Kiwibank says it'll be back in compliance with banking registration conditions from Nov. 30, five-and-a-half months after breaching them

By Gareth Vaughan

Kiwibank, which has been in breach of its bank registration conditions since June due to having one too few independent directors, says it should be compliant again at the end of the month.

Grant Paterson stood down as a Kiwibank director on June 18 due to poor health. Since then Kiwibank has failed to meet the requirement that at least half its directors be deemed independent of parent New Zealand Post.

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