NZ Post gives Kiwibank boost
Kiwibank received another $15 million from parent New Zealand Post during the first quarter, meaning the three-year-old Government-owned bank has now received $138 million from the taxpayer. The $15 million figure is in Kiwibank’s latest quarterly general disclosure statement compiled for the Reserve Bank along with a $2.42 million post-tax profit in the three months to March 31. The additional funding will be used to pay for ongoing growth including a push into the small and medium-sized business banking market.
