Corporate Social Responsibility And Financial Performance: The Case Of 4 Commercial Banks In Vietnam
Abstract
Corporate social responsibility (CSR) has been increasingly popular in
Vietnam, even though the concept is still not well-known to many businesses. One
question keeps lingering around is whether CSR really has good impact on the
performance of the company or is it just a way of marketing, to make the image of the
company become much better in the public. CSR is believed to be an essential part of
the sustainable development of the community, which would motivate the growth
corporations. Banking industry, which is often regarded as the backbone of the
community, plays an important role when it comes to the sustainable development
and that is why bank is chosen as the subject for this study. Four commercial banks
with highest chartered capital in Vietnam including Agribank, BIDV, Vietcombank,
and Vietinbank are chosen. Qualitative method has been used to study the detailed
patterns of CSR activities of the banks and to find out the impact of the activities on
the performance of the banks.
In conclusion, the CSR activities do bring profit to the company.
However, the amount of profit can be different as some banks do CSR purely for the
sake of the society while some are doing it to maximise their earnings.