Mortgage News

Kiwibank continues explosive growth; ASB profit drops

Wednesday 3rd of June 2009

Kiwibank's net profit jumped 93.3% to $14.3 million in the three months, bringing the increase in profit for the nine months ended March to 33.5% to $40.1 million, its general disclosure document (GDS) shows.

Kiwibank's profit growth was despite its charge against profit for impaired loans jumping $3.6 million in the quarter, bringing the charge for the nine months to $9.7 million.

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