Black economic empowerment and the financial sector charter

Pillar 7: Corporate Social Investment (CSI)

Recognising that transformation cannot occur solely on commercial terms, CSI spending is mandated within the charter to reinforce its overall values and objectives. There are five broad categories of CSI spending defined in the charter and it is left to the discretion of the financial institution to determine which category(ies) to focus on.

The Community section provides a detailed explanation of how Standard Bank’s CSI spend is allocated and where the bank is making a difference through its CSI strategy.

CSI scorecard

    Audited Audited Audited Audited
  Target 2005 2004 score score
  2008 Actual Actual 2005 2004
Corporate Social Investment (CSI) % % %    
CSI spend as a % of prior year after-tax profit 0,50 0,70 0,66 3,00 3,00
Total score     3,00 3,00