Corporate Social Responsibility: Importance to the Progression of the Selected Universal Banks in Batangas City, Philippines

The practice of CSR increases brand recognition through positive publicity while also enabling societal development. It promotes sustainable relationship among banks to their partners and customers. Companies owe their profit not only to their top management and bottom ranks, but also to the people who help them continue to survive year after year. Therefore, this study is made to depict the importance of CSR in progression of selected universal banks in Batangas City, Philippines. By means of quantitative descriptive method the researcher was able to create a self-made questionnaire that holds 90 participants from various universal banks in Batangas City. It was concluded that stakeholders, government and globalization affects the CSR of their respective bank. Also, increase business competitiveness was the major advantage of CSR. All selected banks in Batangas City viewed the factors affecting CSR on the same level. Moreover, this study recommends that banks may engage themselves more too social and charitable activities that willsurely benefit the people around them and observe the application of CSR in the management system of banks to further improve their transaction among their clients and employees.

Keywords: Universal banks; Corporate Social Responsibility; Stakeholders; Government; Globalization