Main takeaway: Kiwibank eats into Big Four with broad lending and deposit growth. Chief executive Steve Jurkovich is bullish about the opportunity to be a ‘maverick’ challenger.
Kiwibank has reported another record profit, with broad growth in lending across the business, as it approaches a new era with a ‘maverick challenger’ badge.
Its net profit in the year ended June 30 was up 15% to $202 million, compared with $175m last year.
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Key points
Operating income: $880 million, up from $816m.
Profit: $202m, up from $175m.
Main takeaway: Kiwibank eats into Big Four with broad lending and deposit growth. Chief executive Steve Jurkovich is bullish about the opportunity to be a ‘maverick’ challenger.
