10 Pounds National Bank of New Zealand Limited

The National Bank of New Zealand Limited was a private commercial bank incorporated in London in 1872, and its notes circulated alongside those of several competing banks well into the twentieth century. New Zealand did not establish a central bank until 1934, meaning private trading banks retained full note-issuing authority through the entire period this series covers — an arrangement that was already anachronistic by contemporary international standards.

The P#S309 prefix places this in the specialist catalog for private and commercial bank issues rather than the main New Zealand government sequence, reflecting its status as a privately-issued instrument rather than a state obligation. The Bank was eventually acquired by Lloyds Bank in 1966.