The Kiwibank group saw profit fall 0.8 percent to $131 million in the latest financial year.
Kiwi Group Holdings posted a net profit of $73 million in the six months ended Dec. 31 from $72 million a year earlier. With special audio feature.
Much of the surge in mortgage lending in the June quarter was unprofitable, says Kiwibank chief executive Paul Brock.
Kiwibank CEO Paul Brock talks about his company's result on NBR Radio and on demand on MyNBR Radio.