Big bucks for the community (to be cont.)
ASB Trust rebrands
"The ASB Community Trust has ended its relationship with the ASB Bank and is rebranding itself as 'Foundation North'................... It gained a further $560 million when the Commonwealth bank bought out the remaining 25 % share in 2000 and its net assets are now valued at $1.1 billion. The Trust ... earned $81.7 million on its investments last year, spending $5.8 million on admin, giving out $34.9 million in grants and saving the rest to support future grants" ... etc
- todays NZ Herald pA14