CORPORATE SOCIAL RESPONSIBILITIES (CSR) AND FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

This study investigated the effect of Corporate Social Responsibility on the financial performance of listed Deposit Money Banks (DMBs) in Nigeria. The research focused on three key CSR dimensions: Corporate Donations (CD), Training Costs (TC), and Remediation Costs (RC), while Firm Size (FSZ) is included as a control variable. Guided by Stakeholder Theory and employing a quantitative research design, the study utilized secondary data drawn from the audited annual reports and financial statements of 13 listed DMBs between 2019 and 2024. Financial performance was measured using Return on Assets (ROA), and regression analysis was conducted using EViews software. The findings revealed that Corporate Donations and Firm Size have significant positive effects on financial performance, while Remediation Costs show a marginally significant positive influence. However, Training Costs did not demonstrate a statistically significant effect. These results suggest that CSR initiatives that are outward-facing, such as donations and compliance-related expenditures, are more likely to generate immediate financial returns, especially for larger banks. The study concluded that effective CSR strategy could serve as a catalyst for profitability and recommends that banks align their CSR investments with stakeholder expectations and institutional capabilities.