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Abstract
Corporate social responsibility by banks in Nigeria towards finding out the extent of adoption, the benefits to the banks especially the relationship of Corporate Social Responsibilities (CSR) to the profitability of the banks and the need for regulation on Corporate Social Responsibilities (CSR) for banks in Nigeria. This becomes necessary because the banking sector like other organizations both governmental and non-governmental has a major role to play in fast racking the well-being of the society. This work aims at studying the effect of Corporate Social Responsibilities of Banks on their Host Communities. A case of Godfrey Okoye University, Enugu. The study used qualitative data and multiple regression techniques in the analysis. The result of the descriptive analysis shows strong positive relationships between dependent and independent variables. The results of principal component analysis indicate that, there are two factors whose Eigenvalues exceed 1.0. Analysis of the correlation matrix indicates that independent variables has a significant positive relationship between bank corporate social responsibility and host communities (Godfrey Okoye University, Enugu) (r=0.203). The regression estimation result reveals that the variables- monetary donation (MD) and non-monetary donations (NMD) are statistically significant in explaining the level of host community's confidence in bank corporate social responsibility in Godfrey Okoye University, Enugu. The hypotheses testing shows that bank corporate social responsibility has helped in boosting host community's confidence on bank social responsibility in Godfrey Okoye University, Enugu. We therefore recommend that since CSR is generally seen to have positive relationship with financial performance (profitability) of banks, Bank management should incorporate in their policies the practice of CSR, which should be followed up with measures to ensure implementation.
Keywords: CSR, GO-University, Monetary Donation, Non-monetary Donation, Profitability
Introduction
Corporate social responsibility (CSR) can simply be defined as the act of taking care of one immediate community. It could be through provision of electricity, pipe bore water Building of good Roads and ensuring security in the society or Environment where you are situated. The ability of banks or firms to care for its immediate community is what we refer to as social responsibility it could be through monetary or non monetary donations to the community. Earlier before non, societal expectations from business organizations did not go beyond efficient resource allocations and profit...
