ANZ Amerika Samoa Bank
| ANZ Amerika Samoa Bank | |
| Formerly | Amerika Samoa Bank |
| Industry | Financial services |
| Founded | 1979 |
| Defunct | October 2022 |
| Headquarters | , |
| Services | Banking |
| Owner | ANZ |
| Website | [1] |
Amerika Samoa Bank (ASB) was a financial institution established in 1979 in American Samoa and the second-largest bank in the territory[1] with a 44 percent market share. At one point, it had one overseas branch in Honolulu that it opened in 1997 to serve Samoans in Hawaii.[1]
In 1999, Australia and New Zealand Banking Group (ANZ) acquired ASB and renamed it ANZ Amerika Samoa Bank (ANZ ASB).[2] The process was completed by 2001. ANZ ASB had two branches in Samoa and 10 ATMs. In 2007 the bank acquired Citizens Security Bank for $25 million. In 2010, it launched an internet banking service.[3]
On 31 March 2022 ANZ announced it would exit US community banking in Samoa. This resulted in the closure of all bank accounts in October 2022 and loans were transferred to MWW Financial Services LLC.[4] Before closure, the Governor of American Samoa criticised the bank for failing to make loans or invest in the community for a "very long time".[5]
References
- ^ a b Transforming the Economy of American Samoa: The economy. American Samoa Economic Advisory Commission. 2002. p. 342-343.
- ^ "Briefs: ANZ buys Samoa bank". The Age. December 17, 1999. p. 2 – via EBSCOHost.
- ^ "ANZ Amerika Samoa Bank launches internet banking". RNZ. March 30, 2010. Retrieved March 16, 2021.
- ^ "Important Information about ANZ in American Samoa | ANZ". www.anz.com. Retrieved July 11, 2024.
- ^ "Good bye ANZ — last day of business in the territory is today". www.samoanews.com. September 30, 2022. Retrieved July 11, 2024.
Sources
- Tschoegl, A.E. 2005. Foreign Banks in the Pacific: A Note. Journal of Pacific History.