Kiwibank's shareholders green-light capital-hungry growth plans

Wed, 28 Aug 2019

By Jenny Ruth Aug. 29 (BusinessDesk) - Kiwibank's owners have approved another year of continued above-market lending growth, even though that's eating further into its available capital. “The shareholders have signed off the business plan that sees us growing above-system in the next year,” chief executive Steve Jurkovich says. Lending growth in the year ended June meant Kiwibank’s tier 1 common equity fell to 12.4 percent of risk-weighted assets at June 30 from 13.4 percent a year earlier. In particular, Kiwibank’s mortgage book g...

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