Kiwibank puts its money where its mouth should be

Kiwibank's capital cock-up took an unexpected turn this week when the bank made another extraordinary announcement. On Friday, the bank let us know that its parents will bail out the bank with an infusion of $247 million of common equity.

Sheesh, I thought only Italy did bail-outs!

Infusing equity capital is the last thing a bank wants to do. Look at what…