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Access Bank’s CSR donations dropped significantly by 60% to N1.61 billion in 2022, a sharp contrast from the N4.06 billion spent in the previous year. The newly restructured Holdco bank had spent N2.6 billion in 2020.
Zenith Bank incurred a sum of N1.69 billion as donations and charitable gifts in 2022, representing a 61% decrease when compared to N4.37 billion recorded in the previous year. The makes the banks the highest CSR spender in 2022, a position occupied by UBA in the previous year.
Thirteen publicly listed banks in Nigeria spent a sum of N7.2 billion on corporate social responsibility (CSR) in 2022, a notable 70% decrease compared to N23.9 billion incurred in the previous year.
Meanwhile, despite this downturn the likes of Zenith Bank, Access Bank, and UBA led the list of banks with the highest charity donations in the review year, surpassing the N1 billion mark.
CSR can also enhance the reputation, brand value and customer loyalty of businesses, as well as attract and retain talent.
Delve into the core takeaways from the post Zenith, Access leads as banks’ CSR donations fall by 70% to N7.2 billion in 2022 in the sections that follow.
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