Kiwibank cranks up lending in June quarter

Wed, 23 Sep 2020

State-owned Kiwibank cranked up its lending in the June quarter when most were dialling it back in a period when provisioning for bad covid loans saw the sector’s profits shrink.Gross lending by the country’s licensed banks shrank 0.3 percent to $445.67 billion in the three months ended June 30, slowing the annual credit expansion to just 3.2 percent, according to KPMG’s quarterly financial institutions performance survey. Kiwibank increased its gross lending 1.5 percent to $22.38 billion, taking its annual increase to 8....

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