CSR Programs of Financial Institutions

Abstract

This chapter explores the contrary views on CSR activities of financial institutions by drawing attention to the purported chameleon behavior of banks in promoting various CSR programs, adopting equator principles in lending activity, conducting financial education campaigns to increase the degree of financial inclusion of the population versus the claim about deceptive promotional techniques, practicing abusive contractual clauses in order to maximize profits at the expense of consumers. The chapter is distinguished by the critical attitude towards the behavior of FTNCs which knows significant differences depending on the area of manifestation – in the country of origin or in the host countries, developing countries. In addition, these entities take advantage of international instruments set up such as the equator principles or non-financial reporting standards to create a positive image among stakeholders, although their behavior is not socially responsible.