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
Donate blood at 65 Constellation Drive
Every single blood donation you give can save 3 lives. Blood is needed to help over 29,000 New Zealanders every year. Now there’s a new place you can go to donate blood and help people who need it. NZ Blood’s new donor centre at 65 Constellation Drive on Auckland’s North Shore is now open.
Book now to donate at nzblood.co.nz, download the NZ Blood App or call 0800 448 325.
Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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73.2% We work hard, we deserve a break!
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16.9% Hmm, maybe?
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9.9% Yes!
Lost birds
Two lorikeets lost from Verran Rd Birkenhead Mon 8th Dec. Keeto (male) is tame and Jala (female) semi tame.
If you are able to catch them or spot them hanging around please message ! Thankyou
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