Incorporating CSR and stakeholder management into corporate strategy: a case study of the CAN experience 2002-2006

Introduction
In Spain, savings banks are private financial institutions organized as foundations[1]. The
main identifying features of their mission are concern for saving; focus on the poorer classes,
with an extensive network of branches; concentration in a geographical area; and allocation
of a significant part of profits to social and charity projects (Azofra and Santamarı´a, 2004).
The second and fourth features highlight the savings banks’ social focus. To some extent,
savings banks can be considered forerunners of the CSR movement.
By virtue of the fourth feature, savings banks allocate a large part of their profits to charity
and cultural, environmental or educational programs through their social and charitable
action (SCA).