PostBank was formed when the New Zealand Post Office (a former Government Department) was split up by the Postal Services Act 1987 into Post Office Bank Ltd (trading as PostBank), New Zealand Post Ltd (a Postal Services company) and Telecom Corporation of New Zealand Ltd (a telecommunications company).
PostBank Uganda, a financial services provider owned 100% by the Government of Uganda
Telecom was sold to two United States Baby Bells, and PostBank was sold to the Pacific banking conglomerate Australia and New Zealand Banking Group, ANZ.