Banks cut advertising spend

ANZ stays on top, TSB Bank ups its spending while ASB Bank and Kiwibank make big ad cuts.

New Zealand banks shaved off their advertising spend in 2014, according to Nielsen rate card values.

They spent a combined $110.3 million, a drop of 7.5% from the previous year.

ASB Bank and Kiwibank made the biggest cuts, -39% and -33% respectively. Meanwhile, TSB Bank increased its spend 28.9%.

However, ANZ continues to be biggest bank advertiser, with $45.5 million spent in 2014 – more than the combined spending of ASB, BNZ and Westpac ($30.5 million).

Banks and their ad agencies:

ANZ – Whybin\TBWA, True

TSB Bank – Special

BNZ – Colenso BBDO

ASB – Saatchi & Saatchi

Kiwibank – Assignment

Westpac – DDB

See 2014's biggest spenders here.