Story perspectives

Government Orders Kiwibank Draft New Capital Plans Amid Sale Push

5/13/2026

Summary

Story summary

The government revived a partial-sale push by ordering Kiwibank to draft new growth-capital plans after the bank abandoned a $500 million capital raise.
State Owned Enterprises Minister Simeon Brown sent Kiwi Group Capital a letter demanding alternative growth scenarios and warning Crown funds are limited.
Simplicity managing director Sam Stubbs said a public NZX listing is preferred, arguing Kiwibank cannot compete as an under-capitalised state-owned bank.

1 of 1

Story summary

The government revived a partial-sale push by ordering Kiwibank to draft new growth-capital plans after the bank abandoned a $500 million capital raise.
State Owned Enterprises Minister Simeon Brown sent Kiwi Group Capital a letter demanding alternative growth scenarios and warning Crown funds are limited.
Simplicity managing director Sam Stubbs said a public NZX listing is preferred, arguing Kiwibank cannot compete as an under-capitalised state-owned bank.