100 Pounds Commercial Bank of New Zealand Ltd.

The Commercial Bank of New Zealand was incorporated in London in 1866 and collapsed in 1893, one of several New Zealand trading banks that failed to survive the severe depression of the early 1890s. Its notes were printed by Perkins, Bacon & Petch before the bank had even formally opened its doors in the colony — a common enough practice for London-incorporated institutions needing stock ready at launch, but it means surviving examples from this 1865–1866 print run predate any significant New Zealand circulation history.

At the £100 denomination, actual circulation was always thin. High-value notes of this period moved between merchants and clearing houses rather than passing through general trade, and most were cancelled or redeemed long before the bank's failure.