Kiwibank braced for Covid impact
The state-owned bank's profits are down by nearly half as the coronavirus headwinds approach.
A sharp rise in bad loan provisions thanks to the impact of Covid-19 has pushed Kiwibank’s annual profit down 47%.
The state-owned bank made a net profit after tax of $57 million for the year to June 30, compared with $108m in the 12 months prior. NZ Post remains the major shareholder in the
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