ANZ continues to sit comfortably in the top spot, with a $63,675m gap in total asset value between first place and second place.

Westpac continues to hold second place, with assets increasing 2.0% to $135,501m and profit of $1253m. Of the big four banks, Westpac is the only one to report a profit after tax increase in 2025, increasing by 5.8% to $1,253m.

ASB has moved up to third place, reporting assets of $135,164m, an increase of 6.4% and profit of $1449m.

BNZ has slipped to fourth place, with a 0.5% increase in assets to reach $130,737m and profit of $1506m.

Among the big four banks, BNZ has the highest return on assets at 1.2%, while ASB leads in return on equity at 12.8%.

Kiwibank remains in fifth position, with assets increasing 10.9% to $40,660m – one of the strongest asset growth rates in the Index. However, its profit fell 5.4% to $191m.

Across the sector, cumulative profits for the Top 30 financial institutions increased by 10.6%, rising from $7886m in 2024 to $8723m in 2025. Cumulative equity across the Top 30 also increased by 5.8%, reaching $75,525m.

The financial institutions in the top eight remain unchanged from last year, reflecting continued stability at the upper end of the index.

Further down the rankings, SBS Bank has moved up to ninth place, rising from 11th in 2024. This shift causes HSBC to move down one position to 10th place, while MUFG drops out of the top 10 to 11th place.

As with previous years, it is noted that certain financial institutions may have released unaudited earnings announcements that are not reflected in the indices or the commentary above.