Kiwibank

The Kiwibank Limited, based in Wellington, is the sixth largest branch and commercial bank in New Zealand. It is about the Kiwi Group Holdings Limited ( 67.4 %) and the Kiwi Capital Management Limited performed ( 32.6%) as an independent subsidiary of New Zealand Post and is also used as a state - owned enterprise owned by the state.

History

On 29 November 2001, the Reserve Bank of New Zealand announced that it had issued the company with the registration of the New Zealand Post Financial Services Limited permission as a test to work as a bank. At the same time it was announced that the bank would operate as Kiwibank in the market as 17 bank. Then was to do business as a bank, on 4 February 2002 definitively issued by the Reserve Bank of Kiwibank Limited permission.

The Bank's approach was originally applied to the retail business, which has been channeled through the existing post offices of the New Zealand Post. Later was added the business with corporate customers.

As on August 4, 2006, the St George Bank New Zealand Ltd, which occurred in the market with the brand Super Bank, announced cease their activities that Kiwibank provided customers with the Super Bank to take over their accounts. On the market share of Kiwibank but the process had little impact. The market share in this period rose slightly from 1.1% to 1.4% in May 2007.

Today

The Kiwibank was at the beginning of 2011, more than 650,000 customers in more than 300 stores to use and have the advantage of longer opening times compared to the other banks. Their market share was in May 2009, but only 3.2 %.