Wellington, Aug 18 NZPA - Kiwibank has announced an after-tax profit of $45.8 million for the year ended June 30, a decrease of 13 percent from $52.5m a year ago. Chief executive Sam Knowles described the result as "solid and consistent with a tough environment".

Wellington, Aug 12 NZPA - Former New Zealand Business Roundtable chairman Sir Ralph Norris said state-owned Kiwibank does not have enough capital because it is under pricing its products.

Wellington, Aug 10 NZPA - Kiwibank, National Bank and BNZ are the latest banks to lift their floating mortgage rates and cut longer term fixed rates after the Reserve Bank hiked the official cash rate by 25 percentage points to 3 percent last month.

Has Alan Bollard put pressure on banks to hold rates and lower their margins by increasing the OCR or, will it be business as usual, OCR goes up, retail interest rates go up?

Wellington, July 5 NZPA - Kiwibank has lowered its three, four and five-year fixed mortgage rates, keeping them to around the same level as those of the major banks, but the lower rates are not necessarily seen as giving a boost to the faltering housing market.

Wellington, July 2 NZPA - The boss of state-owned Kiwibank wants people to be compelled to join KiwiSaver, with individual contributions rising gradually over the next decade or two to reach 10 percent of income.

Wellington, July 1 NZPA - State-owned Kiwibank has triggered a new battle in the home loan market with ANZ National Bank moving quickly to cut fixed lending rates after Kiwibank cut its two-year fixed home loan rate.

Wellington, July 1 NZPA - Kiwibank is cutting its two-year fixed home loan rate to 6.99 percent per annum from 7.30 percent. Kiwibank chief executive Sam Knowles said the rate cut was to give some certainty to customers who are concerned about interest rate volatility.

By Kate Chapman of NZPA Wellington, June 22 NZPA - The Labour Party learnt a lesson about people in glass houses today when they tried to throw stones at the Government over the sale of state owned assets in Parliament.

Wellington, June 21 NZPA - ANZ National Bank, Kiwibank and Westpac are increasing some mortgage rates after the Reserve Bank of New Zealand hiked the official cash rate by 25 basis points to 2.75 percent earlier this month.