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The National Bank of New Zealand (NBNZ) is one of New Zealand's largest banks. It is a wholly-owned subsidiary of the Melbourne-based Australia and New Zealand Banking Group Limited (ANZ). Throughout much of its history, the National Bank has provided banking services to mainly rural, personal, and small business customers.
History
- 1872: NBNZ is founded in London as an overseas bank and shares many directors with Lloyds Bank.
- 1872: Establishes branches in Wellington, Auckland, and Christchurch. NBNZ acquires 13 branches from ailing Bank of Otago (1863-73).
- 1873: The National Bank of New Zealand (Ltd) Act establishes the National Bank of New Zealand and allows it the right to issue redeemable (in specie or gold) banknotes.
- 1919: Lloyds Bank acquires a small interest in NBNZ.
- 1966: Lloyds Bank purchases NBNZ outright.
- 1969: NBNZ establishes a branch in Rarotonga, Cook Islands.
- 1978: Head Office moves from London to Wellington.
- 1986: NBNZ sells its banking license in Rarotonga to European Pacific Banking Co.
- 1987: Merged with Southpac Investment Management Limited
- 1992: NBNZ purchases The Rural Bank Limited, the former New Zealand Government owned bank from Fletcher Challenge
- 1998: NBNZ purchases Countrywide Banking Corporation from Bank of Scotland.
- 2003: ANZ New Zealand purchases NBNZ from Lloyds TSB.
- 2005: Chief Executive Sir John Anderson retired. He had been Chief Executive of the National Bank since its acquisition of the Rural Bank and was head of the ANZ-National Bank's New Zealand operations.
The National Bank's distinctive Black Horse logo dates back to 1677 London when Humphrey Stockes adopts it as sign for his shop. Stokes is a goldsmith and 'keeper of the running cashes', an early term for banker, When Lloyds Bank takes over the site in 1884 it retains the horse as its symbol. The Black Horse becomes the symbol of the National Bank of New Zealand in 1978, when the bank transfers its Head Office from London to New Zealand.
External links
Sources
- *, Proposal Application by ANZ Banking Group New Zealand Limited
"National Bank of New Zealand"