Kiwibank accounted for 25% of all bank mortgage lending in Dec half year

The government-owned bank's mortgage growth in the six months was also double the $634 million it lent in the same six months a year earlier.

Kiwibank is the fifth-largest New Zealand bank with total assets of $35.39 billion at Dec 31 compared with ASB Bank, the third largest bank, which had total assets of $126.45 billion at that date.

The bank said its total net new lending grew by $1.3 billion and 2.7 times faster than banks as a whole between June and December.

“The improved performance was driven by competitive pricing across key home lending rates and a continued focus on growing out relationship with advisers,” said chief executive Steve Jurkovich.