Source: NZ Institute of Safety Management
Banking – Government approves next phase of capital raise process to support Kiwibank’s growth – Kiwibank
Source: Kiwibank
30 July 2025 – In December 2024, the Government announced it was exploring a private placement of capital to continue to accelerate Kiwibank’s growth. Since then, Kiwibank’s parent company, Kiwi Group Capital (KGC) and the Treasury have been assessing investor interest in such an initiative.
Following this process, Cabinet has approved for KGC to proceed to the next phase of a potential capital raise of up to $500 million with timing and amount to be determined by KGC, and subject to final approval of terms and conditions by shareholding Ministers. The transaction is expected to occur prior to 30 June 2026.
David McLean, KGC Chairman, said: “The Government has reaffirmed its commitment to supporting Kiwibank as a competitive, New Zealand-owned alternative to the larger banks, ensuring better outcomes for all New Zealanders.
“The capital raise process aims to provide Kiwibank with capital to continue its above market growth and enhance its competitive position while ensuring all funds raised are invested into New Zealand’s future. There will be no return of capital to the Crown, and no changes for Kiwibank customers.”
Steve Jurkovich, Kiwibank’s Chief Executive, said, “Kiwibank exists to challenge the status quo and to disrupt the banking sector for the good of Kiwi. We are working to create a future where banking is stronger and fairer than ever before.
“Delivering on our Purpose of Kiwi making Kiwi better off is what differentiates Kiwibank and drives our performance, and that is what we continue to be focused on. Any capital raise would be structured to ensure Kiwibank’s continued role to improve services and pricing for consumers.”
The capital raising process is targeting New Zealand-based KiwiSaver funds, investment institutions, and professional investment groups. Kiwibank will remain 100% New Zealand-owned following the completion of any private placement.
Kiwibank half year 2025 highlights
- Kiwibank announced a net profit after tax of $92 million for the six months to 31 December 2024.
- Kiwibank achieved net lending growth of $2 billion growing its lending book by 6% to $34.4 billion.
- Home lending grew 2.1 times faster than the market and business lending more than 6 times faster than the market.
- Deposits increased $1.8 billion growing the Kiwibank deposit book by 6% to $30 billion (1.6 times faster than market growth).
About Kiwibank
Kiwibank is a Purpose-led organisation that has modern, Kiwi values at heart and keeps Kiwi money where it belongs – right here in New Zealand. As a Kiwi bank, with more than a million customers, our trusted experts are focused on supporting Kiwi with their home ownership aspirations and backing local business ambitions, so together we can thrive here in Aotearoa and on the world stage. Kiwibank is the #1 bank in Kantar’s 2025 Corporate Reputation Index and the only bank in the top 15. To find out more about Kiwibank visit www.kiwibank.co.nz.
Aviation – Airways publishes 2025-2028 air traffic management service prices
Source: Airways NZ
Business Canterbury welcomes manufacturing regulation consultation
Source: Business Canterbury
Health – ProCare practices perform at an outstanding level in managing cardiovascular and diabetes care for patients
Practices within ProCare’s Network have shown they are putting in an outstanding effort in managing cardiovascular and diabetes care for their communities. A recent review of health indicator data in the northern region has shown where ProCare practices have demonstrated exceptional results.
The data, collated by the Northern Region Clinical Governance Forum, highlights the high standard of care provided by the network.
Bindi Norwell, Chief Executive at ProCare says: “Our practices excelled in managing patient care for microalbuminuria, CVD secondary and primary prevention for diabetes, and overall CVD secondary and primary prevention. Congratulations on all your hard mahi, as these metrics are crucial for monitoring and improving patient outcomes.”
ProCare had the highest performance for these indicators compared to other primary health organisations in the northern region.
“This achievement underscores the effectiveness of the health care strategies and the importance of taking a population health approach to supporting patients. It’s also testimony to the high calibre mahi health care professionals in our Network undertake every day,” says Norwell.
Mihi Blair, Kaiwhakahaere Hauora Māori, Mana Taurite (General Manager of Māori Health and Equity), at ProCare says: “This is an important improvement for Māori and Pacific people receiving care from practices within the Network. The results of this mahi are significant for reducing the equity gap in our communities.”
“ProCare has the largest number of Pacific patients across Tāmaki Makaurau and Aotearoa than any other primary health organisation. These practices know the importance of supporting our most vulnerable communities in using a targeted approach. Our focus is to continue to support practices to focus on championing positive health outcomes for all our communities in need,” concludes Blair.
Additional support from clinicians as part of the Comprehensive Primary Care Teams has also played a significant role in monitoring patient care and providing additional clinical resource.
Norwell concludes: “Achieving these results highlights the great work being done by ProCare practices and positions us as a leader in the healthcare sector. It’s a testament to the hard work and dedication to providing the highest standard of care for our communities.”
About ProCare
Property and Finance – Mortgage switching hits a record high as loan terms shorten – Cotality
A record number of existing mortgage holders changed lenders in June, likely reflecting the short-term structure of many loans and the current ability to switch with minimal or no break fees. The cashbacks being offered are the incentive to take advantage of these conditions.
Health and Employment – Fed-up hospital nurses striking today over chronic short-staffing – NZNO
Source: New Zealand Nurses Organisation
Health and Employment – Nurses strike for safe staffing benefits all New Zealanders – CTU
Source: NZCTU Te Kauae Kaimahi
The NZCTU Te Kauae Kaimahi is today supporting NZNO members across the country who are striking to push the Government to ensure safe staffing in the healthcare system.
“The NZCTU and wider union movement stand in solidarity with nurses, midwives and healthcare assistants who are standing up and fighting for safe staffing and quality care,” said NZCTU President Richard Wagstaff.
“Workers never make the decision to strike lightly. It is only when they have exhausted all other options. In this case, NZNO members are taking action on behalf of all New Zealanders to ensure safe staffing in the health system.
“Understaffing at Te Whatu Ora affects all of us – it increases hospital wait times, undermines quality safe healthcare and puts people at risk.
“The Government is prioritising tax cuts for the wealthy over essential public services such as our hospitals. That’s why this action is so important – we need to force the Government to guarantee safety in healthcare system.
“Everyone should be grateful to the nurses, midwives and healthcare assistants who are taking strike action this week,” said Wagstaff.
