THE FINANCIAL sector is still donating more as a share of pre-tax profits to charities than many other companies, according to the Directory of Social Change,
Figures for 2013 show a 27 per cent fall in overall contributions since last year. Despite a fragile financial sector, banks gave 0.7 per cent of their profit before tax to charity, compared to only 0.4 per cent for companies overall.
There are also big imbalances in donations: 20 per cent of top givers made 90 per cent of all donations. Giving is also highly concentrated on London.
THE STATE OF CHARITABLE GIVING BY COMPANIES
Total contributions in £470m in cash and kind
Fall in total support 27% since 2012
Amount of pre-tax profit 0.7% donated by finance
Amount of pre-tax 0.4% dontated overall