” event “focused on deepening understanding of LGBTQIA+ communities and building more inclusive experiences for customers and employees”.
TSB CEO, Kerry Boielle, said this…
“When our people show up to learn together, it strengthens our culture and helps us better support our customers and communities,” says Boielle.
“Pride Week is an opportunity to recognise and celebrate our LGBTQIA+ communities, but our responsibility for inclusion extends well beyond one week. It’s important our TSB customers and communities experience respect, understanding, and safety every time they interact with us.”
TSB and Pride Taranaki come together for Pride Week learning event
Social media posts from 2019 that supported Rainbow Pride…
We also found some support for Pink Shirt Day on TSB’s social media.
Diversity, Equity and Inclusion (DEI)
TSB has an established Diversity & Inclusion committee and employee-led network groups, supporting year‑round initiatives that promote belonging, cultural competency, and inclusive practice across the organisation.
Climate Change
TSB is developing an ESG strategy. The bank has not published any emissions reduction targets.
Source: TSB Annual Report (for the year ended 31 March 2023)
Positive Policies & Activities
Wellbeing Tick – TSB became an inaugural partner of Wellbeing Tick, an accreditation programme to enhance the wellbeing of all staff.
Parental Leave – TSB tops up employee’s salary for up to six months while on paid parental leave, offering five days paid special leave for primary carers and partners to attend medical appointments during or after pregnancy and four weeks paid leave for the secondary carer.
Bereavement Leave – TSB offers bereavement leave, extending from three to five paid days.
Lifestyle leave – TSB gives employees the option to purchase 1-2 weeks extra annual leave each year.
Source: TSB Annual Report (for the year ended 31 March 2023)
TSB also supports numerous worthy charities, not-for-profit organisations, and local community activities:
Note – This page was updated as of 20th May 2024. Please contact us if you’ve discovered other relevant information about SBS Bank or other businesses pushing woke agendas. You should also contact us if you discover some positively woke-free businesses.