Management Intercultural (Dec 2017)

CORPORATE SOCIAL RESPONSIBILITY - THE ROMANIAN BANKING SECTOR PERSPECTIVE

  • Georgiana-Loredana FRECEA,
  • Constantin SCHIPOR

Journal volume & issue
Vol. XIX, no. 39
pp. 155 – 162

Abstract

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Although there has been made considerable progress in the corporate social responsibility (CSR) field in Romania, there are limited research papers presenting the CSR dynamics in the banking system. One of the main objectives of this paper is to highlight the CSR particularities for two of the most important banks operating on the local market: The Romanian Commercial Bank and BRD – Groupe Société Générale. This approach will outline the significant relationships in the CSR development, building on the dominant CSR themes and focusing on both similarities and differences in order to select the appropriate CSR practical framework. The results of this paper reveal a competitive context in the Romanian banking sector for the CSR initiatives, the influence of the marketing forces and particular CSR measures to rebuild banking trust. The CSR commitment of the banks address societal needs through the employee volunteering, as a new form of competitive advantage, becoming a strategic point in the reputational and financial performance.

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