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CSR Initiatives
Report on Corporate Social Responsibility
Corporate Social Responsibility (CSR) refers to a form of corporate self-regulation integrated into a business model. This includes monetary donations and aid given to societies and impoverished communities of all over the country. Earlier CSR reports often focused on philanthropy as a driver of the same. That notion has been supplanted by a broad commitment of protecting and improving the lives of workers and the communities in which companies do business. Now, CSR reports typically address issues impacting virtually every area of operations: governance and ethics; worker hiring, opportunity and training; responsible purchasing; supply chain policies; energy & environmental impact. As the days progress, CSR is increasingly becoming an elemental part of a large number of companies around the world. It is becoming foremost, crucial, integrated and fundamental activities of Corporate bodies round the globe.

Corporate Social Responsibility (CSR) is a concept that frequently overlaps with similar approaches such as corporate conscience, corporate citizenship, social performance, sustainable responsible business and is also linked to the concept of Triple Bottom Line Reporting (TBL), which is used as a framework for measuring an organization's performance against economic, social and environmental parameters. CSR is titled to aid an organization's mission as well as a guide to what the company stands for and its will to contribute for achieving sustainability in the society. In general, CSR is commonly described by its promoters as aligning a company's activities with the social, economic and environmental expectations of its "stakeholders". The goal of CSR is to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere too.
CSR Activities in MBL
CSR is an intregral part of MBL culture. Through different projects we presume to contribute to the community, but our main focus is to help millions of underprivilleged children and poor people in Bangladesh. MBL has always been active in social responsible projects since the inception. Basically, we deem CSR as MBL's most static business model which is socially responsible and environmentally sustainable wherein, 'socially responsible' refers to the activities those are benefi cial for the society and 'environmentally sustainable' refers to our activities conducive to the environment. MBL is fully dedicated and motivated with this notion.

CSR is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as at local community and society at large. For instance, the CSR defi nition used by Business for Social Responsibility is: "Operating a business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business". The rationale for CSR has been articulated in a number of ways. In essence, it is about building sustainable businesses, which need healthy economies, markets and communities. The key drivers for CSR are:
Enlightened self-interest - creating a synergy of ethics, a cohesive society and a sustainable global economy where markets, labors and communities are able to function mutually befi tted well together.
Social investment - contributing to physical infrastructure and social capital is increasingly seen as a necessary part of doing business.
Transparency and trust -usually, business has low ratings of trust in general public perception. There is increasing expectation that companies will be more open, more accountable and be prepared to report publicly on their performance in social and environmental arenas.
Increased public expectations of business - globally companies are expected to do more than merely provide jobs and contribute to the economy through taxes and employment.
CSR plan of MBL is mainly about the awareness of actions in support of environmentally sustainable societal development. Different organizations have framed different defi nitions of CSR although there is considerable common ground between them. MBL consider CSR as how companies manage the business processes to produce an overall positive impact on society and environment. CSR is integrated into our operations, is part and parcel of our business and is also actively pursued at every level of the Bank. Our obligation to Corporate Social Responsibility ensures remaining true to our tradition of honesty; maintain a long-term point of view to make economically sound, environmentally responsible and socially supportive decisions. In line with this view, MBL has always been keen to deploy its resources not only towards maximizing economic profi tability, but also to offer better quality of life to both our internal and external stakeholder groups. MBL Corporate Social Responsibility, overseen by the MBL Foundation, has over the years aided us to ensure that our funding to many corporates all over the country been never void of fi ve key philanthropy pillars: community outreach, the arts, education, medical research, and the environment.
"Building a Sustainable Society"
A more common platform of CSR is 'Philanthropy'. MBL believes that CSR is indeed a fundamental part of the long-term business and sustainable growth and success, which plays an important role in promoting values both locally and internationally. There is no dilemma, through our day-to-day business operations; we are adding values to the society and the economy. Ultimate goal of CSR activities of MBL is "Building a Sustainable Society". In line with Bank's Vision and Mission Statement, CSR activities have been fully integrated into the business initiatives, which ultimately acts as a catalyst to build up an everlasting warm relationship with all the stakeholders and society people. The Bank promotes CSR activities, apart from its own fund, through Mercantile Bank Foundation, which acts as a helping hand to the distressed people of the country. Investment in CSR programs is always supported and encouraged by the Board of Directors. Through "CSR Desk", the Management reports to the Board and Regulatory Bodies on CSR activities and is responsible to implement a specifi c line of approving authority, control and monitoring for fi nancial support of such activities.

In the sprit of corporate citizenship, MBL is set to fulfi ll its social obligations through a broad range of versatile activities. Our CSR activities are focused to encourage our culture and uphold our tradition; extending a helping hand to the deprived and the destitute; victims of natural calamities and the disabled. Even we extend our hands of cordial co-operation to the meritorious poor students. A signifi cant contribution of BDT 49.4 million has been made by MBL under CSR in 2011, along with many other CSR initiatives in the offering, which demonstrates our commitment to the Community people as well as to the principles of a good "Corporate Citizen". Sector-wise contribution of the Mercantile Bank Limited under CSR activities in 2011 has been furnished beneath:
Sectors (BDT in Millions)
Education 11.80
Health 14.10
Disaster Management 9.20
Sports 1.90
Art & Culture 4.80
Others 7.60
Total 49.40
Mercantile Bank Foundation
MBL believes that, true success does not consist in profi t maximization only rather in doing something for the betterment of deprived part of the society. With this vision, MBL has established a foundation in the name and style, "Mercantile Bank Foundation" in 2000, just after a year of its inception, to work for the distressed and disabled people. Actually, the Foundation has been promoting a dialogue between the Bank and its community people. Since the inception, MBL Foundation took part in several social welfare activities.

MBL contributes 1% of its Operating Profi t or BDT 4.00 million, which one is maximum, to the Mercantile Bank Foundation every year, and from this amount, the Foundation cares the distressed and disabled people of the country. Since inception, the foundation has been awarding some noted intellectual personalities of the society for their outstanding performance and contribution in their respective fi elds. In 2011, Mercantile Bank Foundation (MBF) launched a new scholarship program, "MBF Education Scholarship". Under this program, MBL provided scholarship among the meritorious but poor students who have secured a considerable brilliant results in JSC, SSC and HSC in 2010 across the country despite oppressed by the inevitable fate accompanied by the poverty. Furthermore, the funding policy has focused on fi ve major areas: Community outreach, Health & Medical research, Education, Arts & Culture, development of Sports. MBL runs numerous philanthropy programs all over the country, and Mercantile Bank Foundation is forever destined to "do good" and even better in the days to come.
Objectives of Mercantile Bank Foundation
Mercantile Bank Foundation has been formed with the aim of achieving some underlying objectives including:
To take possible initiatives in increasing social well- being and alleviating poverty from the country.
To support the education by establishing new educational institutions, providing stipends/ scholarship to the poor but brilliant students.
To provide awards to the Scholars in eleven ‚ÄĘ signifi cant arenas for their outstanding contribution, as they uphold nation's pride brightly even accross the geographical boundaries. These arenas are:
- Bengali Language and Literature
- Education
- Culture
- Liberation War based Research
- Economy and Economy related Research
- Healthcare
- Science and Technology
- Industry and Commerce
- Journalism
- Agriculture based Research and Development
- Sports
To assist research activities on Bengali Literature through Bangla Academy.
To support the writers and publishers through purchasing their books and distributing these to different educational institutions on the occasion of national and historical days.
To assist the unemployed young to make them self-suffi cient.
To assist the rootless and distressed orphans and mentally retarded children through taking appropriate steps for their mental perfection and self-support.
To support in establishing hospitals, clinics, etc. for the improvement of the health sector, to donate one time fi nancial endowment to the poor artiste, literature-patron, for ailing fatal disease-affected poor patients, to support the poor father for arranging his daughter's marriage, and to help poor but bright students.
Mercantile Bank Award-2011
MBL always has encouraged the motive in mind to build an ever-lasting warm relationship with the customers, employees, fi nance providers, regulatory bodies and the community people at large. Keeping this motive in mind, the Bank always cares all of its stakeholders and the community people since its inception. Mercantile Bank Foundation has been established to act as a helping hand to the community people and Bank's commitment towards CSR. From foundation, MBL each year on its founding anniversary award some noted intellectual personalities of the society for their outstanding performance in their respective fields.

In continuation, during 2011, the Foundation of the Bank provides awards to 11 (eleven) Scholars for their outstanding contribution in eleven areas under the heading "Mercantile Bank Award-2011". The Award includes a Gold Medal (2 Vori), a Crest and one time fi nancial endowment worth BDT 1.00 lakh. Hon'ble Finance Minister of Government of Bangladesh, Abul Maal Abdul Muhith was the Chief Guest of the program, while Dr. Atiur Rahman, Hon'ble Governor of Bangladesh Bank was present as Special Guest. Md. Abdul Jali, M.P, Hon'ble Chairman of the Bank presided over the program. The Scholars who have been honored with Mercantile Bank Award-2011 are as under:
Mercantile Bank Award-2011
Arenas Scholars Rewarded
Bengali Language and Literature Dr. Mustafa Nur Ul Islam
Education Dr. Sirajul Islam Chowdhury
Culture Rafiqun Nabi
Liberation War based Research Shahriar Kabir
Economy and Economic Research Dr. Binayek Sen
Healthcare National Professor Brig. Dr. Abdul Malek
Science and Technology Dr. Maksudul Alam
Commerce and Industry Abdulla Hel Bari
Journalism Kamal Lohani
Sports Musa Ibrahim
Liberation War Lt. Col. (Rtd.) Kazi Nuruzzzaman (posthumous)
MBF Education Scholarship Program
Mercantile Bank, for the fi rst time in this year launched a Scholarship program in the name and style, "MBF Education Scholarship-2010" for the meritorious but poor students across the country under the category of JSC, SSC and HSC. MBF Education Scholarship program is an explicit expression of MBL's motive towards building the nation through extending hands of assistance to the future generation of the country.

In the light of corporate citizenship, Mercantile Bank is set to fulfi ll its social obligations through a broad range of activities. Among them, MBL presumed that, education is the foremost tool for social change. As CSR activities, MBL foundation has continued the major contribution in Education & Research purpose. In 2011, MBL, from its foundation provided scholarship among the numerous poor but meritorious students who have successfully passed (with minimum CGPA of 4.50) J.S.C/S.S.C/H.S.C in 2010 across the country and really in need of fi nancial assistance to continue their studies further. The tenure of the Scholarship is 1 (One) year. The details information of the scholarship is as under:
Category Money Awarded Per Month
J.S.C BDT 750
S.S.C BDT 1,000
H.S.C BDT 1,500
Division wise information of scholarship awardees:
Division Name Number of students
J.S.C. S.S.C. H.S.C. Total
Dhaka 26 29 25 80
Rajshahi 25 22 26 73
Rangpur 17 15 18 50
Chittagong 27 23 19 69
Sylhet 5 7 7 19
Khulna 18 21 20 59
Barisal 10 11 13 34
Total 128 128 128 384
Total amount of Disbursment (one Year):
Category Numer of Students Disbursement (BDT)
Per Student Total
J.S.C 128 9,000.00 1,152,000.00
S.S.C 128 12,000.00 1,536,000.00
H.S.C 128 18,000.00 2,304,000.00
MBL's Responsibilities to Society People
MBL Foundation receives requests for fi nancial aid from disabled people, disaster victims and various organizations including educational and professional institutions and charities. In response to these requests, the Foundation comes forward and provides fi nancial assistance to these people and institutions every now and then.

MBL as a legal corporate entity is fully aware of its responsibility about how its operational activities impact on its stakeholders, the economy, the society, its staff and last but not least, the environment. Conducting business in an ethical way, creating opportunities for business and economic growth, empowering people to fulfi ll their aspirations, ensuring protection of environment while fi nancing businesses along with supporting the distressed people of the society are the focal point of the CSR policy of MBL. In discharging the CSR responsibilities, the Bank contributes on the areas of education, health, employment, professional development, art & culture, disaster management and contribution to the national exchequer as well.
Community outreach: a helping hand for populations at-risk
MBL is fully committed to providing opportunities for the economically disadvantaged communities by fostering economic development and supporting local communities. The Bank strives to assist the victims of natural disaster by providing fi nancial help in rehabilitation and rescue purposes.
Distribution of Winter Clothes among the Poor People
MBL has distributed winter clothes among the distressed people of the cold affected areas of the country. About 36,750 pieces of new winter clothes like Blankets, Shawls, Quilts and Sweaters worth BDT 6.00 million has been distributed with the co-operation of the Local Peoples' Representatives in the different cold affected areas of the country.
MBL continues Financial Support to BDR Mutinyaffected Families
BDR mutiny in February, 2009 caused an irretrievable loss to the nation. MBL has widened its arms to share the sufferings of the revolt-affected families. In continuation, this year also MBL donated BDT 0.96 million to two BDR mutiny-affected families.
Health and Medical
Donation to Ivy Rahman Blood Bank
MBL has donated BDT 1 million for purchasing Hematology Analyzer for Cell Screening to Sheikh Hasina Institute of Transfusion Medicine and Ivy Rahman Blood bank, USTC Project. Hon'ble Chairman of the Bank Md. Abdul Jalil, M.P, handed over the cheque to National Professor, Nurul Islam and Professor Dr. Mujibur Rahman.
MBL Donated an Ambulance to Shahid Monsur Ali Medical College
MBL has donated an ambulance to Shahid Monsur Ali Medical College. Md. Abdul Jalil, M.P, Hon'ble Chairman of MBL, handed over the Ambulance to Dr. Jamal Uddin Chowdhury, Chairman of Shahid Monsur Ali Medical College.
Donation to Liver Foundation
MBL has donated BDT 1.11 million to Liver Foundation of Bangladesh for purchasing 2 (two) medical equipments. Md. Abdul Jalil, M.P, Hon'ble Chairman of MBL handed over the Cheque to Prof. Mohammad Ali, Secretary General of Liver Foundation of Bangladesh.
Education: teaching the young and spreading knowledge
Donation to Metropolitan University, Sylhet
MBL has donated BDT 1 million for development of the Library of Metropolitan University, Sylhet. A.K.M. Shahidul Haque, Managing Director & CEO of MBL handed over the donation cheque to Professor Abdul Aziz, Vice-Chancellor, Metropolitan University, Sylhet.
MBL Donated a Bus to NSTU
MBL has donated a 52 seated Bus to Noakhali Science and Tecnology University (NSTU). Md. Abdul Jalil, M.P, Hon'ble Chairman of MBL, handed over the Bus to A. K. M. Sayedul Haque Chowdhury, Vice Chancellor of NSTU.
The Arts: preserving cultural heritage and sponsoring the performing arts
As a recognized benefactor of culture, MBL takes some non-profi t initiatives every year. Cultural institutions have been donated to organize cultural events in different times. Moreover, the Bank supports the writers, musicians and other performers in their inventive and creative activities. In 2011, as earlier, MBL contributes to organize and celebrate different cultural and traditional festivals.
Celebration of Bangla New Year-1418
MBL has celebrated the Bangla New year-1418 as it has been doing since inception. All its offi ces were decorated to a colorful festive look. Customers in the Branches were invited to share the joy of festival and they were entertained with sweets as a traditional ritual. This kind of participation enhance the relationship and social bondage. Apart from that, MBL also donated to various cultural and educational institutes to celebrate the Bangla New Year-1418.
Traditional Games and Sports
MBL always encourages the development of games and sports of the country. In different times, the Bank has contributed to organize a variety of traditional games and sports. In 2011, the Bank contributes to different institutions/clubs to arrange games and sports such as,
Bangladesh Martial Arts Association for arranging WUKF Tournament;
Soccer Club, Feni; etc.
Professional Development
From the inception, each year MBL has been supporting the various Professional bodies. Some professional institutions that MBL donates in 2011 are:
Bangladesh Photo Journalists Forum;
The Dhaka University Alumni Association;
The Chittagong Press Club;
Bangladesh Paper Merchants Association;
Jahangirnagar University Club;
Association of Bankers Bangladesh.
Playing our part in the Economy
The Bank has contributed to the economy by generating employment of over 1668 full time employees. It also plays an imperative role in creating job opportunities by fi nancing to the productive sectors. The Bank recruits a number of fresh graduates and experienced offi cers every year. In 2011, a total of 113 fresh graduates and 43 experienced bankers have joined with MBL Family. In the intermediation process, the Bank mobilized resources of BDT 102,262.02 million from the surplus economic unit and deployed BDT 79,999.80 million in 2011 to defi cit group. Following table depicts the Bank's performance in terms of deposit mobilization, its deployments, international business, inward foreign remittance and employments as at December 31 of 2011 and 2010:
(BDT in million)
Contribution to Economy In 2011 In 2010
Mobilization of Deposit (BDT in million) 102,262.02 75,629.14
Deployment of Loans and Advances (BDT in million) 79,999.80 66,377.70
Export Business (BDT in million) 81,311.80 59,404.20
Import Business (BDT in million) 95,008.70 89,524.10
Inward Foreign Remittance (BDT in million) 7,150.00 5,108.10
Employment (in numbers) (BDT in million) 1,668 1,526
Contribution to the National Exchequer
The Bank plays its responsibility to the Government of Bangladesh paying corporate tax regularly. As per tax law, the bank deducts at source income tax, VAT, excise duty from various payments and services for ultimate credit to government exchequer. This year, 42.50% Tax is to be paid to the National Exchequer from its operation profi t. The Bank has made provision of BDT 1,250.00 million for corporate tax in 2011 against BDT 1,010.59 million in 2010.
(BDT in million)
Particulars In 2011 In 2010
Payments to National Exchequre as Corporate Tax 1,250.00 1,010.59
Care to Environment: Encouraging New thinking about Environmental Challenges
The core business model of MBL explicitly expresses its sustainability to words enviroment and unveils its ecofriendly motives i.e. not to harm or damage 'Green Life Belt' of 'Mother nature' which eventually ensures a pollution free breathing atmosphere for our future generations. Our aim is to minimize any harmful affects and consider the development and implementation of environmental standards to achieve this to be of great importance. MBL have established a separate unit to turn our Bank as a 'Green Bank'. A lot of measures have been adopted including green fi nancing, creating awareness among the employees for effi cient use of water, electricity and paper, giving preference to eco friendly while fi nancing and reuse of equipments. Green Banking is to provide innovative green products to support the activities that are not hazardous to environment and help to conserve the environment. MBL always try to manage the impact of operations and develop initiatives to improve its environment conducive footprint.
Involving Employees in the CSR approach
As a "Corporate Citizen", Mercantile Bank Limited is striving to play its responsibility in this regard. The involvement of employees in the CSR approach is one of the most effective ways to CSR awareness. In the new CSR strategy, we have developed activities to keep employees up-to-date with our CSR goals and principles. We believe that they will put their knowledge to both at work place and in their private lives.
Raising CSR awareness among the Group's employees
MBL arranged a full day workshop program to raise the awareness of its employees regarding key CSR issues and its policies in this area. To build on this training, environmental awareness-raising actions have been set up locally.
Informing and encouraging dialogue
MBL's employees are also kept updated about day-today CSR events, and are invited to exchange on new issues and the Group's actions in this area.
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