The Auckland Savings Bank was established on 5 June 1847, it was generally known as ASB, in the mid 1980's it changed its name to ASB Trust Bank, in 1986 it withdrew from the Trust Bank Group and became ASB Bank, following the passing of the Trustee Banks Restructuring Act in 1988 it became ASB Bank Ltd, since 2005 it has used the name ASB, though formally still being ASB Bank Ltd.