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Kiwibank was the brainchild of politician Jim Anderton, who wanted a locally-owned, locally-run bank that would operate in the interest of New Zealanders, with profits staying in the country rather than heading offshore.
Kiwibank was born, providing banking services via PostShops throughout New Zealand.
Kiwibank invests in New Zealand Home Loans, buying it outright four years later.
Kiwibank launched Kiwi Asset Finance to provide vehicle, plant and equipment loans for business customers.
Kiwibank’s sister company, Kiwi Wealth Management (which is part of Kiwi Group Holdings Limited), buys Gareth Morgan Investments.
Kiwi Insurance receives its full licence.
Kiwibank establishes Kiwi Financial Services Retail (KFSR) as the first step in transitioning staff in branches from New Zealand Post to Kiwibank.
New Zealand Post sells 47% of Kiwibank to the New Zealand Superannuation Fund (25%) and the Accident Compensation Corporation (22%).