Kiwibank lifts first-half profit 16%, lending up 20%

Kiwibank said business lending was flat but well above the rest of the market.

Thu, 24 Feb 2022

Kiwibank lifted first-half net profit 16% as lending growth jumped 20% and margins fattened and it said the bank grew faster than the market.Net profit for the six months ended December rose to $64 million from $55m while net interest margin rose 10 basis points to 2.04% from 1.94%.Chief executive Steve Jurkovich said the bank recorded improvements across all key internal financial metrics and outperformed the market in home loan and business banking growth."The strong result is due to our strategy which balances purpose and performance an...

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