9 Jul 2012

NZ Home Loans now wholly owned by Kiwibank

1:09 pm on 9 July 2012

Kiwibank has taken full control of New Zealand Home Loans after buying the remaining 24% it did not already own for an undisclosed amount.

The New Zealand Post subsidiary bought a 51% stake in 2006 and has progressively increased its shareholding since then.

New Zealand Home Loans accounts for 30% of Kiwibank's mortgage business and says it will write more than $950 million in business this year.