, April 16 -- Banks' spending on corporate social responsibility (CSR) initiatives dropped by 33 percent in 2024 compared to the previous year, following a loan disbursement scam that shook the sector.

According to Bangladesh Bank's latest data, banks spent Tk 615.96 crore on CSR in 2024, which is 33 percent or Tk 308 crore less than the previous year.

In 2023, they spent Tk 924.32 crore in this sector. Prior to that, in 2022, the expenditure was Tk 1,129 crore. Compared to 2022, expenditure in 2024 decreased by Tk 513 crore or more than 45 percent.

According to regulations, the country's banks spend a portion of their profits on CSR activities. There is also a policy in place to ensure that CSR funds are used in the country's sustaina...