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Kiwibank Limited is a New Zealand state-owned bank and financial services provider. As of 2023, Kiwibank is the fifth-largest bank in New Zealand by assets, and the largest New Zealand-owned bank, with a market share of approximately 9%. [ 4 ]
The KiwiSaver scheme logo. KiwiSaver is a New Zealand savings scheme which has been operating since 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them earlier in certain limited circumstances, for example if undergoing significant financial hardship or to use a deposit for a first home.
State-owned Kiwibank, community trust-owned TSB Bank, SBS Bank (formerly Southland Building Society) and Heartland Bank, the next four largest banks by profit, made NZ$97 million, [46] NZ$73.5 million, [47] NZ$14 million [48] and NZ$7 million (albeit with an underlying result of about NZ$30 million) respectively. [49]
In 2022, it announced several clients, including Kiwibank (New Zealand) and Italy's largest bank: Intesa Sanpaolo. Temasek, Intesa Sanpaolo, and Morgan Stanley invested in Thought Machine's $160m series D funding round, doubling the company's valuation to $2.7bn.
The original Bank of New Zealand logo used for 147 years until 1 October 2008. The Bank of New Zealand was formed as a private company and incorporated by the New Zealand Bank Act 1861, which created the company and authorises it to issue banknotes. [2]
The Commonwealth Bank of Australia was established by the Commonwealth Bank Act 1911, introduced by the Andrew Fisher Labor government, which favoured bank nationalisation, with effect on 22 December 1911.
A branch in Ponsonby, Auckland. ASB Bank Limited, commonly stylised as ASB, is a bank owned by Commonwealth Bank of Australia, operating in New Zealand.It provides a range of financial services including retail, business and rural banking, funds management, as well as insurance through its Sovereign Limited subsidiary, and investment and securities services through its ASB Group Investments ...
SBS Bank is a New Zealand registered bank which was founded in 1869. In October 2008 it gained bank registration and the Southland Building Society became SBS Bank. It is a 100% New Zealand owned registered bank that has retained a mutual building society structure.