Don't ignore Kiwi Bank, warns expert

The concept of a Kiwi Bank might not seem feasible, but financiers who ignore the prospect do so at their peril, says David Tripe, director of the Massey University Centre for Banking Studies.

He was opposed to the bank on principle.

"A Kiwi Bank could be a disaster, but until such time as its functions and role have been defined, it's unfair to make that judgment," he told the Australasian Institute of Banking and Finance in Christchurch yesterday.

- NZPA