Buying back BNZ a ‘complex, clickbait’ idea, experts say

NZ First’s plan has been widely panned, including from the Prime Minister who termed it a $30b waste of money.

A merged BNZ and Kiwibank would be renamed to National Bank of New Zealand under NZ First's proposal.

Experts have labelled NZ First’s proposal to buy back BNZ from Australia’s NAB a terrible idea and a waste of money.

Yesterday, the party's leader Winston Peters announced a campaign policy to buy back BNZ parent NAB, to which it was sold in 1992. BNZ would then be merged with Kiwibank to form

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Jonathan Mitchell Mon, 18 May 2026

Contact the Writer: jmitchell@nbr.co.nz

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