Companies do not operate in a vacuum – BoV CEO

Bank of Valletta CEO Tonio Depasquale has reiterated the validity of corporate social responsibility and referring to the recent economic crisis where companies’ ethical behaviour was questioned, underlined the reality that “companies do not operate in a vacuum, but are microcosms within the communities in which they operate.”

Mr Depasquale was speaking as BoV published the fifth edition of its Corporate Social Responsibility report. The bank said the document highlights its actions in living up to its commitment to be a true socially responsible organisation, in its day-to-day operations as well as in the long-term strategic orientation of the institution.

BoV chairman Roderick Chalmers explained that for BoV, “being a corporate citizen is not an end in itself, but a frame of mind in the approach to doing business.”

The report highlights the Bank’s CSR efforts grouped under the primary stakeholders, starting with its shareholders, the workforce, its customer base, the environment as well as the community at large. In outlining the main action undertaken over the past financial year, the report bears testimony to the manner in which corporate social responsibility is found at the core of the bank’s decision-making processes, permeating all sectors of the organisation. The bank’s community relations programme also provides a structured approach to the actualisation of the Bank’s resolve to be an active player on the local sphere. A copy of the CSR report may be obtained from any BOV Branch and is also available for download from Bank of Valletta’s website www.bov.com