Kiwibank's profit has fallen, with lower fees hitting the state-owned bank's income

It has reported a net after tax profit of 108 million dollars for the year to June 30.

That's six percent down on the previous year's 115 million.

It's income is down over 24 percent, but lending and deposits have hit a record.

Lending's up 12 percent to 20 billion dollars - and deposits are up 13 percent to 18 billion.