Skip to main content

Story: Banking and finance

The Bank of New Zealand and the Colonial Bank

The Bank of New Zealand and the Colonial Bank

The New Zealand government became a majority owner of the Bank of New Zealand after it nearly collapsed in 1894. Later, the Bank of New Zealand took over the equally vulnerable Colonial Bank, and in 1895 the two banks again required government assistance.

Using this item

Alexander Turnbull Library

Reference: A-312-6-034

by William Blomfield

Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.

All images & media in this story

How to cite this page

David Tripe, Banking and finance – Banking and finance to 1984, Te Ara – the Encyclopedia of New Zealand, https://teara.govt.nz/en/cartoon/24625/the-bank-of-new-zealand-and-the-colonial-bank (accessed 24 June 2026).

Story by David Tripe, published 26 February 2010.