Record year for National Savings

24-08-2006

National Savings & Investment (NS&I), the government-backed agency designed to promote personal savings within a 100 per cent guaranteed environment, has recorded record investment levels of £73.4 billion.

Revealing its annual results today, NS&I said it had invested seven per cent more than during last year.

It also improved its sales by seven per cent thanks to a high profile advertising campaign featuring Sir Alan Sugar, the development of its internet and telephone sales channels and the introduction of a second £1 million premium bonds jackpot in 2005.

"We've had a remarkable year at NS&I, with significant developments for customers, many making it easier for them to save and invest with us," commented Trevor Bayley, NS&I’s acting chief executive.

"The combined efforts of NS&I, Siemens and the Post Office have helped make this a successful year, and we aim to build on this success in the coming years by continually improving products and services for customers, making NS&I an even better place to work, galvanising our existing partnerships and developing quality relationships with new partners."

NS&I transferred its service delivery arm, including 4,000 staff, to Siemens Business Services in April 1999 during the establishment of one of the first Public Private Partnerships. Although it took over the Post Office Savings Bank in 1969, it continues to sell its products through the Post Office and collaborates closely with the older institution.

In addition to providing the public with a secure source for saving, NS&I's remit to provide the Exchequer with a source of funding saw it relieve the taxpayer of £267.51m, saving additional government borrowing.


Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
Health / Beauty
Hotel / Catering / Restaurants
HR / Recruitment
Insurance / Pensions
International / Overseas
IT / Internet
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure