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National Australia Bank and Teachers Mutual Bank have been named as two of the most ethical banks in the world for the second consecutive year.
They were two of the 132 companies across 21 countries that were honoured recently in the annual World’s Most Ethical Companies list.
They were also the only Australian companies recognised by the US-based Ethisphere Institute.
Only three other banks made the list – two from the US and one from Brazil.
To make the cut, companies must excel in five key categories: ethics and compliance program, corporate citizenship and responsibility, culture and ethics, governance and leadership, and innovation and reputation.
Teachers Mutual Bank CEO Steve James said it was a significant achievement for the lender to be recognised on the international stage for its long-term commitment to ethical business practices.
“Profitability and sustainability are not mutually exclusive,” he said. “We believe it is our responsibility as a business to invest in ethical practices and to leave a positive mark on the community in which we operate.
“There is a growing tide of socially-aware consumers who are sending a strong message by demanding ethical and sustainable practices from the businesses they deal with.”
[Related: Three Aussie lenders make 2014 Most Ethical Companies list]
