Do Corporate Social Responsibility Activities of Ghanaian Banks Influence Corporate Clients' Patronage?

Abstract

Corporate social responsibility (CSR) has become a ubiquitous phenomenon in the affairs of firms, the general public, and governments all over the world in this new millennium. This paper examines corporate social investment (CSI) practices of several selected banks in Ghana to ascertain whether CSR activities lead to corporate clients? choice of, and sustainable relationships with banks. Using a qualitative survey approach, purposive sampling was employed to select five banks and five corporate firms listed in the Ghana Club 100 database. Semi-structured interviews were granted to senior relationship managers and corporate affairs managers of the banks and the corporate firms, respectively. Data analysis and interpretation was done using the interactive model of qualitative data analysis. Most banks investigated appreciated the relevance of CSR and were actively involved in such programmes. They approach CSR with a more altruistic, philanthropic posture. CSR activities of banks in Ghana positively impact their corporate clients' patronage.