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Teachers Mutual Bank is a global leader in community investment for the third year running, based on the results of the 2014 London Benchmarking Group Australia and the LBG Global Review 2014.
Teachers Mutual Bank outperforms the LBG Au & NZ and LBG Global average by spending 4.55% of pre-tax profits on community investment—a total of $1.67m for FY 2013-14.
“As a purpose-driven bank, putting profits back into the community is extremely important to us. We’re proud to be leading the way not just in Australia but globally. If all banks spent 4% of their profit in the community, the impact would be billions.” said Steve James, CEO of Teachers Mutual Bank.
The LBG data shows that Teachers Mutual Bank invests 4.55% of profits back into the community, 12.6 times the financial services sector average for Au & NZ.
The mutual’s community investment of 4.55% of pre-tax profit is;
Teachers Mutual Banks’ average contribution per full-time employee (FTE) is $3,867. This is;
As one of the smaller companies in the LBG Au&NZ membership, Teachers Mutual Bank’s community investment for FY2013/14 of $1.67 million compares to the LBG Au&NZ average company contribution of $4.09 million.
The LBG is the global standard for measuring and benchmarking corporate community investment.
The LBG model provides a comprehensive and consistent set of measures to determine an organisation’s contribution to the community, including cash, time, in-kind donations, and management costs. There are 200+ corporate members worldwide, 164 companies participated in the Global and Au & NZ benchmarks, of which 46 were in Australia & New Zealand.
44 financial services companies are in the LBG benchmarks, including ANZ, Axa, Barclays, Citi, Credit Suisse AG, ING, NAB.
3 year trends
2014 LBG results
Teachers Mutual Bank score
Difference of TMB to the Benchmark score
Global LBG Benchmark (164 companies reporting)
$ Contribution as a % of pre-tax profit (NPBT)
$ Contribution per employee
Contribution as % of total revenue
LBG Au&NZ Benchmark (46
companies reporting) (2)
$ Contribution as a % of pre- tax
Total Community investment
0.9% of total
Average contribution per company
41% of the average
LBG Au&NZ Benchmark financial
$ Contribution as % of pre-tax profit (NPBT)
Average contribution per finance company
16% of the average
Total contribution by this sector
$72m in total
the 164 LBG Global members ( includes Au&NZ) 44 (26%) are financial
Access Bank, Allianz UK, ANZ, Arab African International Bank, Australian
Unity, Aviva, AXA, Banco Espirito Santo, Bank
of America, Merrill Lynch, Barclays, BBVA, Capital One, Citi, Credit
Suisse AG, Deutsche Bank AG London, Friends Life, GE Money Bank, ING,
Intesa San Paolo, Investec plc, IPF,
Medibank, NAB Nationwide, Old Mutual Group,
Provident Financial, Prudence Foundation, Prudential, PZU, Raiffeisen Bank , Rothschild, RSA Group, Santander,
Schroders, Standard Chartered, Standard Life,
Suncorp, Teachers Mutual Bank, The Royal Bank of Scotland Group, UBS,
(2) Of the LBG Au&NZ total of 46 companies,
7 (15%) are financial services;
ANZ, Australian Unity, Medibank, National
Australia Bank, Suncorp Group, Toyota Financial Services, Teachers Mutual
Note: Data is taken from the official LBG report provided to Teachers
Mutual Bank, and public data from LBG International report,
and the 2014 London Benchmarking Group Australia and New Zealand Annual
Data is from FY 2014.