Kiwibank was set up in 2001, a product of Minister of Economic Development Jim Anderton’s determination to have a nationwide New Zealand-owned and operated bank established. The bank used the network of government-owned post offices as a platform. It aimed to challenge the overwhelming dominance of the Australian-owned and other overseas-owned banks, which accounted for around 80% of New Zealand banking business.
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Alexander Turnbull Library
Cartoon by Ashley W. Smith
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