National Bank of New Zealand
Encyclopedia
The National Bank of New Zealand (NBNZ) often referred to as The National Bank is one of New Zealand
's largest bank
s. Throughout much of its history, the National Bank has provided banking services to mainly rural, personal, and small business customers. Its owner is ANZ National Bank Limited, the New Zealand subsidiary of Australia and New Zealand Banking Group. ANZ purchased it in 2003 from Lloyds TSB
who, earlier as Lloyds Bank
, had been sole owner since 1966.
The National Bank's distinctive Black Horse logo dates back to 1677 London when Humphrey Stockes adopted it as sign for his shop. Stokes was a goldsmith and 'keeper of the running cashes', an early term for banker. When Lloyds Bank took over the site in 1884 it retained the horse as its symbol. The Black Horse became the symbol of the National Bank of New Zealand in 1978 when the bank transferred its Head Office from London to New Zealand. When ANZ bought NBNZ, it also bought the right to continue to use the Black Horse logo for seven years.
and sponsors all the home tournaments of the country. It also used to sponsor Black Caps, the national men's cricket team. The National Bank sponsors the National Bank of New Zealand Netball Cup
. Its television advertisements have used the music of Vivaldi
's The Four Seasons
.
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
's largest bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s. Throughout much of its history, the National Bank has provided banking services to mainly rural, personal, and small business customers. Its owner is ANZ National Bank Limited, the New Zealand subsidiary of Australia and New Zealand Banking Group. ANZ purchased it in 2003 from Lloyds TSB
Lloyds TSB
Lloyds TSB Bank Plc is a retail bank in the United Kingdom. It was established in 1995 by the merger of Lloyds Bank, established in Birmingham, England in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810...
who, earlier as Lloyds Bank
Lloyds Bank
Lloyds Bank Plc was a British retail bank which operated in England and Wales from 1765 until its merger into Lloyds TSB in 1995; it remains a registered company but is currently dormant. It expanded during the nineteenth and twentieth centuries and took over a number of smaller banking companies...
, had been sole owner since 1966.
History
- 1872: NBNZ was founded in London as an overseas bank and shared many directors with Lloyds BankLloyds BankLloyds Bank Plc was a British retail bank which operated in England and Wales from 1765 until its merger into Lloyds TSB in 1995; it remains a registered company but is currently dormant. It expanded during the nineteenth and twentieth centuries and took over a number of smaller banking companies...
. - 1873: NBNZ Established branches in WellingtonWellingtonWellington is the capital city and third most populous urban area of New Zealand, although it is likely to have surpassed Christchurch due to the exodus following the Canterbury Earthquake. It is at the southwestern tip of the North Island, between Cook Strait and the Rimutaka Range...
, AucklandAucklandThe Auckland metropolitan area , in the North Island of New Zealand, is the largest and most populous urban area in the country with residents, percent of the country's population. Auckland also has the largest Polynesian population of any city in the world...
, and ChristchurchChristchurchChristchurch is the largest city in the South Island of New Zealand, and the country's second-largest urban area after Auckland. It lies one third of the way down the South Island's east coast, just north of Banks Peninsula which itself, since 2006, lies within the formal limits of...
and acquired 13 branches from ailing Bank of Otago (1863-73), see William LarnachWilliam LarnachWilliam James Mudie Larnach was a New Zealand businessman and politician. He is known for building Larnach Castle and for his suicide.- Early career :Larnach was born in the Hunter Valley, north of Sydney, Australia...
. - 1873: The National Bank of New Zealand (Ltd) Act gave NBNZ the right to issue banknotes redeemable (in specieMoneyMoney is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past,...
or gold). - 1919: Lloyds Bank acquired a small interest in NBNZ.
- 1966: Lloyds Bank purchased NBNZ outright. National Bank and the Bank of New ZealandBank of New ZealandBank of New Zealand is one of New Zealand’s largest banks and has been operating continuously in the country since the first office was opened in Auckland in October 1861 followed shortly after by the first branch in Dunedin in December 1861...
established joint data processing services, which they combined as Databank Systems LimitedDatabank Systems LimitedDatabank Systems Limited was the name of a not-for-profit "off balance sheet" company set up by a consortium of competing banks in New Zealand, to operate on what is nowadays termed a "Shared Services Agency" basis, to provide computing resources for the consortium members...
in 1967. - 1969: NBNZ established a branch in RarotongaRarotongaRarotonga is the most populous island of the Cook Islands, with a population of 14,153 , out of the country's total population of 19,569.The Cook Islands' Parliament buildings and international airport are on Rarotonga...
, Cook IslandsCook IslandsThe Cook Islands is a self-governing parliamentary democracy in the South Pacific Ocean in free association with New Zealand...
. - 1978: NBNZ moved its head office from LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
to Wellington. - 1986: NBNZ sold its banking license in Rarotonga to European Pacific Banking Co.
- 1987: NBNZ acquired Southpac Investment Management Limited
- 1992: NBNZ purchased The Rural Bank Limited, the former New Zealand Government owned bank, from Fletcher ChallengeFletcher ChallengeFletcher Challenge is a now defunct multinational corporation from New Zealand, formed in 1981 by the merger of Fletcher Holdings, Challenge Corporation and Tasman Pulp and Paper...
- 1998: NBNZ purchased Countrywide Banking CorporationCountrywide Bank (New Zealand)Countrywide Bank was a Reserve Bank-registered retail bank operating throughout New Zealand. It was created from Countrywide Building Society, which itself emerged from the original Auckland Co-operative Terminating Building Society created in March 1897....
from Bank of ScotlandBank of ScotlandThe Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the second oldest surviving bank in what is now the United Kingdom, and is the only commercial institution created by the Parliament of Scotland to...
. - 2003: ANZ purchased NBNZ from Lloyds TSBLloyds TSBLloyds TSB Bank Plc is a retail bank in the United Kingdom. It was established in 1995 by the merger of Lloyds Bank, established in Birmingham, England in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810...
. - 2005: Chief Executive Sir John AndersonJohn Anderson (New Zealand businessman)Sir John Anthony Anderson, KBE was the Chief Executive and Director of ANZ National Bank Limited and after retiring at the end of 2005, become the chair of Television New Zealand in April 2006, the former employer of the controversial TV-host Paul Henry...
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. Graham Hodges became the new Chief Executive Officer. - 2008: New CEO Mike Smith as part of ANZ Group
The National Bank's distinctive Black Horse logo dates back to 1677 London when Humphrey Stockes adopted it as sign for his shop. Stokes was a goldsmith and 'keeper of the running cashes', an early term for banker. When Lloyds Bank took over the site in 1884 it retained the horse as its symbol. The Black Horse became the symbol of the National Bank of New Zealand in 1978 when the bank transferred its Head Office from London to New Zealand. When ANZ bought NBNZ, it also bought the right to continue to use the Black Horse logo for seven years.
Advertising and sponsorship
The National Bank is the sponsor of New Zealand CricketNew Zealand Cricket
New Zealand Cricket, formerly the New Zealand Cricket Board, is the governing body for professional cricket in New Zealand. Cricket is the most popular and highest profile summer sport in New Zealand....
and sponsors all the home tournaments of the country. It also used to sponsor Black Caps, the national men's cricket team. The National Bank sponsors the National Bank of New Zealand Netball Cup
National Bank Cup
The National Bank Cup was the pre-eminent national netball competition in New Zealand between 1998 and 2007. From 2008, it was replaced by the ANZ Championship.-Format:...
. Its television advertisements have used the music of Vivaldi
Antonio Vivaldi
Antonio Lucio Vivaldi , nicknamed because of his red hair, was an Italian Baroque composer, priest, and virtuoso violinist, born in Venice. Vivaldi is recognized as one of the greatest Baroque composers, and his influence during his lifetime was widespread over Europe...
's The Four Seasons
The Four Seasons (Vivaldi)
The Four Seasons is a set of four violin concertos by Antonio Vivaldi. Composed in 1723, The Four Seasons is Vivaldi's best-known work, and is among the most popular pieces of Baroque music. The texture of each concerto is varied, each resembling its respective season...
.