headquarters wellington new zealand key people paul brock chief executive rob morrison chairman of board of directors products banking and financial services number of employees 2375 parent new zealand post website see tfm www.kiwibank.co.nz this postshop in wellesley street auckland new zealand also serves as a branch of kiwibank . kiwibank limited is a wholly owned subsidiary of the state owned enterprise new zealand post limited . through kiwibank new zealand post provides banking services through its postshops post offices and joint venture books & more and papermate outlets throughout new zealand . kiwibank is owned by the new zealand government and the company s board of directors was chaired by former new zealand prime minister jim bolger from 2001 2010 . the current chairman of the board of directors is rob morrison . 1 contents 1 history 1.1 earlier state owned banks 1.2 establishment 1.3 continuing operation 1.4 government divestment 2 core business activities 3 investments 4 awards 5 sponsorships 6 controversy 7 references 8 external links history edit earlier state owned banks edit kiwibank is similar in many respects to an earlier post office based bank owned by the new zealand government . the new zealand post office bank was established in 1867 . in 1987 the bank was corporatised and separated from new zealand post and telecom new zealand to form a stand alone company postbank . then in 1989 postbank was sold by the government to anz . 2 establishment edit the bank originated from alliance party policy during the 1999 2002 term of the labour led coalition government . jim anderton revealed in his valedictory speech that after the issue had previously been discussed by cabinet for months he had spent three hours trying to convince then finance minister michael cullen annette king told cullen michael jim s beaten back every argument against the bank we ve ever put up . for god s sake give him the bloody bank . cullen replied oh all right then . 3 4 kiwibank launched in 2002 with 211 branches open nationwide by 30 june . continuing operation edit by 2004 the number of kiwibank branches had increased by 16 to 301 . in 2006 kiwibank acquired a 51 per cent shareholding in new zealand home loans . in 2007 one analysis saw kiwibank as having fostered a new level of competition in banking in new zealand in terms of lower fees 5 and growth in service citation needed . as of 2007 kiwibank had higher customer satisfaction ratings than the four large australian owned trading banks . 6 new zealand post and kiwibank shop at the palms shopping centre in shirley christchurch as of 2008 kiwibank reported that it was signing up around 300 new organisations and individuals per day about 2100 per week as customers . 7 within the new zealand financial institution context this is a significant figure for the four big five retail banks anz national bank then anz national bank asb westpac bnz a typical year will result in a 0.2 % increase or decrease in market share deposit and lending values rather than number of customers . citation needed in 2008 kiwibank unveiled an advertising campaign join the movement which parodied world war ii resistance themes . rival banks most of them australian owned denounced the advertisements as jingoistic . 8 9 in 2009 kiwi group holdings was established as a holding company which owned kiwibank kiwi insurance ltd and 76 percent of new zealand home loan company . in 2010 paul brock was appointed new kiwibank chief executive after sam knowles resigned . in 2012 kiwibank group purchased gareth morgan investments . according to kiwibank s 2016 annual report continued growth saw the bank account for 12.0 % of all new zealand banking transactions while the bank is the main financial institution for 419 000 of its 1 020 000 account holders . the bank s net profit after taxation to the year ending 30 june was nzd 124 million down 2.4 % on the previous year . the bank s total assets however grew 5.5 % to reach nzd 19.4 billion . 10 government divestment edit in 2016 new zealand post announced an intention to sell 45 percent of kiwibank to the new zealand superannuation fund 25 percent and the accident compensation corporation 20 percent . 11 on april 7 2016 new zealand finance minister bill english announced that the government has the intention to extract between 300 350 million nzd from kiwibank in a special dividend before the sale is finalised . the dividend is expected to be transacted the same time as the initial 495 million purchase price . 12 core business activities edit atm at the hub shopping centre in hornby christchurch kiwibank s core business consists of personal banking business banking kiwisaver and other wealth services . kiwibank personal banking personal banking products and services include home loans personal loans credit cards everyday accounts savings accounts investment services and insurance products . 13 kiwibank business banking business banking products and services include business lending cheque accounts credit cards investments merchant services payment services and insurance . 14 international services this includes online and manual international money transfers foreign exchange and foreign currency accounts and travellers cheques . investments edit kiwibank invested nz 8m into a 51 % shareholding in new zealand home loans 15 a home loan lender specialising in debt reduction in june 2006 and increased this in 2008 by a further 25 % and took 100 % in 2011 . new zealand home loans continues to grow offering an alternative to the traditional banking model and have a nationwide network of over 75 franchises . 16 in 2012 kiwibank purchased gareth morgan investments gmi for an undisclosed sum . 17 awards edit kiwibank has won the sunday star times cannex banking awards in 2006 2007 2008 2009 2010 and 2012 for offering the best value across their range of products . 18 other awards won by kiwibank include bank of the year new zealand the banker 2009 2010 sunday star times bank of the year 2006 2007 2008 2009 2010 2012 new zealand s most trusted bank reader s digest trusted brand awards 2007 2008 2009 2011 2012 sponsorships edit kiwibank is the major sponsor of the new zealander of the year awards 19 and was one of the major sponsors of the inaugural series of the block nz . controversy edit in 2009 kiwibank was highly criticized for using australian call centres in the middle of a strong advertising campaign persuading new zealanders away from australian banking corporations . 20 references edit our leaders . kiwibank . retrieved 2015 08 11 . new zealand post and kiwibank . te ara . ministry for culture and heritage . retrieved 22 june 2015 . elliotts suffering shook me power . the new zealand herald . 6 october 2011 . retrieved 13 october 2011 . watkins tracy 5 october 2011 . bowing out with a final victorious quip . the press . p. a9 . milner andrea 2008 05 11 . experts question the high cost of banking . apn holdings nz . retrieved 2014 03 14 . the good news says godfrey boyce of kpmg financial services is that in the past year major banks have adopted low fee transaction accounts and low interest rate credit cards to lure customers from competitors . ... in part he says this is a reaction to the fact previous banking minnows such as kiwibank tsb bank and rabobank are now strong enough to be noticed by the major banks . daniels chris 2007 04 08 . bank on satisfaction . new zealand herald . apn holdings nz . retrieved 2008 04 26 . stock rob c. 2008 . about kiwibank . kiwibank external information . kiwibank . retrieved 2008 11 24 . bennett adam 30 may 2008 . stock takes changes rankle . the new zealand herald . retrieved 13 october 2011 . 1 archived 19 march 2008 at the wayback machine . kiwibank media briefing pdf . kiwibank external information . kiwibank . 30 june 2016 . retrieved 21 september 2016 . nz post plans 45 % sale of kiwibank . national business review . 6 april 2016 . retrieved 6 april 2016 . government will extract 300m 350m dividend from kiwibank . new zealand herald . 7 april 2016 . retrieved 7 april 2016 . personal banking new zealand . kiwibank.co.nz . retrieved 2015 08 11 . business banking new zealand . kiwibank.co.nz . retrieved 2015 08 11 . new zealand home loans helping kiwis get debt free faster . nzhomeloans.co.nz . retrieved 2015 08 11 . new zealand home loans helping kiwis get debt free faster . nzhomeloans.co.nz . retrieved 2015 08 11 . kiwibank consolidates kiwisaver in gareth morgan brand the national business review . nbr.co.nz . 2012 08 09 . retrieved 2015 08 11 . stock rob 2008 02 21 . kiwibank posts a good result . sunday star times . fairfax new zealand . retrieved 2008 04 26 . dead link new zealander of the year awards . nzawards.org.nz . retrieved 2015 08 11 . kiwibank using australian call centre . new zealand herald . 3 april 2009 . retrieved 6 april 2016 . wikinews has related news new zealand atm gives out double the money external links edit wikimedia commons has media related to kiwibank . official website new zealand post new zealand home loans v t e banks of new zealand current banks anz asb bankdirect bank of new zealand the co operative bank heartland bank hsbc kiwibank rabobank rabodirect sbs bank tsb bank westpac italics in the above indicate domestic ownership former banks nationwide service post office savings bank trust bank countrywide bank national bank regional trustee banks bay of plenty savings bank canterbury savings bank eastern & central savings bank otago savings bank south canterbury savings bank southland savings bank waikato savings bank wanganui savings bank wellington savings bank westland savings bank retrieved from https en.wikipedia.org w index.php title kiwibank & oldid 740462224 categories banks of new zealandbanks established in 20022002 establishments in new zealandhidden categories articles with wayback machine linksall articles with dead external linksarticles with dead external links from october 2010use dmy dates from september 2015use new zealand english from september 2015all wikipedia articles written in new zealand englishall articles with unsourced statementsarticles with unsourced statements from march 2014articles with unsourced statements from june 2015commons category with local link same as on wikidata navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages deutsch edit links this page was last modified on 21 september 2016 at 06 11 . text 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