Treasury hires Goldman Sachs to run ruler over KiwiBank

Tue, 26 Feb 2013

Feb. 26 (BusinessDesk) – The Treasury hired Goldman Sachs to run the ruler over state-owned KiwiBank and its future capital needs. A spokesman for the Treasury said the report has been completed but won’t be made public because the details are commercially sensitive. Confirmation of the report comes a day after KiwiBank and parent New Zealand Post posted their first-half results, which showed banking propped up the barely profitable postal service, accounting for about 83 percent of the group’s earnings. KiwiBank’s net profit rose 53 percen...

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