Kiwibank is not for sale.

The Acting Prime Minister said the Government won't consider selling off Kiwibank, out of principle.

Bill English isn't ruling out the possibility of the Bank being separated from New Zealand Post, but he says that won't mean selling it.

He told Larry Williams the Government has given clear undertakings not to do that - even if Kiwibank needs more capital.

"Were not going to do it. I think most people, including the Government, are of the view that Kiwibank should be 100 per cent public ownership, that's what's distinctive about it".