The Bank of Bermuda and the charitable foundation that shares its name are to focus their giving this year on charities addressing social needs likely to escalate during the economic downturn.

Organisations dealing with children, the elderly and violence against the vulnerable are among those the Bank of Bermuda Foundation is seeking to help the most this year.

David Lang, who heads up the bank's Office on Philanthropy and administers the Foundation, said this year would see a change from the normal policy of advertising widely for applications.

"The board believes there will be a growing social need this year, as the financial crisis bites and as people lose their jobs," Mr. Lang said.

No money would be donated to charities looking to make major capital investments, he said.

The Foundation is actively targeting charities including The Family Centre, Meals on Wheels, Age Concern, the Council on Ageing, the Salvation Army, the Women's Resource Centre and the Women's Treatment Centre.

The bank focuses its support of the community on three areas — education, the environment and community. It launches a major advertising campaign today to stress its commitment to a "partnership with our community".

Bank of Bermuda's chief executive officer Philip Butterfield, who is also chairman of Foundation's Human Services and Housing Sub-committee, said that scholarships would continue to be supported. Last year the Foundation gave out 21 scholarships with a value of $702,000.

Since 1989, the Foundation has invested around $40 million in the community and would expect to donate between $3 million and $3.5 million per year.

The bank makes its own separate charitable efforts and last year it gave $1.4 million to community sponsorships and programmes. Its employees also gave a total of 1,600 man hours working on various community projects, on the Community Action Days held by the bank.

Mr. Butterfield said: "The bank and the Foundation need to present ourselves in a coordinated fashion and to see opportunities to pool resources.

"We've been involved in corporate social responsibility for a long time. We're separate entities, but we have a shared purpose."

Mr. Lang said charities were rethinking their approach to raising funds in these difficult economic times. He added that much of the weight of charitable giving on the Island fell on the shoulders of corporate Bermuda, which provided around three-quarters of donations. In the US, three-quarters of amounts donated come from individuals.

The bank has supported projects like the Rockaway homes for seniors in Southampton, the Bank of Bermuda Atlantic Explorer research vessel operated by Bermuda Institute of Ocean Sciences, and the Adult Education School, which provides a literacy programme.

The motto of the advertising campaign will be: Because we care, because we can, because we want to.