Kiwibank profit falls on lower interest rates, impairments

Kiwibank CEO Steve Jurkovich. (Image: supplied)

Thu, 27 Feb 2025

Kiwibank’s commercial lending impairments continued to rise in the half-year to Dec 31, at the same time as the state-owned bank increased lending to the commercial sector by six times the rate observed by the rest of the banking market.With the Government weighing up partial privatisation to allow Kiwibank to grow and compete more effectively with the “big four” Australian-owned trading banks, the bank reported a 12% reduction in after-tax profit for the half-year of $92 million.The results showed its net interest margin &nda...

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