It achieved strong market share growth across all business segments, with net profits increasing by 20% to a record $383m – a great achievement in competitive market conditions.
ASB prides itself on catering for individual, business and rural customers with outstanding financial expertise and excellent customer care. The bank won and retained a record number of customers, lowered its costs through practical application of technology and re-engineering of processes.
Among various other initiatives, ASB Bank offered its clients real-time banking services, improved online security and new in-branch facilities, such as internet kiosks and self-service money changing machines. Product development has been one of the key components in ASB’s success. Significant deposits turnover was achieved through the promotion of the FastSaver on-line savings product.
Great focus was put on improving communication between departments, defining internal customer service standards and facilitating close relationships between business units, which led to a closed referrals ratio of 43%.
“I am proud of the ASB team and what we have achieved,” says managing director Hugh Burrett. “ASB continues to set the benchmark in New Zealand and is determined to stay one step ahead.”
