Kiwibank - Latest News [Page 1]

Kiwibank Savers To Benefit From Higher Returns Following OCR Rise

Wednesday, 6 October 2021, 2:13 pm | Kiwibank

Kiwibank has raised interest rates on a range of savings accounts as well as home lending following the first rise in the Official Cash Rate for seven years. Variable lending rates have been increased by 25bps, but the rates remain well below those ... More >>

The RBNZ Lifts The Cash Rate, And Kicks Off The First Tightening Cycle In 7 Years. Kiwi Higher.

Wednesday, 6 October 2021, 2:11 pm | Kiwibank

The RBNZ lifted the cash rate 25bps to 0.5% today, as expected. The Kiwi economy has solid momentum and the RBNZ has good reason to withdraw stimulus. And he RBNZ won’t stop here. October marks the beginning of a new chapter for the cash rate: More >>

Kiwibank Term Deposit Special Rate

Wednesday, 4 August 2021, 6:15 am | Kiwibank

Kiwibank is increasing its term deposit rate to 1.25% from 0.95% for its nine-month term. This is a special limited time only offer that runs to Sunday 8 August. Term Deposits Effective from: Wednesday 4 August 2021 Change applies to Business, PIE ... More >>

Kiwibank Drops Two-year Home Loan Rate

Friday, 16 July 2021, 1:48 pm | Kiwibank

Kiwibank has dropped its two-year fixed home loan rate to 2.49 percent, an offer that is significantly lower than others in market. Kiwibank Chief Executive Steve Jurkovich said in this rising rate environment the bank was providing certainty to ... More >>

Inflation Is Rising And So Are Interest Rates.

Friday, 16 July 2021, 12:03 pm | Kiwibank

Inflation rose a massive 1.3% in the June quarter, much higher than consensus of 0.7%, and even our 1.0% pick. Prices rose 3.3% over the year, with chunky gains in construction costs, transport costs, Food, and… the gains were broad based. Core ... More >>

Kiwibank Term Deposit Special Rate

Wednesday, 14 July 2021, 6:07 am | Kiwibank

Kiwibank is increasing its term deposit rate to 1.2% from 0.8% for its 200-day term. Kiwibank Senior Manager for Borrowing and Savings Richie McLay said: “Our customers are looking to maximise the return on their investment so Kiwibank is making it easier ... More >>

Kiwibank Welcomes Digital Boost Alliance And Continues Its Commitment To Digital Inclusion

Tuesday, 25 May 2021, 5:22 pm | Kiwibank

Kiwibank today welcomed the Government’s Digital Boost initiative and pledged to continue to support efforts to bring free online banking education to communities around New Zealand. The Digital Boost Alliance exists to support small business resilience ... More >>

Kiwibank Supports Savers With Market-leading Term Deposit Special

Monday, 17 May 2021, 8:55 am | Kiwibank

Kiwibank is increasing its term deposit rates, including lifting its 100-day rate by 0.70% to a market leading 1.10%. Head of Borrowing and Savings Chris Greig says Kiwibank exists to support the financial security of Kiwi by delivering long- term ... More >>

Snap Lockdown Snaps Spending Streak

Thursday, 8 April 2021, 11:06 am | Kiwibank

The resilience of household spending has surprised us, and has been a key driver of the Kiwi economy’s post-lockdown recovery. The splurge in spending over the second half of last year lasted much longer than expected. But now we have seen a ... More >>

Another Contraction In Economic Activity. It's Turbulence.

Thursday, 18 March 2021, 11:07 am | Kiwibank

According to StatsNZ “Activity in the December quarter shows a mixed picture – some industries are down, but others have held up or risen, despite the ongoing impact of COVID.” More >>

Kiwibank Focused On Delivering Better Outcomes For Customers.

Thursday, 25 February 2021, 9:36 am | Kiwibank

Kiwibank today announced a solid half year result for the six months to 31 December 2020 as it continued to focus on delivering better outcomes for customers. The bank recorded a net profit after tax of $55 million, up $4 million (8%) on the prior corresponding ... More >>

We're Growing In Confidence. But We've Just Been Reminded Of The World In Which We Live

Monday, 25 January 2021, 11:20 am | Kiwibank

Businesses are feeling upbeat about the economy. Renewed optimism, however, was built on our ability to keep covid at bay. We're on tenterhooks. Inflation in the last quarter proved much stronger than expected. Strong demand and severe supply ... More >>

A September Spring Fling. Double-digit Growth Won’t Be Repeated

Thursday, 17 December 2020, 1:37 pm | Kiwibank

Smaller slide, bigger bounce The Kiwi economy bounced back with a vengeance, recording a masssive 14% rebound in Q3, following the 11% contraction in Q2. This is as close as you get to a true V-shaped recovery. Output in all main industry groups rose over ... More >>

FLPing Property Just Got Cheaper. The RBNZ Will Provide Banks With Cheaper Funding.

Wednesday, 11 November 2020, 3:19 pm | Kiwibank

The RBNZ kept the cash rate at 0.25%, and the LSAP was left alone at $100bn. Neither the cash rate nor the LSAP were in play today. The decision centred on the introduction of a funding for lending programme, FLP. And the RBNZ delivered. The FLP will provide ... More >>

Household Spending Tracker Confirms Lockdown Trends

Tuesday, 6 October 2020, 1:31 pm | Kiwibank

Kiwibank’s latest Household Spending Tracker for the September quarter shows that some lockdown habits are becoming entrenched as more New Zealanders shift to online and contactless spending while working from home becomes more common. The Kiwibank ... More >>

Kiwibank Announces Full Year Results To 30 June 2020.

Tuesday, 1 September 2020, 10:17 am | Kiwibank

Kiwibank today announced a net profit after tax of $57 million for the 12 months to 30 June 2020, down from $108 million on the prior corresponding period. “As expected, this result reflects the impact of COVID-19 and a lower interest rate environment ... More >>

Changes To BFGS A Big Helping Hand For Kiwi Businesses

Thursday, 20 August 2020, 10:48 pm | Kiwibank

Kiwibank today welcomed the expansion of criteria which will allow more Kiwi businesses to benefit from the Government’s Business Finance Guarantee Scheme. Kiwibank Chief Customer Officer for Business Quentin Quin said: “With the expanded criteria we ... More >>

Kiwibank Prioritises Health, Wellbeing And Essential Banking Services In Alert Level 3

Tuesday, 18 August 2020, 10:22 am | Kiwibank

Kiwibank is prioritising the wellbeing of its people and customers as New Zealand works together to fight COVID-19. To ensure customers have access to essential banking services whilst in Alert Level 3 Kiwibank will be opening select Auckland branches ... More >>

2020 Housing Market Stocktake

Friday, 7 August 2020, 8:47 am | Kiwibank

2020 Housing Market Stocktake: Covid-19 price dip may not be so sharp, as chronic shortage lingers. More >>

2020 Property Insights: The Covid Correction May Cure, As The Chronic Shortage Continues

Friday, 7 August 2020, 7:56 am | Kiwibank

We now expect a shallower correction in house prices of 6%, down from 9%. With short supply persisting, our projected house price falls should meet strong resistance. The regions have fared far better than expected. Covid lockdowns barely affected ... More >>