Economy / Politics

Finance Minister on move to buy company that owns Kiwibank

07:36 am on 23 August 2022

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The government is the country latest bank manager.

The Crown is buying Kiwi Group Holdings, the company that owns Kiwibank and the soon-to-be-sold Kiwi Wealth, from the Superannuation Fund, ACC and NZ Post.

The government says it intends keeping a sensible distance between itself and the day-to-day running of its latest asset.

The Prime Minister says it was both exciting and reassuring that the government will "safeguard" Kiwibank's long-term future in New Zealand ownership.

Finance Minister Grant Robertson spoke to Corin Dann.