Kiribati receives $1.2 million in dividends from ANZ Bank (Kiribati)

Bairiki, Tarawa, 16 April, 2014—Kiribati received last week a total of $1,239,536.00 million as dividend from the ANZ Bank.

According to a report from the Ministry of Finance and Economic Development, the audit report for the year ended 30 September 2013 which was issued on 27 February of this year indicates ANZ’s operating profit (after income tax) of $4,958,000.00.

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The Finance Ministry added that the amount received – ($1,239,536.00 million) on the 11th of April is Kiribati’s share of its 25% ownership in the ANZ Bank (Kiribati) and will go towards the operations of government.

The report added that Kiribati’s share is calculated based on the 25% of $4,958,000.00.

ANZ first landed its iconic blue colors in Kiribati in 2000 when it purchased 75% from the then Bank of Kiribati.