STAKEHOLDER PERCEPTIONS OF CORPORATE SOCIAL RESPONSIBILITY CAMPAIGNS AS TOOL FOR ENHANCING PUBLIC RELATIONS IN MONEY DEPOSIT BANKS IN NIGERIA

Abstract

This study looked at stakeholder perceptions of social responsibility campaigns of Zenith and Access banks with the view to evaluate how these campaigns enhance public relations within these banks. The study examined three objectives among which were to assess stakeholder perceptions towards corporate social responsibility CSR initiatives undertaken by money deposit banks MDBs in Nigeria. It also sought to examine the impact of CSR campaigns on key public relations PR metrics, including organizational reputation, trust and loyalty among stakeholders. The scope of the study covered the staff and customers of Zenith and Access bank branches in Rivers State. Two theories were used including stakeholder theory and resource-based view theory. Survey served as the design for the study and the questionnaire and interview guide were the instruments for data collection. The study found from the data that despite the effort made by banks, in its social responsibility campaigns, customers barely feel the impact of those campaigns. This is because banks carry out mainly financial inclusive services which can be easily attributed as their regular duty and not a type of corporate social responsibility. Also, customer interest and the needs of the host communities are the factors that determines the type of public social responsibility campaign undertaken by money deposit banks in Nigeria. Furthermore, stakeholder particularly Zenith Bank and Access bank customers see corporate social responsibility as a mandatory task that has not been performed fully by money deposit banks in Rivers State. It was therefore recommended that Stakeholder engagement should be integrated into CSR campaign planning and banks should allocate sufficient resources for CSR initiatives.