Kiwibank lifts FY profit 3%, eyes dividend in next three years

Fri, 29 Aug 2014

By Paul McBeth Aug. 29 (BusinessDesk) - Kiwibank, the state-owned lender, lifted annual profit 3 percent as it widened net interest margins, and is looking to start paying dividends to its owner in the next three years. Net profit rose to $100 million the 12 months ended June 30 from $97 million a year earlier, the Wellington-based bank said in a statement. Kiwi Group Holdings, the New Zealand Post holding company which includes wealth management, insurance and home loans units, lifted profit 7 percent to $107 million. The bank increas...

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