This paper scrutinizes the practices of corporate social responsibility (CSR) by commercial banks in Bangladesh and to assess the need to improve CSR by such organizations. The purpose of the study is to observe the framework of CSR areas and contribution to those areas by the Private Commercial Banks (PCB) and State Owned Banks (SOB) of Bangladesh. This study found that the contribution amount by commercial banks to CSR activities is very insignificant in proportion to their profit amount. This study suggests that a proper guideline by Government regarding CSR contribution, involvement of large corporation in CSR activities and mandating CSR disclosures in the annual report will fulfill the intended goals of the corporate organizations and also ensure a successful and sustainable development of the society.