Kiwibank continues on its successful way

Progressive Party leader Jim Anderton today welcomed the Kiwibank announcement of an after-tax profit of $25.5 million for the 12 months ended 30 June 2007.

This is an increase of $9.7 million (61 per cent) over the corresponding period last financial year.

Jim Anderton noted that Kiwibank had increased its customer numbers by another 100,000 to more than 550,000, with chief executive Sam Knowles saying that an average of 2000 people a week had opened accounts during the financial year.

"In today's competitive banking market, it's clear that many people want to put their money with a home-grown bank."

Jim Anderton said there had not been many believers when he promoted the idea of a Kiwibank, but now, five years on, it was clear that many other New Zealanders shared his vision.