TSB Community Trust was formed in 1988 as a charitable trust when ownership of TSB Bank was transferred to it, so the bank’s profits could be used for community benefit in Taranaki.

How it came about

  • TSB Community Trust was established as the bank’s shareholder, rather than leaving ownership with private interests.
  • The trust’s income came from its asset, TSB Bank Ltd, which funded grants and community support.
  • It later became known as Toi Foundation, but its origins were in that 1988 community-ownership structure.

In plain terms

The idea was simple: instead of bank profits going elsewhere, they would be redirected into local projects and charitable work for Taranaki communities.

Context

Recent reporting still links today’s TSB-related ownership structure back to that foundation story, showing how the original trust model remained central to the bank’s community role.