Kiwibank gets Government approval for up to $500m recapitalisation

Kiwibank gets the nod for a capital raise of up to $500m. (Image: Bevan Conley)

Wed, 30 Jul 2025

State-owned lender Kiwibank has been given the go-ahead to raise up to $500 million in a bid to compete more vigorously with its behemoth Australian rivals on the high street.The recapitalisation, which had to take place before June 30, 2026, was given Cabinet approval after a market-testing process. It was subject to final approval of terms and conditions by shareholding ministers, the Minister of Finance and the Minister for State Owned Enterprises.Finance Minister Nicola Willis said the approval was the first step towards giving Kiwibank acc...

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