The Commercial Bank of Tasmania Limited was the ninth colonial 'Bank of issue' to commence business in Australia. Originally named the 'Commercial Bank in Van Diemen's Land', the Commercial Bank of Tasmania was established in Hobart Town in 1829. Notable Hobart Town shopkeeper John Dunn had sold his interests in the Derwent Bank (1827-1849), in which he was the founding director, to form the Commercial Bank of Tasmania. John Dunn was the managing director, with T.M. Fenton and William Gellibrand as directors, the bank had 200 shareholders, with majority of shares held by John Dunn. Banknotes were issued by the Commercial Bank of Tasmania in 1830, shortly after commencement. The fortunes of the bank fluctuated over the years, being one of the few banks in Australia to keep the doors open during the financial crisis of 1893. Eventually, the English, Scottish and Australian Bank Ltd. absorbed the Commercial Bank of Tasmania in 1921.