Kiwibank is 100% New Zealand-owned. Our parent company, Kiwi Group Holdings (KGH) is owned by New Zealand Post (which holds a 53% stake), the Guardians of the New Zealand Superannuation Fund (25%) and the Accident Compensation Corporation (22%).
The KGH whānau
Kiwibank isn't an only child. KGH also owns a number of other financial services businesses: KiwiWealth; Kiwi Insurance; Kiwi Financial Services Retail; and New Zealand Home Loans.
Kiwi Wealth
Kiwi Wealth offers a KiwiSaver scheme, a Superannuation scheme and a Private Portfolio Service for high net worth investors.
Originally called Gareth Morgan Investments, Kiwi Wealth was founded by economists Gareth Morgan and Andrew Gawith in August 2000.
KGH bought the business in 2012.
Kiwi Financial Services Retail
Kiwi Financial Services Retail is essentially another name for Kiwibank’s Branch Network. When Kiwibank started, we started small, operating out of NZ Post’s Post Store Network, which provided Kiwibank services.
In 2016, this group were brought into the Kiwi Group family under the name KFSR.
New Zealand Home Loans
New Zealand Home Loans was founded in Hamilton in November 1996 by John Erkkila and Murray Ferguson.
In 2006, Kiwi Group bought a 51% stake in NZHL, gradually increasing its shareholding until it owned 100% of the company by July 2012.
NZHL employees are not employed under Kiwibank and the company is run as a separate entity.
Kiwi Insurance
When Kiwibank opened in 2002 we were selling the likes of house, contents, motor vehicle, travel cover and health insurance through outsourced providers.
In 2012, Kiwibank brought some of our insurance products in-house operating under Kiwi Insurance, a sister company of Kiwibank. These products are Life and Living, Home Loan and Credit Card Repayment insurance.
All other insurance products are still operated through outsourced providers.
All employees that work for Kiwi Insurance are employed through Kiwibank.