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Illustrated Guide to Christchurch and Neighbourhood

Bank of New Zealand

Bank of New Zealand.

The Bank of New Zealand, whose premises occupy one of the most prominent sites in Christchurch, was the first local Bank established in the colony, and was brought into existence in 1861 to supply a long-felt and rapidly-increasing want, viz., that of a monetary institution, whose directors and shareholders being themselves New Zealand residents, would accordingly adopt a policy calculated to encourage colonial undertakings, and to keep the chief earnings of the institution to increase the wealth of the colony. We think the institution may fairly claim to have come up to the expectations of its founders, and the position it occupies at the present day gives ample evidence of the soundness of the principles on which it has been conducted.

From the last balance-sheet published we observe that the capital of the Bank now stands at £1,000,000, and that the reserve fund amounts to £625,000. From the same source, we glean that it has over a hundred offices in this colony, exclusive page 153of establishments in the adjoining Colonies of Victoria, New South Wales, South Australia, and Fiji. Their London office is in the centre of the City, and the agents in different parts of the world form a somewhat lengthy list.

Among our illustrations we give a view of Bank's premises in Christchurch.