Teachers Mutual Bank Limited’s FY22 Community Investment data published: 5.3 times the major banks
Teachers Mutual Bank Limited has published its FY22 Community Investment data revealing it is 5.3 times that of the major banks.
Included in the report is the total direct cash investment in the community which was $1.034 million for the period. This is the total amount of direct monetary contributions paid directly to community organisations or in direct support of community activities.
This community Investment contribution is 3.2% of NPAT (Net Profit After Tax) compared with the average contribution of the major four banks which is 0.6%.
This demonstrates, TMBL’s direct community investment, as a percentage of NPAT, is 5.3 times greater than the average of the major four banks – a result the Bank is proud to have achieved.
External consultancy firm Incus Group, reviewed and measured the Bank’s community investment contributions and undertook benchmarking to verify the data.