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Kiwibank braced for Covid impact

The state-owned bank's profits are down by nearly half as the coronavirus headwinds approach.

Maria Slade Tue, 01 Sep 2020

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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Contact the Writer: maria@nbr.co.nz
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Kiwibank braced for Covid impact
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