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Kiwibank
Kiwibank Limited is a New Zealand state-owned enterprise, state-owned bank and financial services provider. As of 2023, Kiwibank is the fifth-largest bank in New Zealand by assets, and the largest New Zealand-owned bank, with a market share of approximately 9%. In December 2023, the bank's assets totaled about $35 billion. Kiwibank was established in 2001 by the Fifth Labour Government of New Zealand, following a proposal by then Deputy Prime Minister Jim Anderton, to set up a locally-owned bank capable of competing with the Big Four (banking), Big Four Australian banks which dominated the domestic market. Initially, it operated as a subsidiary of NZ Post, New Zealand Post, with branches originally co-located within ''PostShops'' (post offices) to ensure nationwide accessibility. History Earlier state-owned banks Kiwibank is similar in some respects to an earlier post office-based bank owned by the New Zealand Government. The New Zealand Post Office Bank was established in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Post
NZ Post (), shortened from New Zealand Post, is a state-owned enterprise responsible for providing most postal services in New Zealand. The New Zealand Post Office, a government agency, provided postal, banking, and telecommunications services in New Zealand until 1987. By the 1980s, however, economic difficulties made the government reconsider how it delivered postal services. For example, in 1987–1988, the postal division lost NZ$50 million. In 1985, the Labour Party government under Prime Minister David Lange launched a review, led by New Zealand Motor Corporation CEO Roy Mason and KPMG New Zealand Chairman Michael Morris, to find solutions to the Post Office's problems. In its final report, the team recommended transforming the New Zealand Post Office into three state-owned enterprises. The government in 1986 decided to follow the Mason-Morris review's recommendations, and passed through parliament the State-Owned Enterprises Act, which corporatised several govern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NZ Post
NZ Post (), shortened from New Zealand Post, is a Government-owned corporation, state-owned enterprise responsible for providing most mail, postal services in New Zealand. The New Zealand Post Office, a government agency, provided postal, banking, and telecommunications services in New Zealand until 1987. By the 1980s, however, economic difficulties made the government reconsider how it delivered postal services. For example, in 1987–1988, the postal division lost New Zealand dollar, NZ$50 million. In 1985, the New Zealand Labour Party, Labour Party Fourth Labour Government of New Zealand, government under Prime Minister David Lange launched a review, led by New Zealand Motor Corporation CEO Roy Mason and KPMG New Zealand Chairman Michael Morris, to find solutions to the Post Office's problems. In its final report, the team recommended transforming the New Zealand Post Office into three state-owned enterprises. The government in 1986 decided to follow the Mason-Morris review ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jim Anderton
James Patrick Anderton (born Byrne; 21 January 1938 – 7 January 2018) was a New Zealand politician who led a succession of Left-wing politics, left-wing parties after leaving the New Zealand Labour Party, Labour Party in 1989. Anderton's political career began when he was elected to the Manukau City Council in 1965. After serving for five years as New Zealand Labour Party#List of presidents, Labour Party president, Anderton successfully stood as the Labour candidate for Sydenham (New Zealand electorate), Sydenham in Christchurch in . However, he soon came into conflict with the party's leadership, and became an outspoken critic of the Fourth Labour Government of New Zealand, Fourth Labour Government's free-market reforms, called Rogernomics. In April 1989, believing that Labour was beyond change, Anderton resigned from the party. As leader of the Alliance (New Zealand political party), Alliance and later the New Zealand Progressive Party, Progressive Party, he served as the 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PostBank
Post Office Savings Bank, or very briefly PostBank (trading name of Post Office Bank Limited), was a bank owned by the New Zealand Government as the government's postal savings system. The bank was established in 1867. It became PostBank in 1987 and was disestablished and the branches were rebranded when it was acquired by Australia and New Zealand Banking Group (ANZ) in 1989. History The Post Office Savings Bank was set up in 1867 to encourage thrift by ordinary people, and was immediately successful. One of the benefits of the Post Office Savings Bank was that customers could deposit and withdraw money at any branch of the bank. Business was conducted from post offices which were located in towns and cities all over New Zealand. By the 1910s customers were asking for the ability to withdraw their funds by cheque but successive postmasters-general refused to allow this, stating that the Post Office Savings Bank was not the same as a commercial bank, having as its objective ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Four (banking)
The Big Four (or Big 4) is the colloquial name given to the four main banks in several countries where the banking industry is dominated by just four institutions and where the phrase has thus gained relevance. Some countries include more or fewer institutions in such rankings, leading to other names such as Big Three, Big Five, or Big Six. International use Internationally, the term "Big Four Banks" has traditionally referred to the following central banks: Australia In Australia, the "big four banks" refers to the four largest banks that have historically dominated Australia's banking industry in terms of market share, revenue, and total assets. The "big four banks" of Australia are: A longstanding policy of the federal government in Australia has been to maintain this status quo, called the four pillars policy. The policy has been maintained through the Global Recession of 2008–09, as Westpac acquired St George Bank and the Commonwealth Bank acquired Bankwest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Bank
A public bank is a bank, a financial institution, in which a State (polity), state, municipality, or public actors are the owners. It is an enterprise under government control.Banque publique : une entreprise bancaire qui dépend de l'État - ComprendreChoisir.com Prominent among current public banking models are the Bank of North Dakota, the Sparkassen-Finanzgruppe in Germany, and many nations' Postal savings system, postal bank systems. Public or 'state-owned' banks proliferated globally in the late 19th and early 20th centuries as vital agents of industrialisation in capitalist and socialist countries alike; as late as 2012, state banks still owned and controlled up to 25 per cent of total global banking assets. Proponents of public banking argue that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fifth Labour Government Of New Zealand
The Fifth Labour Government of New Zealand was the List of New Zealand governments, government of New Zealand from 10 December 1999 to 19 November 2008. New Zealand Labour Party, Labour Party leader Helen Clark negotiated a coalition with Jim Anderton, leader of the Alliance (New Zealand political party), Alliance Party. Overview The previous government, the Fourth National Government of New Zealand, fourth National government, had been in power since 1990. It was widely unpopular by 1999, with much of the public antagonised by a series of free-market economic reforms, and was bedevilled by weakness and instability. In the 1999 general election, the Helen Clark-led New Zealand Labour Party, Labour Party defeated the National Party easily, becoming the largest single party in the New Zealand House of Representatives, House of Representatives. Labour formed a minority government, minority coalition government with the left-leaning Alliance (New Zealand political party), Alliance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accident Compensation Corporation
The Accident Compensation Corporation (ACC) () is the New Zealand Crown entity responsible for administering the country's No-fault insurance, no-fault accidental injury compensation scheme, commonly referred to as the ACC scheme. The scheme provides financial compensation and support to citizens, residents, and temporary visitors who have suffered personal injuries. The corporation was founded as the Accident Compensation Commission on 1 April 1974 as a result of the Accident Compensation Act 1972. Its principal governing act today is the Accident Compensation Act 2001. As a Crown entity, ACC is governed by a board that is responsible to the Minister for ACC. Unlike most other Crown entities, it has its own dedicated ministerial portfolio, which since February 2025 has been held by Scott Simpson (politician), Scott Simpson. History The ACC has its origins in the Workers' Compensation for Accidents Act 1900, which established a limited compensation scheme for workers who had suf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by Paul Reuter. The Thomson Corporation of Canada acquired the agency in a 2008 corporate merger, resulting in the formation of the Thomson Reuters Corporation. In December 2024, Reuters was ranked as the 27th most visited news site in the world, with over 105 million monthly readers. History 19th century Paul Julius Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions of 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Press
''The Press'' () is a daily newspaper published in Christchurch, New Zealand, owned by media business Stuff (company), Stuff Ltd. First published in 1861, the newspaper is the largest circulating daily in the South Island and publishes Monday to Saturday. One community newspaper—''Northern Outlook''—is also published by ''The Press'' and is free. The newspaper has won the title of New Zealand Newspaper of the Year (in its circulation category) three times: in 2006, 2007 and 2012. It has also won the overall Newspaper of the Year title twice: in 2006 and 2007. History Origins James FitzGerald (New Zealand politician), James FitzGerald came to Lyttelton, New Zealand, Lyttelton on the ''Charlotte Jane'' in December 1850, and was from January 1851 the first editor of the ''Lyttelton Times'', Canterbury, New Zealand, Canterbury's first newspaper. From 1853, he focussed on politics and withdrew from the ''Lyttelton Times''. After several years in England, he returned to Cante ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Superannuation Fund
The New Zealand Superannuation Fund () is a sovereign wealth fund in New Zealand. New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ageing population. The fund is a member of the International Forum of Sovereign Wealth Funds and is therefore signed up to the Santiago Principles on best practice in managing sovereign wealth funds. History The Superannuation Fund was created by the New Zealand Superannuation and Retirement Act 2001 on 11 October 2001 by Michael Cullen, who was then Minister of Finance under the Fifth Labour Government, and is colloquially known as the "Cullen Fund". The sovereign fund posted a record 25.8% return in the twelve months till 30 June 2013. In the 2009 New Zealand budget the National Government suspended payments to the fund. Contributions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Rating
A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government). It is the practice of predicting or forecasting the ability of a supposed debtor to pay back the debt or default. The credit rating represents an evaluation from a credit rating agency of the qualitative and quantitative information for the prospective debtor, including information provided by the prospective debtor and other non-public information obtained by the credit rating agency's analysts. Credit reporting (or credit score) is a subset of credit rating. It is a numeric evaluation of an ''individual's'' credit worthiness, which is done by a credit bureau or consumer credit reporting agency. Sovereign credit ratings A sovereign credit rating is the credit rating of a sovereign entity, such as a national government. The sovereign credit rating indicates the risk level of the investing environment of a country and is used by investors when looki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
