Kiwibank's mortgage lending accelerated in the 2nd half

Steve Jurkovich, Kiwibank

The bank’s disclosure statement showed it lent $2.64 billion in net new mortgages for the year ended June 30 with $1.42 billion of that coming in the second half, taking its mortgage book to $30.39 billion.

Kiwibank’s share of the mortgage market was 7.8% at March 31 while its accounted for 14.3% of net new lending by registered banks in the year ended June, based on RBNZ data.

Chief executive Steve Jurkovich says the government-owned back signed up a further 250 advisers during the year, taking the total to 1,536, which he estimates includes about 85% of advisers in the market by volume of loans generated.

Non-aligned advisers accounted for 57% of Kiwibank’s mortgage lending and two-thirds including the contribution of sister company New Zealand Home Loans, Jurkovich says.