Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


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


© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>


Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>


Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>


Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>