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Paper Title
Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking.
Authors
Sadhvi Pandey , Kavita Verma , Prof. Shabi Raza , Prof.Archana Singh
Keywords
Financial Performance, ESG, Sustainable Banking, TCCM framework.
Abstract
Banks play a crucial role in a country's development, and with the current global emphasis on sustainability, this paper evaluates the relationship between Environmental, Social, and Governance (ESG) practices and financial performance of banks. This study uses a systematic review of 40 research articles published from 2019 to 2025, utilizing the TCCM framework along with the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) protocol. The search terms used to screen the articles for inclusion were “esg”, “profitability”, “bank”, "financial performance ", “banking”. Result reveals that most of studies were based on shareholder theory, in order to further understand the FP variation, the study also discovered that a large number of publications recommended investigating the indirect influence or control variables in the ESG–FP association. Therefore, the findings highlight a need for additional research to investigate indirect links in order to better understand the dynamics of ESG and FP by evaluating potential moderators or mediators, especially bank risk-taking. The results may interest academic researchers, regulators and policymakers and would support stakeholders and decision-makers who wish to discover Relationship between ESG practices and financial performance in banks. This study contributes to previous literature by studying the relationship of ESG practices on the banks’ financial performance by examining the TCCM framework along with the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) protocol. Indeed, the originality of this research paper is justified by the scarcity of literature review using TCCM Framework and, to the best of the authors’ knowledge, constitutes one of the first attempts to examine this relationship.
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IJRTI — journal style
"Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking.", IJRTI - International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2456-3315, Vol.10, Issue 12, page no.a449-a467, December-2025, Available :https://ijrti.org/papers/IJRTI2512056.pdf
APA — 7th edition
Pandey, S., Verma, K., Raza, S., & Singh, P. A. (2025). Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking. International Journal for Research Trends and Innovation, 10(12), a449-a467. https://ijrti.org/viewpaperforall.php?paper=IJRTI2512056
MLA — 9th edition
Pandey, Sadhvi, et al. "Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking." International Journal for Research Trends and Innovation, vol. 10, no. 12, 2025, pp. a449-a467, https://ijrti.org/viewpaperforall.php?paper=IJRTI2512056.
Chicago — 17th, bibliography
Pandey, Sadhvi, et al. "Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking." International Journal for Research Trends and Innovation 10, no. 12 (2025): a449-a467. https://ijrti.org/viewpaperforall.php?paper=IJRTI2512056.
Harvard — author–date
Pandey, S. et al. (2025) 'Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking', International Journal for Research Trends and Innovation, 10(12), pp. a449-a467. Available at: https://ijrti.org/viewpaperforall.php?paper=IJRTI2512056
IEEE — numbered reference
S. Pandey, K. Verma, S. Raza and P. A. Singh, "Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking," IJRTI, vol. 10, no. 12, pp. a449-a467, Dec. 2025.
Vancouver — biomedical
Pandey S, Verma K, Raza S, Singh PA. Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking. IJRTI. 2025 Dec;10(12):a449-a467.
AMA — 11th edition
Pandey S, Verma K, Raza S, Singh PA. Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking. IJRTI. 2025;10(12):a449-a467. Accessed at https://ijrti.org/viewpaperforall.php?paper=IJRTI2512056
BibTeX — Zotero, Mendeley, LaTeX
@article{IJRTI2512056,
author = {Sadhvi Pandey and Kavita Verma and Shabi Raza and Prof.Archana Singh},
title = {Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking.},
journal = {International Journal for Research Trends and Innovation},
volume = {10},
number = {12},
pages = {a449-a467},
year = {2025},
month = {December},
issn = {2456-3315},
url = {https://ijrti.org/viewpaperforall.php?paper=IJRTI2512056}
}
RIS — EndNote, RefWorks
TY - JOUR
AU - Pandey, Sadhvi
AU - Verma, Kavita
AU - Raza, Shabi
AU - Singh, Prof.Archana
TI - Banking on Sustainability: A Systematic Review Synthesizing the ESG-Financial Performance Relationship in Banking.
T2 - International Journal for Research Trends and Innovation
JA - IJRTI
VL - 10
IS - 12
PY - 2025
SN - 2456-3315
UR - https://ijrti.org/viewpaperforall.php?paper=IJRTI2512056
SP - a449-a467
ER -
Issue
Volume 10 Issue 12,
December-2025
Pages : a449-a467
Other Publication Details
Paper Reg. ID
IJRTI_208393
Published Paper ID
IJRTI2512056
Downloads
205,610
Research Area
Commerce
Country
Lucknow, UTTAR PRADESH, India
Published
December 2025
Published Paper PDF
https://ijrti.org/papers/IJRTI2512056.pdf
Published Paper URL
https://ijrti.org/viewpaperforall.php?paper=IJRTI2512056
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International Journal for Research Trends and Innovation
Published by IJRTI (JW Publication)
2456-3315
ISSN
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Declarations
Funding
No external funding was received for this study.
Conflict of Interest
The authors declare that they have no conflict of interest.
Acknowledgements
The authors would like to thank the reviewers and the editorial board of International Journal for Research Trends and Innovation for their careful reading and constructive comments, and all colleagues who supported the preparation of this manuscript.
