Parliament

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

 

Kiwibank proves it worth again

20 Sept 2005

Hon Jim Anderton MP, Progressive Leader

Kiwibank proves it worth again with $7m after tax profit

Kiwibank's profit announcement today shows just how valuable it is to have a New Zealand owned bank, Progressive Leader and instigator of the bank, Jim Anderton said.

Today Kiwibank announced a $7 million after tax profit (paying $4 million tax from $11 million gross profit). Their lending portfolio has grown to $1.5 billion and deposits are now up to $1.4 billion.

"Kiwibank is a shining example of a well run, nation wide bank. Customer satisfaction is high at 92 per cent, beating the national industry average by 10 per cent. New customers continue to sign up at a rate of 400 per day and they continue to increase branch numbers (now 306) even though they already have the largest branch network of any bank in New Zealand. They have also taken on 54 new staff in the past year and now employ a total of 440 New Zealanders.

"All over the country new customers continue to join up to use Kiwibank's competitively priced services. Families are benefiting from low interest mortgages, businesses from new low cost business services, and everyone can now use Kiwibank's own ATM network.

"Clearly Kiwibank is an asset to the country and must be preserved for the future. The fact that any profit they make goes straight back to New Zealanders, unlike the big overseas owned banks, should be enough to secure their future no matter what government is in power.

"Any government would be mad to put Kiwibank at risk of sell-off or even partial sell off. While the foreign owned banks take profits offshore, Kiwibank is providing a strongly competitive, innovative, customer focussed New Zealand owned banking service and must continue to do so for the future," Jim Anderton said.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Case For Nationalising Our Urban Bus Services


When it comes to funding and managing public transport, should local government or central government bear most of the responsibility for delivering a quality service? Ratepayers or taxpayers? Those basic questions re-surfaced yesterday, after the government announced its intention to scrap the Public Transport Operating Model (PTOM) imposed by the last National government in 2013. That model had required councils to use private contractors to run the buses, via a cut-throat competitive tendering process...
More>>




 
 

Privacy Commissioner: Public Input Sought To Inform Privacy Rules For Biometrics
Privacy Commissioner Michael Webster is encouraging New Zealanders to have their say on the use of biometric information in Aotearoa New Zealand... More>>

National: Food Prices Climb Taking Kiwis Backwards
Kiwi families continue to battle runaway food prices, National’s Finance spokesperson Nicola Willis says... More>>



Transport & Infrastructure: Have Your Say On The Future Of Inter-regional Passenger Rail In New Zealand

The Transport and Infrastructure Committee has opened an inquiry into the future of inter-regional passenger rail in New Zealand. The aim of the inquiry is to find out what the future could hold for inter-regional passenger rail... More>>



Government: Creating Sustainable Public Transport For All
Workers and public transport users are at the heart of the new Sustainable Public Transport Framework, Transport Minister Michael Wood announced today... More>>

Government: Tax Break To Boost Long-term Rental Supply
The Government is encouraging more long-term rental options by giving developers tax relief for as long as the homes are held as long-term rentals, the Housing Minister Megan Woods has announced... More>>


National: NZ Migrant Arrivals Hit Lowest Mark Since 1990s
Today’s net migration figures show that Labour has failed to deliver the desperately needed skilled migrants they promised, meaning labour shortages will persist into the future, National’s Immigration spokesperson Erica Stanford says... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels