KiwiBank Boost for Banking Competition
The Government is taking bold steps to boost competition, strengthen Kiwibank, and ensure fairer outcomes for Kiwi customers. Key changes include:
✅ Boosting Kiwibank's capital: Up to $500 million may be raised from KiwiSaver funds, NZ investment institutions, and professional investor groups to help Kiwibank compete with the "big four" Australian-owned banks.
✅ Exploring a public share offering: A potential IPO for Kiwibank is on the horizon (post-2028) after its digital transformation, offering more accessible growth options.
✅ Revised Reserve Bank focus: New directives for the Reserve Bank prioritize competition while maintaining financial stability, with reviews planned for:
❇️Risk weighting for lending.
❇️Minimum capital thresholds for new market entrants.
❇️Restrictions on the use of the word "bank."
❇️Barriers to lending on Māori freehold land.
✅ Improved services for consumers: Emphasis on open banking, better payment switching, and clearer home loan comparisons.
"Competition is king," as Nicola Willis puts it. These changes aim to create a level playing field for smaller players and better outcomes for Kiwi bank customers. What do you think?
#KIWIBANK #OpenBanking #kiwisaver #independentfinancialadvice #advicehq
Got more greens than you know what to do with? 🥦🌱🥕
Whether it’s a courgette takeover or a feijoa frenzy, don’t let those garden gems go to waste!
Our suggestion to you: Did you know you can grate and freeze excess courgettes to use in chocolate cake later? It sounds a bit dodgy, but it makes the cake incredibly moist ... and hey, it counts as a serving of veg, right? 🍫
What’s your go-to move for a bumper harvest? Drop your best "glut" recipes or preservation hacks in the comments below! 👇
Poll: Does a savoury scone require cheese on top, or folded inside?
Help settle the great kiwi debate ... cheese on top, or folded inside?
-
76.3% Inside!
-
23.7% On top!
Cooler days can leave skin feeling dry and sensitive ❄️
Keep your face, body, hands, and lips soft and hydrated with natural skincare — with gentle options for baby and mum too.
✨ Take 10% off with code: GLOW10
With Mother’s Day coming up, it’s the perfect time to choose a thoughtful, practical gift 💛
Loading…
