Government buys back 100% of Kiwibank

Robertson says it's a win-win for New Zealanders

Mon, 22 Aug 2022

The government has bought 100% of Kiwibank's holding company with the price valuing the bank’s parent at $2.1 billion.The NZ Superannuation Fund owned 25% and ACC owned 22% of Kiwi Group Holdings, with New Zealand Post owning the remaining 53%. The holding company also owns NZ Home Loans. “This is a win-win for the Crown, Kiwibank and for New Zealanders,” said finance minister Grant Robertson.“Kiwibank and NZ Home Loans will continue to operate independently and at arm's length from the government,” Ro...

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