Kiwibank
From Wikipedia, the free encyclopedia
| Kiwibank | |
|---|---|
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| Type | State-owned enterprise |
| Founded | 2002 |
| Headquarters | Wellington, New Zealand |
| Products | Banking and financial services |
| Parent | New Zealand Post |
| Website | Kiwibank |
Kiwibank Limited is a wholly owned subsidiary of the state-owned enterprise New Zealand Post Limited. Through Kiwibank, New Zealand Post provides banking services through its PostShops (post offices) and joint venture Books & More and Papermate outlets throughout New Zealand.
The bank was initiated as part of Alliance Party policy in the 1999-2002 Labour-Alliance coalition government. Kiwibank is owned by the New Zealand government and is chaired by former New Zealand Prime Minister Jim Bolger.
Kiwibank invested NZ$8m into a majority shareholding in New Zealand Home Loans, a home loan lender specialising in debt reduction, in June 2006.
Kiwibank has won the first two Sunday Star Times/Cannex banking awards, in 2006 and 2007, for offering the best value across their range of products.[1] It has been seen by many to have brought a new level of competition in banking in New Zealand in terms of lower fees and growth in service.[citation needed] Kiwibank has higher customer satisfaction ratings than the four large Australian-owned trading banks.[2]
[edit] References
- ^ Stock, Rob. "Kiwibank posts a good result", Sunday Star-Times, Fairfax New Zealand, 2008-02-21. Retrieved on 2008-04-26.
- ^ Daniels, Chris. "Bank on satisfaction", New Zealand Herald, APN Holdings NZ, 2007-04-08. Retrieved on 2008-04-26.
[edit] External links
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