Kiwibank ekes out 1.4% gain in first-half profit, on track to beat 2015 annual earnings

Sun, 21 Feb 2016

By Paul McBeth Feb. 22 (BusinessDesk) - Kiwibank, state-owned New Zealand Post Group's banking unit, increased first-half profit 1.4 percent and says it's on track to beat its 2015 annual earnings, growing its loan book faster than the broader banking sector, particularly in residential and business lending. Wellington-based Kiwi Group Holdings, which includes the lender's wealth management and insurance businesses, posted a net profit of $73 million in the six months ended Dec. 31 from $72 million a year earlier, with total operating re...

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