A report from the Centre for Media Analysis indicates that GCB Bank undertook the highest Corporate Social Responsibility (CSR) activities in the second quarter of 2017 ranking first on the CMA-Ghanaian Banking Sector CSR Coverage Index.
Out of the 26 CSR activities recorded by 14 banks in the sector within the second quarter, GCB recorded 4 CSR initiatives in the area of health, donation and education representing 15 per cent.
Among the activities the bank undertook included its donation to the Tamale Central Hospital, Eye screening exercise organized for residents of Tamale, Tolon and Naton and also a support for market women which amounted to about Two Hundred and Eighty Thousand Ghana Cedis.
Access Bank, Royal Bank and Unibank recorded 3 (11%) CSR activities each emerging second on the CMA-Banking Sector CSR Coverage Index.
However, uniBank, made the highest donation or CSR contribution in the month. It undertook 3 CSR initiatives contributing an amount of GH¢1,775,000 to support FOCOS Orthopaedic Hospital, NADMO and Muslim Communities during the Eid- Fitr celebration.
Analysts at Centre for Media Analysis, say a corporate`s philanthropic and community development initiatives enhance its corporate image, visibility and external prestige conducting the public to rank it highly. This promotes brand-health and enables the corporate to leverage the competitive market.
Leader of the research team, Amoah Kwasi Boakye said the impact of CSR activities on an organization cannot be underestimated especially in a competitive market like the Ghanaian Banking Sector.
“Giving back to the society makes the public feel part of the company, it even draws the attention of prospective clients to the products and services of the company. CSR initiatives helps in brand promotion as a result of the positive perception the shareholders, stakeholders and the entire public holds about the organisation.
He lauded GCB and the other banks for the continue support to the society and encouraged them to undertake more CSR initiatives to enable them promote their brand and leverage the competitive Ghanaian banking sector.
Story: Business Desk