Kiwibank to close more than 20 branches

Kiwibank, the brand that brought local banking back into fashion, is axing more than 20 of its branches, including the Hokowhitu and Awapuni branches in Palmerston North, angering customers who bought into its patriotism-based advertising.

The closures come as Kiwibank instigator Jim Anderton credits the bank with reversing a trend towards shutting small branches.

David Tripe, director of Massey University's Centre for Banking Studies, said Kiwibank was undermining its own public relations pitch. "Essentially they're looking to close branches for the same reason as all the other banks closed them in the 1990s."

Since launching in 2002, Kiwibank has attracted 650,000 customers. Its advertising uses World War II-era imagery to push a theme of resistance to foreign invaders the overseas-owned banks, which shut more than 1300 New Zealand branches in the 1980s and 1990s.

Since January, Kiwibank's owner, New Zealand Post, has either shut, or announced plans to shut, at least 20 of its about 300 branches, prompting public meetings, petitions and demonstrations. Fairfax

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