Transparency and reputation of Spanish banks: construction through the Principles of Responsible Banking (PRB)

Abstract

This paper analyses how the 10 Spanish banks adhering to the Principles of Responsible Banking communicate their actions in their annual reports, thereby revealing their level of transparency and its correlation with their reputation. A qualitative methodology has been used, specifically content analysis, using the quality criteria for CSR-related information as identified by ISO 26000. The results show that there are differences between banks and none of them achieve compliance with all ISO 26000 variables; however, most banks demonstrate a moderate level of compliance. The criteria worst addressed by the banks are providing 'balanced' and 'accessible' information. Furthermore, the study reveals that the validity of the information provided, in terms of its relevance to stakeholders, is low. In terms of the banks' reputation, it is observed that the implementation of the PRB has not significantly contributed to building trust and reputation among their stakeholders, but it has helped their positive development.