The global banking & payments industry experienced a 37% drop in company filings mentions of social responsibility in Q3 2022 compared with the previous quarter, with the highest share accounted for by IndusInd Bank with 7% year-on-year increase, according to GlobalData’s analysis of over 985 banking & payments company filings.
Notably, social responsibility was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of advanced materials and quantum computing, according to GlobalData’s whitepaper on Social Responsibility in Banking & Payments – Filings Trends in Q3 2022.
Of the 50 leading companies in the banking & payments industry, IndusInd Bank had the greatest increase in references for social responsibility in Q3 2022, compared with the previous quarter. GlobalData identified 251 social responsibility-related sentences in the company's filings - 26% of all sentences - and an increase of 100% in Q3 2022 compared with Q2 2022. Commonwealth Bank of Australia’s mentions of social responsibility rose by 100% to 80 and Bajaj Finance’s by 7.94% to 68.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for social responsibility in Q3 2022 was 95.