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No further rate hikes needed: Kiwibank CEO

Net profit rises 7% to $105 million in the six months ended December.

WATCH: Kiwibank chief executive Steve Jurkovich speaks with Maria Slade.

Key points
  • Operating income: $448 million, up from $415m.
  • Profit: $105m, up from $98m. 
  • Key takeaway: New Zealand-owned bank makes a higher half-year profit, as the focus stays on attracting new customers from Aussie-owned competitors.  

Kiwibank has reported growth across the business in its first half, with net profit rising in a competitive trading environment.

The bank’s profit rose 7% to $105 million in the six months ended December 31, compared with $98m in the previous corresponding period.

Operating income rose 8% to $448m,

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Key points
  • Operating income: $448 million, up from $415m.
  • Profit: $105m, up from $98m. 
  • Key takeaway: New Zealand-owned bank makes a higher half-year profit, as the focus stays on attracting new customers from Aussie-owned competitors.  
No further rate hikes needed: Kiwibank CEO
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