Photo: RNZ / Nate McKinnon
The government is buying back Kiwibank to take full ownership. It has just announced the purchase of Kiwi Group, the parent company of Kiwibank, valuing it at $2.1 billion.
Until now Kiwi Group Holdings had been owned by NZ Post, ACC and the NZ Super fund.
The NZ Superfund had expressed an interest in buying a majority holding in Kiwi Group Hodings but the government's pledge to keep the bank fully locally-owned made that impossible.
Kathryn speaks with business commentator, editor and co-founder of BusinessDesk , Pattrick Smellie.
