Kiwibank results flat except for KiwiSaver surge

A 35% surge in the profitability of its funds management operation was a highlight of Kiwibank's otherwise flat results. With special audio feature.

Jenny Ruth
Mon, 22 Feb 2016

Kiwibank’s net profit from wealth management, including its KiwSaver scheme, jumped 35% in the six months ended December.

That’s still small at $6 million but the overall government-owned Kiwi Group’s net profit rose just $1m to $73m and the bank itself’s profit was flat.

Kiwibank’s scheme became

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