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Lending, profits up for Kiwibank

State-owned bank sees 13% growth in lending and drop in Covid bad debt provisions.

Maria Slade Thu, 26 Aug 2021

Kiwibank grew its lending by $3b in the year to June, driven by an 11% rise in mortgage lending and a 51% increase in loans to businesses.

The state-owned bank now has a loan book of $25.2b, up from $22.2b last year.

Home loans and residentially secured lending still account for the majority

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Contact the Writer: maria@nbr.co.nz
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