Directions for Improvement of Corporate Social Responsibility Management in Banks

Introduction. Corporate social responsibility (CSR) is a prerequisite for the successful operation of any enterprise or institution. Banking institutions of Russia are actively implementing CSR activities. A review of publications on the issue of CSR has been carried out. However, an important problem is the lack of comprehensive management of this type of activity due to the fact that no special CSR strategy has been developed to date. The conducted research was aimed at the elaboration of directions for improving CSR management in Russia’s Bank PSB PJSC in the new regions of the country. In accordance with the aim of the study, the following tasks were accomplished: analysis of the CSR activities of Bank PSB PJSC on the territory of the Donetsk People's Republic; clarification of possible types, forms and areas of the bank's corporate responsibility in the new regions; development of directions for improving CSR management of the banking institution. Results. The article characterizes the advantages and disadvantages of CSR strategy formation in a banking institution along with possible internal and external directions of the bank's activities in this area. The author proposes a structural and logical scheme of the content of the bank's CSR development strategy, which characterizes its goals, objectives, target groups, etc.; an algorithm of activities to develop CSR strategies of the bank is also proposed. In order to improve CSR management in Russian banks, the following activities are proposed for implementation: to establish the place of CSR in the bank management system and develop the CSR strategy of the bank. Conclusion. Further development of CSR management should be oriented towards the use of the integrated and process approache to the strategy elaboration and determination of responsible persons who will be in charge of the strategy development and implementation.