Kiwibank emphasises the 'Kiwi' as it posts record profit

Chief executive Steve Jurkovich said home buyers are more circumspect. (Image: Kiwibank)

Thu, 18 Aug 2022

Kiwibank lifted annual net profit by 4% to a record, saying it was driven by higher revenue and a continued focus on costs.Net profit for the year ended June rose to $131 million from $126m in the previous year and the increase was despite a $16m charge against profit for bad debts compared with a $19m write-back of charges in the year-earlier period.Net interest income rose 16.2% to $630m in the latest year while operating expenses rose 13.7% to $480m.Chief executive Steve Jurkovich said Kiwibank outperformed the market, growing its home loan...

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