Tauranga Based First Mortgage Trust has plenty to celebrate this week.
First, there's the significant milestone of 21 years in business. By any measure that is a long period of consistent growth.
Second, First Mortgage Trust has now crossed into substantial financial territory, with more than $500 million of investorfunds under management.
It's a figure that makes the Trust one of the region's true powerhouses. The Trust is recognized for its lending strength far beyond its home region.
As New Zealand's largest non-bank first mortgage lender on commercial, industrial, residential and rural property, First Mortgage Trust has long been building a major reputation in the sector, throughout the Bay of Plenty, Waikato and Auckland regions, and beyond.
CEO Tony Kinzett said, "Our financial growth and our extended operational history have depended on our resolute conservative approach. Year after year, First Mortgage Trust has gone from strength to strength, both in terms of serving our investors and in meeting the needs and aspirations of borrowers. Our strong governance, unwavering operational care and prudent risk management underpin both arms of our business.
"On the one hand, we aim to be a reliable and high performing investor opportunity. On the other hand, within our relatively conservative policies, we are active and willing lenders. Our continuing growth and additional strength should allow us to fulfil both of these objectives ever more diligently."
The approach is certainly working. The Trust's responsible management, financial scale and extensive property sector diversification has, to date, provided investors, with favourable returns (when compared to our trading banks) and valuable risk management.
At the same time, with such considerable funding available, the Trust is a natural port of call for property borrowers.
They're good reasons to look ahead with confidence for another 21 years.
