Corporate Social Responsibility
For some years MCB dedicated an amount equivalent to 1% of pre-tax profits to Corporate Social Responsibility (CSR) activities, a ratio that it increased in 2008 to 2% of book profit derived during the preceding year. In April 2008 the bank launched an ‘Appel à Projets’, inviting non-governmental organisations (NGOs) and individuals supported by NGOs to submit projects for consideration for funding. During the fiscal year ending June 2009, the bank spent Rs 30 million on 79 projects. Then in September 2010 MCB formally launched the MCB Forward Foundation, which would develop and support sustainable initiatives for the social, environmental and economic well-being of the community.
Read more about this topic: Mauritius Commercial Bank
Famous quotes containing the words corporate and/or social:
““It’s hard enough to adjust [to the lack of control] in the beginning,” says a corporate vice president and single mother. “But then you realize that everything keeps changing, so you never regain control. I was just learning to take care of the belly-button stump, when it fell off. I had just learned to make formula really efficiently, when Sarah stopped using it.””
—Anne C. Weisberg (20th century)
“The type of fig leaf which each culture employs to cover its social taboos offers a twofold description of its morality. It reveals that certain unacknowledged behavior exists and it suggests the form that such behavior takes.”
—Freda Adler (b. 1934)