The Commercial Bank of Australia (CBA), founded in 1866, was established in New Zealand in 1912 and in 1914 it purchased half of a building on this site previously built for the Colonial Bank of New Zealand. CBA demolished its portion of the building in 1934, two years before South British demolished the other. The new building was designed by Clere & Clere. At the time the main feature was a large banking chamber, now used for retail purposes.
The building opened in 1936. The name CBA disappeared when the bank merged with the Bank of New South Wales in 1982 and formed Westpac.
This Stripped Classical building uses the Chicago style of base, shaft and capital on its principal façade.