8 Sep 2011

BNZ sets up Maori business division

5:34 pm on 8 September 2011

The Bank of New Zealand has set up a division dedicated to Maori business.

Iwi are becoming an increasingly potent force in the economy because of Treaty of Waitangi settlements.

Te Puni Kokiri estimates the total asset base of the Maori economy was nearly $37 billion in 2010, double that of four years earlier.

BNZ has appointed Pierre Tohe as its head of Maori business and he says the bank is seeking to deepen its relationship with Maori clients.