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Customer focus contributes to Public Trust result

Customer focus contributes to Public Trust result

A concerted effort to meet the changing needs of New Zealanders, through improved customer service, has contributed to another positive result for the year to 30 June 2012.

Chairman Trevor Janes said Public Trust had been transforming its business to match its customers’ needs and to be relevant to a wider range of New Zealanders.

“Building blocks are being put in place to ensure Public Trust will help New Zealanders grow and protect their assets in ways that best suit their circumstances.”

For example, customers can choose from a range of Public Trust savings and investment products or those provided by third parties, he said.

“This flexibility means we can retain the relationship with our customers and provide them with the risk and reward balance they are seeking.

“While we operate in an environment buffeted by continuing global financial uncertainty, a subdued domestic economy and increasing regulatory and compliance pressures, we are committed to meeting the changing needs of New Zealanders.

“We have ongoing initiatives underway to continue to improve customer service and strengthen our position as we work towards our goal of being the leader in the New Zealand trustee services market.”

For the year ended 30 June 2012 the business achieved a net profit of $7.1 million.

“To have recorded a third successive year of profit reflects a number of factors including a $9.9 million reversal of unrealised investment losses and the ongoing endeavours of management and employees to adjust to our changed business paradigm.

“Fee revenue increased 6.2 percent across Personal Business and Corporate customers and investment services” said Mr Janes.

Common Fund revenue was $2.7 million lower than last year as a result of a planned reduction of risk and the impact of widening credit spreads.

Operating costs were $2.3 million below budget for the year as a result of increased efficiency measures.

Public Trust has been helping New Zealanders for over 140 years and is New Zealand’s largest and most enduring trustee organisation. Public Trust has the experience and expertise to help New Zealanders grow and protect the important things in life, like family and property. For a full list of services visit www.publictrust.co.nz

ENDS

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