Mortgage firm backs Kiwibank as a disruptor

At the weekend finance minister Nicola Willis told the National Party Conference she wants to look for external investors for Kiwibank to take on the big four Australian banks.

She says Kiwibank can’t become a disruptive competitor without extra capital. “And I am interested in exploring where that capital might come from.

“So, let’s have a look at what’s possible. It’s time to explore all the options.”

Her speech follows the Commerce Commission’s recent study into banking competition. It recommended injecting more capital into the bank as the best way to enhance competition in the short term.