Kiwibank
Retail bank in New Zealand / From Wikipedia, the free encyclopedia
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Kiwibank Limited is a New Zealand state-owned bank and financial services provider. As of 2023, Kiwibank is the fifth-largest bank in New Zealand by assets, and the largest New Zealand-owned bank, with a market share of approximately 9%.[4] In December 2023, the bank's assets totaled about $35 billion.[5]
This article contains content that is written like an advertisement. (July 2022) |
Company type | State-owned enterprise |
---|---|
Founded | May 2001 |
Headquarters | Auckland, New Zealand |
Key people | |
Products | Banking and financial services |
Number of employees | 2500+ |
Rating | A (S&P)[3] |
Website | www |
Kiwibank was established in 2001 by the Fifth Labour Government of New Zealand, following a proposal by then Deputy Prime Minister Jim Anderton, to set up a locally-owned bank capable of competing with the Big Four Australian banks which dominated the domestic market. Initially, it operated as a subsidiary of New Zealand Post, with branches originally co-located within PostShops (post offices) to ensure nationwide accessibility.[6]