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                                                                      EXHIBIT 23


                         CONSENT OF INDEPENDENT AUDITORS



Zions Bancorporation:


We consent to the incorporation by reference in Zions Bancorporation's (i)
Registration Statement (Form S-3 No. 33-58801) and related Prospectus pertaining
to the Zions Bancorporation Dividend Reinvestment and Common Stock Purchase
Plan, (ii) Registration Statement (Form S-8 No. 33-58845) and related Prospectus
pertaining to Zions Bancorporation Employee Stock Savings Plan, and (iii)
Registration Statement (Form S-8 No. 33-58855) and related Prospectus pertaining
to Zions Bancorporation Employee Investment Savings Plan, of our report dated
January 26, 1998, relating to the consolidated balance sheets of Zions
Bancorporation and subsidiaries as of December 31, 1997 and 1996, and the
related consolidated statements of income, retained earnings, and cash flows for
each of the years in the three-year period ended December 31, 1997, which report
appears in this annual report on Form 10-K for the year ended December 31, 1997.

We also consent to the incorporation by reference in Zions Bancorporation's
Registration Statement (Form S-8 No. 33-58845) of Zions Bancorporation Employee
Stock Savings Plan of our report dated March 13, 1998, relating to the
statements of net assets available for benefits of Zions Bancorporation Employee
Stock Savings Plan as of December 31, 1997 and 1996, and the related statements
of changes in net assets available for benefits for each of the years in the
three-year period ended December 31, 1997, which report appears in the annual
report on Form 11-K for the year ended December 31, 1997, which is included as
an exhibit in this annual report on Form 10-K.

We also consent to the incorporation by reference in Zions Bancorporation's
Registration Statement (Form S-8 No. 33-58855) of Zions Bancorporation Employee
Investment Savings Plan of our report dated March 13, 1998, relating to the
statements of net assets available for benefits of Zions Bancorporation Employee
Investment Savings Plan as of December 31, 1997 and 1996, and the related
statements of changes in net assets available for benefits for each of the years
in the three-year period ended December 31, 1997, which report appears in the
annual report on Form 11-K for the year ended December 31, 1997, which is
included as an exhibit in this annual report on Form 10-K.




                                                KPMG Peat Marwick LLP


Salt Lake City, Utah
March 20, 1998