Media release
4 November 2025
Public Trust has released its 2024/2025 full year financial results, reporting net profit before tax of $6.5 million on revenue of $85.6 million. The government-owned trustee business also announced a distribution of $2.25 million of capital to the Crown.
Performance highlights from 2024/2025 financial year
$85.6 million annual revenue – up 3% year-on-year
$6.5 million net profit before tax
$2.25 million capital distribution to the government
$1.5 billion investment funds under management as at 30 June 2025
$128.6 billion Corporate Trustee Services consolidated funds under supervision as at 30 June 2025; $57.9 billion of which is KiwiSaver.
Chief Executive Glenys Talivai said the result reflects Public Trust’s ability to deliver for customers in a changing environment.
“In a year marked by market volatility and reduced consumer spending, this solid commercial result demonstrates the resilience of our business and the relevance of our core estate planning and administration services.”
Sales of new wills and enduring powers of attorney (EPAs) grew by 6%. “Wills and EPAs are key to financial wellbeing and protection. While future planning is deferred when household budgets come under pressure, helping more people put these critical life planning documents in place remains a strategic priority,” Talivai said.
Revenue performance was impacted by increased demand for non-commercial services provided to the Courts. Public Trust absorbed $1.8 million in costs associated with the delivery of protective services for vulnerable New Zealanders in keeping with its public service mandate.
Public Trust’s corporate trustee division was a standout revenue performer, said Talivai. “Public Trust safeguards the interests of over a million New Zealanders through its regulated supervision of managed investment schemes and financial products. Corporate Trustee Services revenue of $23.7 million increased 23% on the prior year, driven by strong market performance. While revenue from Fee Protect, our education escrow service, increased 24% as student enrolments rebounded to pre-pandemic levels.”
During the year, Public Trust launched a new customer engagement hub and advanced a major technology upgrade. “With the economic outlook expected to remain challenging in the near term, we are focused on improving the efficiency and effectiveness of how we operate and innovate, to deliver more value for our customers,” she said.
Commenting on the results, Chair Karen Price said Public Trust has continued to maintain a healthy balance sheet and deliver an appropriate return as a commercial entity.
“The Board is pleased to distribute a $2.25 million return of capital to the Crown.
“Our business outlook remains positive. New Zealand’s ageing and changing population, shifting family structures, new technology and the great wealth transfer all present significant opportunities for growth. These forces are transforming how New Zealanders plan for the future.
“As we advance our long-term business strategy, we remain deeply connected to the needs of New Zealanders. By investing in our digital capability and delivering great customer experiences, we are ensuring Public Trust remains relevant in changing times.”
The Public Trust FY25 Annual Report is available here.
ENDS
High-res images are available on request. Please contact:
Georgie Hills, Head of Communications, phone 0212593016, [email protected]
About Public Trust
Public Trust is New Zealand’s largest provider of trustee and estate administration services. Established 150 years ago, Public Trust is a self-funding autonomous Crown entity. Our unique role is to empower all New Zealanders to build and protect their legacies.
We provide trustee and comprehensive estate administration services for individuals through our Retail business, and corporate trustee, supervisory and custodial services through our Corporate Trustee Services business. We also have an important part to play in the charitable trust sector. Our Investment team manages around $1.5 billion of funds (as at 30 June 2025), primarily for charities, estate beneficiaries, and students (through our Fee Protect service).