Govt outlines KiwiBank funding plans

Finance Minister Nicola Willis says KiwiBanlk needs money to be a disruptor. (Image: NZME)

Mon, 09 Dec 2024

The Government is seeking $500 million to recapitalise KiwiBank with funding from New Zealand institutional investors.Announcing the Government’s response to the Commerce Commission’s study into competition in the banking sector, Prime Minister Christopher Luxon highlighted the desire for the Government-owned minnow KiwiBank to take on the big four Australian-owned banks and disrupt the sector.Finance Minister Nicola Willis said boosting KiwiBank through recapitalisation was a key to that.'An asset capitalisation'It was not...

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