Farming is a business, but it's a business like no other. Few other sectors face so many variables; weather, world markets, and exchange rate fluctuations to name a few. With such uncertainty you need a bank that is with you for the long haul, that will support you through bad times and help you capitalise on the good.
A growing business
We planted our seeds in 1993 with just eight rural managers. Here's a snap-shot of what followed:
- 1998 - Lending and deposits reached $1 billion.
- 2004 - Lending and deposits totalled $3 billion.
- 2005 - Voted No1 rural bank in the Consumer Institute Survey*.
- 2008 - Lending and deposits totalling nearly $7 billion and 200 staff dedicated to helping rural customers throughout New Zealand.
*Consumers Institute of New Zealand Ltd, Farmers Satisfaction Survey Results, January 2006.
Banking expertise and grass roots understanding
The ASB rural team have a good grasp of rural business realities. Many are farmers themselves or have experience in farming, so they have an in-depth understanding of the market's ups and downs. They're also very much a part of their local community, because it's the place they like to call home. In the spirit of rural life, they tend to stick with us and get on with the job at hand. So you can rely on them being in for the long haul.
Just as important is the fact that they're also experienced and smart bankers. We continue their learning through overseas travel, management development and public speaking programmes. It's all about keeping their knowledge and skills up with the play, so they can bring them home to you. They also have access to specialists in a wide range of areas, like Investment and Financial Markets, so you can be assured we'll help manage your risk and provide the right advice.
No task too big
If you have a large business, our Rural Corporate Division can add value to your business by providing financial solutions for complex funding requirements. Our experienced team has both Rural and Corporate banking expertise, meaning they have the capability to execute complex funding transactions, allowing you to get on with running your business.
We also have an Equity Syndicate Division, which can help facilitate the finance requirements of your equity syndicate, introduce you to like-minded investment partners, and help you consider different options for your business.
No farm too small
You may have a relatively small operation that requires lower levels of finance. With such straightforward banking requirements, you would rightly expect a more on-the-spot service with borrowing decisions. That's why we set up Farmline with a team who specialise in understanding and meeting the priorities of smaller rural businesses. They're backed by decision making authorities and operating processes that are in-step with your kind of business.
