Business Ethics for Banks

Abstract

The authors discuss in the essay the elements of business ethics and the corporate social responsibility of banks. The paper focuses on three areas: the morality of basic banking business and banks as institutions, the social responsibility of banks, and the business ethics of bankers as physical and legal entities. The cited areas are presented through a description of basic banking procedures, the rationale behind them and a reference to banking business ethics. Concluding remarks touch on the status of business ethics in these areas and offer a recommendation for improvement through a combination of regulation, mutual responsibility and knowledge of all stakeholders involved in the banks’ activities. The essay puts forth three brief case studies: a SWOT analysis of internet banking, the social responsibility of central banks and a comparison of the banks’ codices of ethics.