REG - ASB Bank Limited - ASB reaches agreement to settle CCCFA class action

Commonwealth Bank of AustraliaAnnouncement

07/10/2025 08:16

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RNS Number : 3535C  ASB Bank Limited  07 October 2025

ASB Bank Limited

7 October 2025

ASB reaches agreement to settle CCCFA class action

A settlement has been reached in relation to the Credit Contracts and Consumer
Finance Act 2003 (CCCFA) class action proceedings served on ASB Bank Limited
(ASB) in September 2021, with ASB agreeing to pay NZ$135,625,000. In agreeing
to resolve the litigation ASB makes no admission of liability.

The settlement is subject to approval by the High Court, and directions will
be sought from the Court regarding the process for notifying class members
about the settlement.

END

For further information, please contact:

Ben Steed, HO Corporate & Governance, ASB Bank Limited

asbsecretariat@asb.co.nz

 

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