How socially sustainable multinational banks promote financial inclusion in developing countries

Fernando Ubeda, Alvaro Mendez, Francisco Javier Forcadell and Belén López

Research in International Business and Finance, 2024, vol. 71, issue C

Abstract: This paper investigates the impact of multinational banks (MNBs) implementing socially sustainable practices on financial inclusion in developing countries. We argue that the specific characteristics of the MNBs, when combined with socially sustainable practices, contribute to building trust and reducing risks in developing countries where they operate. This positive externality causes improvements for the underprivileged in three dimensions of financial inclusion: their demand for bank accounts, their propensity to save, and their access to credit. A sample of 152 multinational banks in 32 developing countries and 37,952 individuals proves the positive effect of sustainable practices.

Keywords: ESG criteria; Sustainable banking; Financial inclusion; Multinational banks; SDGs, social sustainability (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:71:y:2024:i:c:s0275531924002630

DOI: 10.1016/j.ribaf.2024.102470

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