7 February 2002 Media Statement
Kiwibank founding customer happy
Jim Anderton, Alliance leader and Deputy Prime Minister is a founding customer of the Kiwibank and has already opened
his account with the new bank.
Jim Anderton welcomed the announcement today of the Kiwibank charges and services and the roll out of the branches.
“The Labour Alliance Coalition Government’s policy was to have a publicly owned bank with a national network and lower
fees and I am personally committed to that policy,” Alliance leader and deputy Prime Minister Jim Anderton said.
The policy has already resulted in lower bank fees through the competitive response of other banks.
“Given that the Kiwibank business plan presented to Government envisaged it would be profitable in three years, and an
asset worth $500 million after ten years, I remain confident that this is a very positive Government policy initiative,”
Jim Anderton said.
ENDS