Bodnar Olena, PhD (Economics), Assistant Professor of the Department of Finance, Banking and Insurance, Mykolayiv National Agrarian University, Mykolayiv, Ukraine

ORCID ID: 0000-0002-0152-4290
e-mail: bodnarolena1606@gmail.com

Saliuk Svitlana, Applicant of Higher Education, Accounting and Finanсe Faculty, Mykolayiv National Agrarian University, Ukraine

ORCID ID: 0000-0003-4544-699X
e-mail: svetasaluk227@gmail.com

Formation of Corporate Social Responsibility of the Banking Sector During the Рandemic

Abstract. Introduction. In the context of the pandemic and as a result of the financial crisis, an increasing number of people began to urgently demand support from both the state and companies engaged in socially responsible activities. Enterprises, realizing their responsibility to the population, began to create new areas of activity related to corporate social responsibility in order to smooth out the negative impact of the pandemic on people’s lives. Unfortunately, the increase in the level of corporate social responsibility in the context of the pandemic was uneven.

Purpose. The main purpose of the study is to examines the essence of Corporate Social Responsibility and its development in the banking sector of Ukraine during the pandemic.

Results. The directions of corporate social responsibility of the banking sector of Ukraine is carried out is analyzed. The levels of responsibility in terms of banks attitude to the implementation of Corporate Social Responsibility directions are presented on the basis of Carroll’s model. Integration of Corporate Social Responsibility initiatives into the activities of banking institutions is defined. The role of the National Bank of Ukraine and other financial market regulators in overcoming the consequences of the financial crisis is defined.

Conclusions. In these realities, the manifestation of corporate social responsibility on the part of banking institutions, firstly, showed the readiness or unwillingness of banks to adapt to important conditions, and secondly, the effectiveness and relevance of their Corporate Social Responsibility areas. The Corporate Social Responsibility Institute plays an important role in the corporate culture of banking institutions in the current situation, as it is this system that has shown the role of companies responsibility, both to stakeholders and to the entire community as a whole.

Keywords: corporate social responsibility; banking sector; banking system; banks; banking institutions; pandemic.

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