'Big number': Kiwibank's $69m profit boost

Chief executive Steve Jurkovich said big banks' words are at odds with their behaviour. (Image: supplied)

Thu, 26 Aug 2021

Kiwibank's annual results paint a graphic picture of how much the economic outlook has changed for the better, even though the nation is back in a covid-induced level 4 lockdown.The bottom line is a $126 million net profit for the year ended June compared with a $57m result the previous year.The latest result was boosted by a $19m reduction in charges against profit for bad debts compared with the previous year's $51m charge."A $70m swing for a bank our size is a big number," said chief executive Steve Jurkovich.He noted how m...

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