7 February 2017

Teachers Mutual Bank Limited has today announced it has joined the Global Alliance for Banking on Values (GABV), an international network of 39 member banks dedicated to working collaboratively to expand and develop sustainable, values-based banking practices around the world.

This membership strengthens Teachers Mutual Bank Limited’s commitment to sustainability, as demonstrated by measuring community investment goals against the London Benchmarking Group standards. 

This new  membership also builds on Teachers Mutual Bank Limited’s international status as a values-based mutual bank, having already been named one of the World’s Most Ethical Companies by the Ethisphere Institute.

‘Doing business ethically and sustainably are core values that drive our model of mutual banking. Joining the GABV reflects our desire to promote these values globally and to work collaboratively with other international financial institutions towards shared sustainability goals’, said Steve James, Chief Executive Officer of Teachers Mutual Bank Limited.

Teachers Mutual Bank Limited is the second Australian bank to be granted membership of the GABV, the first being Bank Australia. The two banks will work together to promote values-based banking practices in Australia.  

‘We’re looking forward to being a strong contributor and leader in the GABV network. We are keen to share the successes of our community and sustainability investments with our global partners, and to learn from their initiatives’, said Steve James.

The GABV membership collectively serves more than 24 million customers, and represents up to $110 billion USD of combined assets in the values-based banking industry across Asia, Africa, Australia, Latin America, North America, and Europe.

Steve James, CEO of Teachers Mutual Bank Limited will be attending the Annual Meeting of the GABV, in Kathmandu, Nepal in March 2017.

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