Kiwibank staff plan two‑hour walkout over 2.25% pay offer

Kiwibank workers across New Zealand will stage a two‑hour strike on Monday from noon to 2 p.m. to protest a 2.25 percent pay increase offer. The walkout will involve customer‑service staff in branches and call centres as well as employees in other bank roles. E tū union assistant national secretary Mat Danaher said the bank can afford a better deal after reporting a $174 million profit for the year to June. He noted that during the same period Kiwibank’s lending grew by $3.1 billion and deposits rose by $2.4 billion, yet net profit fell $191 million, according to the union. “A $174 million profit is a strong result by anyone’s measure. Kiwibank can’t point to a smaller number than last year and pretend times are tough,” Danaher said. “The bank is growing faster than its rivals and says it is investing more than ever, then offers workers only 2.25 percent. That doesn’t add up.” Danaher added that staff opened accounts, answered phones and helped nearly 8,000 people buy homes this year, and need a wage rise that matches the cost of raising a family. Kiwibank said 109 employees – about 4 percent of its workforce – will participate, but services will continue as normal during the two‑hour period. The bank’s spokesperson said it remains committed to reaching a fair outcome for staff and the business. The bank’s statement emphasized that its operations will not be disrupted and that it will keep negotiating with the union. The short duration was chosen to limit inconvenience to customers while sending a clear message to management.

Context

The strike highlights a broader tension in New Zealand’s banking sector where profit growth and expanding loan books are prompting staff to demand higher wages to keep pace with living costs.