Kiwibank’s parent company, Kiwi Group Capital (KGC), is currently working alongside Treasury to explore the feasibility of a potential capital raise of up to $500 million to support Kiwibank’s growth.
The process is still only in the feasibility phase. Accordingly, engagement with all potential investors has not yet taken place, however should a capital raise proceed, there will be a more fulsome engagement process. This would include outreach to Māori private capital groups and other interested parties to ensure broad participation. If this is the case, we look forward to that next stage and welcome the interest.
The intent of any future capital raise is to strengthen Kiwibank’s position as a competitive, New Zealand-owned alternative to the larger banks, delivering better outcomes for all New Zealanders.
Media contact: Ben Mabon, Head of External Communications 027 288 3263.