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KiwiBank a brilliant success: Minister

20 March 2008
Media Statement


KiwiBank a brilliant success: Minister

New Zealanders like having their own bank, as demonstrated by the continuing success of KiwiBank, Progressive Party leader Jim Anderton said today.

Kiwibank today announced an audited profit of $22.7 million after tax for the six months ended December 31, 2007. This compares with the profit of $17.2 million after tax for the same period last year.

Total lending (home loans, business banking and credit cards) increased 34 per cent from $3.6 billion to $4.8 billion. Retail deposits increased 20 per cent from $3.3 billion to $4 billion.

Jim Anderton said Kiwibank now had nearly 600,000 customers.

“I knew when I first started work on setting up a ‘New Zealand Bank for New Zealanders’ that it would work and that it would be popular. I’m delighted to have that conviction borne out by KiwiBank’s continued success.”

ends

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