Teachers Mutual Bank's community investment is seven times the Global average, and four times the Global Financial Services average, based on results from the LBG Annual Review 2018.
The LBG is the recognised global standard for measuring and benchmarking corporate community investment.
Over seven years of LBG reporting data, the gap between the Bank and the Global average has doubled from 3.5 times to 6.7 times.
The Bank outperforms LBG Global and national Benchmarks by investing 6.7% of pre-tax profits on community investment—a total of $3 million. This is;
- 6.7 times the global Benchmark average of 1%
- 4.2 times the Global Financial Services sector average of 1.59%
- 9.3 times the Australia and New Zealand average of 0.72%
The 6.7% investment of NPBT (net profit before tax) is equal to 9.5% of NPAT (net profit after tax).
The LBG also measures the subject focus area of community investment. The Bank invests 98.2% of its community investment into 'Education and Young People' compared to 14.2% for the Australia and New Zealand average and 29% for the Global Financial Services average.
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