Corporate Social Responsibility Practices: A Study on Foreign Commercial Banks in Bangladesh

Abstract

Corporate Social Responsibility (CSR) is an important portion of an enterprise, bank or other industry. Corporate social responsibility increases the growth and success of a firm. Corporate Social Responsibility means responsibility for the people of the society about the country. The development of a society or a country happens only when the financial institutions like the bank of the country properly maintain their corporate social responsibility. Furthermore, there is a positive relationship between corporate social responsibility and customer perceptions towards the corporations. In our paper, we discussed the theoretical framework of the CSR. The theoretical framework includes bright sides of the CSR and limitations of the CSR. We also analyze 5 commercial banks Bank Al- Falah, Habib Bank Ltd., HSBC, Commercial Bank of Ceylon, and Standard Chartered Banks CSR contribution in corporate social responsibility. We compare their contribution in 2018 and 2019 year. We see that some areas of contribution decrease in 2019 as compared to 2018. There is no contribution to infrastructure development. At last, we recommend foreign commercial banks to increase CSR contribution in some specific areas. Keywords: Corporate Social Responsibility, Foreign Commercial Banks, Social Contribution, Welfare. DOI: 10.7176/EJBM/12-21-16 Publication date:July 31st 202