# Financial sector still gives more to charity than other industries

- Link: https://fundraising.co.uk/2013/06/26/financial-sector-still-gives-more-charity-other-industries/
- Published: 2013-06-26T00:16:29+01:00
- Author: Howard Lake

The financial sector still gives far more to charity than any other industry sector,
according to the Directory of Social Change's first [Company Giving Almanac](http://www.dsc.org.uk/Training/FinancialHealthCheck/CompanyGivingAlamanac).

Research for the Almanac examined a sample of over 400 companies which support UK
charities, and the DSC claims it "provides the most comprehensive picture of company
giving to charitable causes in the UK to date".

Despite the financial crisis, the **financial sector gives £245 million in cash**,
or £319 million including in-kind donations. The total provided by all companies
in the UK is in the region of** £700 to £800 million**, so financial institutions
provide nearly half of all corporate donations.

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Even within the financial sector, one bank dominates charitable giving: the part-
publicly owned Lloyds Banking Group provides 25% of all the giving from the financial
services sector.

## One per cent?

Despite the scale of their giving, **financial sector companies still give only 
0.7% of their pre-tax profits**, short of the 1% standard that was advocated as 
a benchmark some years ago.

Overall, **the companies analysed in the Almanac managed to give only 0.4% of their
company pre-tax profits to charity**, including in-kind donations, or 0.3% if you
consider only cash donations.

Author Dr Catherine Walker said: "The fallout from the financial crash continues,
with more scandals shredding the reputation and integrity of the financial sector.
Ironically, these same institutions give more to charity than corporate counterparts
in other industries.

"Clearly bankers and financiers need not just to re-establish moral values within
their business culture but to shout about it too. They could give more to social
causes, but other businesses sectors should look at the example set by the banks
and financial institutions in terms of charitable giving and take note."

The [Company Giving Almanac](http://www.dsc.org.uk/Training/FinancialHealthCheck/CompanyGivingAlamanac)
can be downloaded for free from the DSC.

Great Giving

The DSC is using the research findings to step up its campaign for [Great Giving](http://www.dsc.org.uk/greatgiving),
which aims to achieve better funding relationships between charities and their funders."
We think companies can give more, more companies can give, and companies can be 
better givers", says the DSC.

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