Banks on CSR overdrive to boost brand value
KATHMANDU, Aug 28:
Banks and financial institutions looking for novel ways to establish their brand identity have intensified corporate social responsibility (CSR) activities with special focus on community development. At the same time, they are also using the opportunity to promote their products and services.
Standard Chartered Bank Nepal (SCBN) has long been putting focus on serving needy people as part of its CSR initiatives. Be it health, environment, sanitation or youth development program, the bank has extremely conscious to fulfill its social responsibility.
"No matter how much success we´ve achieved in our service delivery, there is still a plenty of scope to serve society," said Diwakar Poudel, head of Corporate Affairs at SCBN.
The bank has been implementing its CSR activities at three levels: Serving the clients, providing easy working environment for its employees, and eventually serving the needy people of society. It has identified six major pillars for its CSR activities -- contributing to real economy, access to finance for people living in rural sector of the country, responsible selling and marketing, tackling financial crimes, ensuring great place to work at, and community investment.
Officials of the bank said programs like ´Seeing is Believing´ and ´Living with HIV´ have made significant impact on people. Realizing this, the bank has been putting more emphasis on these programs.
Every year, the bank has been setting aside $20,000 to $30,000 to carry out these programs. It organizes walkathon once a year to collect fund for the program.
"This is an inclusive program. Our clients, staff and well-wishers spontaneously provide certain amount for CSR. We spend the amount to organize several programs throughout the year," added Poudel.
Laxmi Bank is not far behind either when it comes to investing in CSR activities that aim to maintain strong relationship between the bank and the community. In order to achieve this goal, the bank has been investing in various projects, including the promotion of heritage and arts, education and health initiatives, sports and support to less-privileged sections of society, among others.
Ajaya B Shah, head of Retail Financial Services (RFS) at Laxmi Bank, said the bank has been sponsoring a diverse range of programs that encourage a strong corporate culture of giving in the name of charity and responsibility to the community and the nation. The bank implements its CSR activities through Laxmi Cares - an organization run by the bank´s employees. Laxmi Cares has been implementing programs for environment preservation through tree plantation and installation of solar-powered street lights, providing education for the underprivileged children and tying up with artists to beautify walls in different parts of the country.
"We also continuously look to partner with causes which are dear to us. Help Jamuna Campaign was one such cause where we raised more than Rs 400,000 through out website to finance treatment of 11-year old Jamuna who was suffering from an extreme case of malnutrition," Shah says.
Laxmi Cares has also been working with partners like Three Star Club and National Sports Journalists Forum (NSJF) to implement solar electrification project in and around Patan Durbar Square.
Similarly, NIC Bank has also been implementing its CSR activities through NIC Foundation - a non-profit organization run by the bank´s employees.
"We are always looking to explore new areas where we can expand our selfless services," said Bhanu Dawadi, member of NIC Foundation. He also said the bank has been spending 0.5 percent of the total profit to conduct CSR activities through NIC Foundation. The bank has been spending in areas like education, health and food security. It has also been helping senior citizens living in old age homes. The foundation has been providing scholarships to 10 girls studying at Tilangatar School, Kathmandu, for four years.
"Our CSR activities have been creating good impact among the beneficiaries," said Dawadi, adding: "We are trying to divert the focus of our CSR activities to other needy areas."
Likewise, Nepal Investment Bank Limited (NIBL) has been investing a portion of its profits to promote national heritage and arts, education and health initiatives. It has also been running various programs through NGOs, supporting sporting events and helping less-privileged people of society.
Donation to UNHCR to support educational supplies for Bhutanese refugee students and Nepal Children´s Organization (NCO) for improving the lives of children and charity events to aid Pashupati Briddashram, country´s oldest old-age home, are some of the CSR initiatives of NIBL.
Apart from commercial banks, development banks as well as some finance companies have been running different programmes for social welfare of the community they work in.
Source: Republica
Banks and financial institutions looking for novel ways to establish their brand identity have intensified corporate social responsibility (CSR) activities with special focus on community development. At the same time, they are also using the opportunity to promote their products and services.
Standard Chartered Bank Nepal (SCBN) has long been putting focus on serving needy people as part of its CSR initiatives. Be it health, environment, sanitation or youth development program, the bank has extremely conscious to fulfill its social responsibility.
"No matter how much success we´ve achieved in our service delivery, there is still a plenty of scope to serve society," said Diwakar Poudel, head of Corporate Affairs at SCBN.
The bank has been implementing its CSR activities at three levels: Serving the clients, providing easy working environment for its employees, and eventually serving the needy people of society. It has identified six major pillars for its CSR activities -- contributing to real economy, access to finance for people living in rural sector of the country, responsible selling and marketing, tackling financial crimes, ensuring great place to work at, and community investment.
Officials of the bank said programs like ´Seeing is Believing´ and ´Living with HIV´ have made significant impact on people. Realizing this, the bank has been putting more emphasis on these programs.
Every year, the bank has been setting aside $20,000 to $30,000 to carry out these programs. It organizes walkathon once a year to collect fund for the program.
"This is an inclusive program. Our clients, staff and well-wishers spontaneously provide certain amount for CSR. We spend the amount to organize several programs throughout the year," added Poudel.
Laxmi Bank is not far behind either when it comes to investing in CSR activities that aim to maintain strong relationship between the bank and the community. In order to achieve this goal, the bank has been investing in various projects, including the promotion of heritage and arts, education and health initiatives, sports and support to less-privileged sections of society, among others.
Ajaya B Shah, head of Retail Financial Services (RFS) at Laxmi Bank, said the bank has been sponsoring a diverse range of programs that encourage a strong corporate culture of giving in the name of charity and responsibility to the community and the nation. The bank implements its CSR activities through Laxmi Cares - an organization run by the bank´s employees. Laxmi Cares has been implementing programs for environment preservation through tree plantation and installation of solar-powered street lights, providing education for the underprivileged children and tying up with artists to beautify walls in different parts of the country.
"We also continuously look to partner with causes which are dear to us. Help Jamuna Campaign was one such cause where we raised more than Rs 400,000 through out website to finance treatment of 11-year old Jamuna who was suffering from an extreme case of malnutrition," Shah says.
Laxmi Cares has also been working with partners like Three Star Club and National Sports Journalists Forum (NSJF) to implement solar electrification project in and around Patan Durbar Square.
Similarly, NIC Bank has also been implementing its CSR activities through NIC Foundation - a non-profit organization run by the bank´s employees.
"We are always looking to explore new areas where we can expand our selfless services," said Bhanu Dawadi, member of NIC Foundation. He also said the bank has been spending 0.5 percent of the total profit to conduct CSR activities through NIC Foundation. The bank has been spending in areas like education, health and food security. It has also been helping senior citizens living in old age homes. The foundation has been providing scholarships to 10 girls studying at Tilangatar School, Kathmandu, for four years.
"Our CSR activities have been creating good impact among the beneficiaries," said Dawadi, adding: "We are trying to divert the focus of our CSR activities to other needy areas."
Likewise, Nepal Investment Bank Limited (NIBL) has been investing a portion of its profits to promote national heritage and arts, education and health initiatives. It has also been running various programs through NGOs, supporting sporting events and helping less-privileged people of society.
Donation to UNHCR to support educational supplies for Bhutanese refugee students and Nepal Children´s Organization (NCO) for improving the lives of children and charity events to aid Pashupati Briddashram, country´s oldest old-age home, are some of the CSR initiatives of NIBL.
Apart from commercial banks, development banks as well as some finance companies have been running different programmes for social welfare of the community they work in.
Source: Republica
