Banks' CSR spending drops in education; rises in health, climate
Seven banks didn’t make any CSR expenditure in 2024
Banks in Bangladesh scaled back their Corporate Social Responsibility (CSR) expenditure in the education sector during the latter half of 2024, while increasing their spending in health and climate-related areas, according to a recent report by the Bangladesh Bank.
The report reveals that total CSR spending by banks in 2024 stood at Tk616 crore. Of this, Tk307 crore was spent between July and December, slightly down from Tk309 crore in the first six months of the year – marking a decrease of Tk2.43 crore.
A sector-wise breakdown of the data shows a significant dip in education-related CSR spending. In the July-December period, banks spent Tk44 crore on education, compared to Tk64 crore in the first half of the year.
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Conversely, CSR spending on health saw a notable rise. Banks spent Tk83 crore on healthcare in the second half of 2024, up from Tk72 crore in the previous six months.
The most striking growth was observed in the environment and climate change mitigation and adaptation sector. CSR expenditure in this category jumped to Tk15 crore in the second half of the year from just Tk7.34 crore in the first half – more than doubling over the six-month period.
Spending in other sectors, however, dipped slightly. During July–December, banks spent Tk164 crore in these areas, down from Tk166 crore in the January-June period.
The report also notes that seven banks – BASIC Bank, Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank, Bangladesh Commerce Bank, Citizens Bank, National Bank, and Padma Bank – did not make any CSR expenditure throughout the year.
