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Bank’s Certified RIAA products increase to $9.7 billion, as of Dec 31 2021

  • Almost 50% balance sheet Certified – 42% assets and 57% liabilities  
  • Certified mortgages and deposits up from zero to $9.2 billion in 3 years
  • Certification essential as greenwash fears rise in ESG boom

April 5: Figures released today show our Responsible Investment Association Australasia (RIAA) Certified product portfolio has grown by $1.4bn to $9.7 billion in the 6 months to December 31, 2021. The Bank’s RIAA Certified products now make up 42% of assets and 57% of liabilities on the balance sheet.

Steve James, CEO of Teachers Mutual Bank Limited said: 

“We’re delighted by these figures showing the rapid growth of our Certified Responsible Investment products. In the 3 years that we first certified all our retail mortgages and deposit products with RIAA, these have gone from zero to $9.2 billion, all at zero cost to the consumer. RIAA Certified products now make up almost half of our balance sheet; it’s a huge achievement which we’re very proud of. The rapid growth is because this is built in as standard, not a bolt-on green niche. We are a force for good where social responsibility drives everything, and these figures prove that.”

Head of Socially Responsible Banking, Corin Millais, said:

“Certification is the cure for greenwash. We’ve invested in the toughest ESG standards such as RIAA and B Corp, because third-party assessments give people proof that we can be trusted, that we are a leader, and that we really are a force for good in banking. We can guarantee 100% that the money you borrow from us for your mortgage never comes from damaging industries such as fossil fuels, tobacco, gambling, and nor do we fund those industries with your deposits.”

Teachers Mutual Bank Limited is the only bank in Australia with all wholesale products, mortgages and deposits certified as Responsible Investment by the RIAA, and is the only bank named as a Responsible Investment Leader by the RIAA.

Read the briefing here

Read the press release here