Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Kiwibank on target, National loses the plot

December 11 2003

Kiwibank on target, National loses the plot

Progressive Party leader Jim Anderton said today that it is great news that Kiwibank, the retail bank that is owned by all New Zealanders and offering competitive services, remains on target to become profitable in the 2004-2005 financial year.

"That is a positive achievement given that the bank has attracted far more customers, earlier, than originally envisaged. This means that it has had to invest more in its development, earlier than would have been the case had there not been so much popular demand for its services," Jim Anderton said.

It was reported today that Kiwibank has 198,000 customers and will have 200,000 by Christmas ? above its 165,000 target.

"In contrast to Kiwibank, which is on target, the National Party today again demonstrated that it has lost the plot and doesn't understand the role investment plays in securing future ongoing operating earnings.

"National says the foreign owned banks are closing down their networks. That was the case when this country had the misfortune to be led by a National government. These days the foreign banks are paying attention to maintaining their networks in order to compete with the New Zealand-owned Kiwibank," Jim Anderton said.

http://www.progressive.org.nz

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 
 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.