In 1840, Union Bank of Australia (UBA), a British bank with its head office in London, agreed with the New Zealand Company to accompany settlers to New Zealand to provide them with banking services. UBA opened its first branch in Petone, across the harbour from Wellington City. The branch was transferred to Wellington a short time later.
In 1951, UBA and the Bank of Australasia merged to become the Australia and New Zealand Bank (ANZ Bank). In 1970, ANZ Bank merged with a third London-based bank, the English, Scottish and Australian Bank, to form ANZ Banking Group.
ANZ moved its corporate headquarters to Melbourne, Australia in 1976, and three years later an Act of Parliament permitted ANZ to incorporate its branches in New Zealand as ANZ Banking Group (New Zealand) Ltd. ANZ sold 25% of the shares to the public.
In 1983, ANZ opened its New Zealand head office in Wellington. In December 2003, the ANZ Banking Group bought The National Bank from Lloyds TSB. The banks operated as separate brands until 2012 when they were brought together under the ANZ brand.