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Celebrating Kiwibank’s business banking launch

Friday 20 May 2005

Hon Jim Anderton MP, Progressive Leader

Celebrating Kiwibank’s business banking launch

Progressive leader Jim Anderton opened Kiwibank’s first South Island business banking centre today at the Sydenham branch of Kiwibank.

“This is a great day for New Zealanders and New Zealand business. The vision for Kiwibank has been realised and it is now a fully-fledged bank providing low fees and an extensive branch network for business as well as families and workers.

“Not so long ago, most of New Zealand’s political leaders and financial commentators seriously believed we couldn’t run our own bank. Today’s business banking opening proves that we are clearly capable of doing so, as if there was any real doubt. Kiwibank signs-up 400 new customers a day and is running well ahead of all the targets in its business plan.

“As soon as Kiwibank opened, the big Australian-owned banks began to cut their fees and stopped closing branches. Kiwibank has made a positive impact by providing some much needed competition to the sector.

“Three hundred and twenty thousand small and medium businesses now have the choice to use the nation-wide network of New Zealand-owned Kiwibank, with low fees and more branches than any other bank.

“It is with great pride and hope for the future that we can celebrate the official opening of Kiwibank’s business banking today,” Jim Anderton said.



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