IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON BANKING INDUSTRY

ABSTRACT

The research examines the impact of corporate social responsibility on banking industry in Osogbo particularly in the First Bank, GTB and Diamond Bank respectively. For organisation to grow, survive and have favourable image, it must be socially responsible because it is regarded as the overall personality of an organisation while it serve as a soft selling strategies. Stakeholder Theory and Gruning & Hunt Model was used. Survey research method was used while the data collection instrument used was the questionnaire. The study will employ Non-probability sampling technique to select 150 respondents in First Bank, GTB and Diamond Bank. The data were analysed in frequency and percentage method. It is obvious that, many banks in Osogbo particularly GTB and First bank are said to be social responsible in most of their dealing with customers and community where they operate. No wonder the image of First Bank and GTB is very bright as more people prefer them, as a result of this one can conclude that “image is the company” and vice versa and no company cannot survival without a good image and effective communication. It is recommended that public relations unit should ensure that image of their bank is their priority because the image is the company while certain amount of money should be earmark time to time especially annually while budgeting for social responsibility activities and programmes while the company should not forget to evaluate their result from time to time.

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