The National Bank of New Zealand

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The National Bank of New Zealand (NBNZ)
legal form Limited
founding August 15, 1872
resolution June 26, 2004
Reason for dissolution fusion
Seat Wellington
Branch Banking, finance

The National Bank of New Zealand (NBNZ) was a New Zealand commercial bank that was dissolved on June 26, 2004 and transformed into what was then ANZ Banking Group (New Zealand) Limited . Two days later this bank was renamed ANZ National Bank Limited and has been called ANZ Bank New Zealand Limited since October 30, 2012.

history

The bank was founded on August 15, 1872 by thirteen influential politicians and business people in London , including Thomas Gore Browne , former Governor of New Zealand, Charles Clifford , former Speaker of the New Zealand House of Representatives and three other personalities who were formerly active in New Zealand. The company's headquarters were set in London. However , the bank did not start operating in the British colony of New Zealand until a year later. The first branches were opened in Wellington , Auckland and Christchurch , with Wellington being chosen for the headquarters of the bank.

In November 1873, the National Bank of New Zealand took over all thirteen branches of the Bank of Otago, which operated only in Otago and had run into trouble . This gave the bank a base among farmers in the south and at the same time benefited from the region's economic boom caused by the Otago gold rush of 1861. In the same year, under the National Bank of New Zealand (Ltd) Act , the bank was granted the right to issue private banknotes.

The National Bank of New Zealand in Oamaru , Otago

1875 a balance of 1,240,781 was already £ reported, compared to the already active since 1861 Bank of New Zealand , who graduated as the time-largest bank with 4,416,515 £, a great start. In 1881 the bank's headquarters were moved to Dunedin . Just ten years later, in 1891, the bank was in trouble. The offers to the Bank of Australasia and later the Union Bank of Australia to merge were rejected by both. In the end, the National Bank could only be saved by the capital increase by the shareholders themselves. After Dunedin continued to fall back economically to the north of the country towards the end of the century , it was decided in 1894 to move the headquarters back to Wellington.

In 1966 the National Bank of New Zealand was bought by Lloyds Bank in London. The black horse, which still adorns the bank's logo today, was given to the National Bank by Lloyds as a licensed right of use when it moved its headquarters from London to Wellington in 1978. After the merger of the Lloyds Bank with the also British bank, the Trustee Savings Bank (TSB), in 1995, the National Bank became a subsidiary of the new Lloyds TSB . This in turn sold the National Bank of New Zealand in June 2004, due to the restructuring of its banking business to ANZ , then her daughter ANZ Banking Group (New Zealand) with the National Bank of New Zealand to ANZ National Bank brought together , but both banks operating on the New Zealand market continued to maintain their independence.

literature

Web links

  • Homepage . ANZ Bank New Zealand Ltd. ,accessed on December 1, 2018.
  • History . National Bank of New Zealand, archived from the original onJune 24, 2012; accessed on January 11, 2016(English, original website no longer available).

Individual evidence

  1. ↑ Kurt Beyer: National Banks to be rebranded ANZ . New Zealand Herald , September 26, 2012, accessed January 20, 2016 .
  2. ^ ANZ Bank New Zealand Limited (35976) Registered . In: Companies Office . Ministry of Business, Innovation & Employment , accessed December 14, 2018 .
  3. ^ Ken Matthews: The legal history of money in New Zealand. Reserve Bank of New Zealand, Bulletin Vol. 66 No. March 1, 2003.
  4. ↑ Rea Weston: Domestic and Multinational Banking. Croom Helm, London 1980, ISBN 0-85664-710-1