RIP Kiwibank

By now most Kiwibank customers will have had their email from CEO Paul Brock telling them he wanted them “to be the first to hear the big news”. Though most would have already read about it in their daily newspaper.

The big news is that the ACC investment fund and the National Superannuation Fund have bought a 47% stake in Kiwibank. Evidently Kiwibank customers are expected to be over the moon with this deal.

Sorry Mr Brock, don’t expect us to join the celebrations. Kiwibank as we know it has gone. Continue reading