Banks’ CSR expenditure slumps by Tk163cr in six months
Corporate Social Responsibility (CSR) expenditure in the Banking sector has dropped by Tk163 crore in the last six months of 2021 compared to the first half of the year with nine banks making no CSR spending during the period.
According to central bank data, from July to December banks spent a total of Tk297.79 crore, which was Tk461.42 crore in the first half of the year.
The highest spending – Tk132.23 crore – was recorded under disaster management category, while Tk74.12, the second most went to the health sector.
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The non-banking financial institutions spent Tk3.38 crore for CSR with highest Tk1.43 crore in the health sector. The second highest spending – Tk68 lakh – was for the cultural sector, followed by Tk62 lakh for education.
A total of nine banks – National Bank of Pakistan, Commercial Bank of Ceylon, Padma Bank, Madhumati Bank, Community Bank, Bengal Commercial Bank, Bangladesh Commerce Bank, Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank – made no CSR expenditure in the last six months.
Krishi Bank Managing Director Md Ismail Hossain said, "CSR expenditure is done from profit. Since Krishi Bank was not in profit, no expenditure was made under the criteria."
Sirajul Islam, executive director of Bangladesh Bank said that banks which failed to spend for CSR are not in profit.
"According to the central bank's circular, those who were eligible did their part," he added.
