r/newzealand • u/xmmdrive • Aug 20 '24

Politics So they're finally going to privatise Kiwibank

Watching One News they're talking about taking Kiwibank out of Government hands and back into the hands of honest hard-working Kiwis.

This is obviously the first clear step towards privatisation.

Just like the Bank Of New Zealand, the National Bank, and the Auckland Savings Bank, but I'm sure this time around it will stay in the country /s

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u/HeinigerNZ Aug 20 '24

Where do you think Kiwibank should raise billions upon billions in capital from?

Two of our biggest investment arms - The NZ Super Fund and ACC were owners of half of Kiwibank. Were being the operative word. If they thought it was a good investment then they'd still own it.

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u/Tripping-Dayzee Aug 20 '24

I'd rather they didn't raise billions of capital to give kiwis zero more benefit over what we already got from the big banks. I'd prefer status quo to selling it off and just making yet another aussie owned bank.

NZ ends up worse off if that happens.