DBS launches SGD 50 million Foundation to strengthen CSR efforts across Asia | 繁體

Hong Kong, 12 Feb 2014 - DBS Bank announced today that it has established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With the launch of DBS Foundation, the bank will scale up its support for communities in Asia, and make an even greater impact in addressing the region’s evolving social needs. While the foundation’s objectives are expected to evolve over time, in the foreseeable future, it intends to catalyse social innovation by encouraging the development of innovative social initiatives. These initiatives include nurturing the social entrepreneurship sector and providing relief and support to communities in need, including donations in times of natural disasters or crises.

The establishment of the foundation underlines DBS’ commitment of giving back to the community in a sustained manner over the long term. Since 2012, the bank has provided close to SGD 2 million in grants to 56 social enterprises in Asia. Of this, HKD 2 million was allocated to 12 social enterprises in Hong Kong, including iBakery, Fair Taste, Hong Kong Translingual Services, Hong Kong Rehabilitation Power, rwb330 and Splendid Fashion. The funds have enabled these social enterprises to set up new businesses or expand existing ones so as to provide employment opportunities to the disadvantaged or marginalised. The bank has been active in supporting social enterprises because they resolve social issues through financially viable solutions, enabling them to sustain their efforts over the long term. DBS also remains the only bank to offer preferential banking services to social enterprises in Singapore, Hong Kong, China, India, Indonesia and Taiwan.

“Over the past two decades, Asia’s rapid economic growth and development have led to an improvement of living standards across the region. However, a sizable proportion of Asia’s population has yet to benefit from the region’s rise to prosperity,” said DBS CEO Piyush Gupta. “At DBS, we are of the view that we share a symbiotic relationship with the societies and communities which we operate in. We believe in being a force for good. Apart from creating long-term economic value, we also seek to positively benefit the communities we are present in, and deliver social value. The DBS Foundation will enable us to be a further catalyst of change.”

“We are the leading supporter of the social entrepreneurship space in Hong Kong with the launch of the first-in-town DBS Social Enterprise Advancement Grant for operating social enterprises last year,” said Sebastian Paredes, CEO of DBS Hong Kong. “DBS Hong Kong is committed to becoming a catalyst of change and innovation to social entrepreneurship in Hong Kong. Since 2013, we have allocated over HKD 5 million to support innovation and youth projects that help promote and enhance the commercial viability and social impact of local social enterprises.”

Last year, the 12 grantees of the DBS Social Enterprise Advancement Grant 2013 developed a total of 80 new products or services, provided over 3,800 training hours and more than 150 job opportunities for the disadvantaged or marginalised, including the disabled, ex-mentally ill, unemployed and ethnic minorities. An encouraging 80% of the grantees recorded a double- digit growth in sales revenue year-on-year.

This year, the Grant is inviting proposals from operating social enterprises for the HKD 2 million granting fund until 14 March 2014. The Hong Kong Council of Social Service is the manager of the Grant.

To encourage young people to do more for the community, DBS recently partnered the National University of Singapore (NUS) to launch an inaugural competition that will identify new ventures that have the potential to generate scalable and sustainable social impact. Launched in September 2013, the DBS-NUS Social Venture Challenge Asia has attracted over 400 submissions from over 15 countries around the world. Of the participants, 70% are younger than 30 years old, and close to 40% are women. The bulk of ideas centre on the use of technology to create social impact. The winners – who will be made known in June 2014 – will receive funding to start their social ventures.

On the crisis relief front, DBS has, in recent years, donated towards relief efforts for the Sichuan and Padang earthquakes, as well as Cyclone Nargis. Just last year, the bank, its employees and customers donated over SGD 1 million to the Singapore Red Cross in the aftermath of Typhoon Haiyan in the Philippines.

The DBS Foundation is chaired by Ms Euleen Goh, who is a Board Member of DBS Group Holdings and the non-executive chairman of the Singapore International Foundation.

Other board members of the DBS Foundation include: Nihal Kaviratne CBE, Board Member of DBS Group Holdings, Danny Teoh, Board Member of DBS Group Holdings, Karen Ngui, Head of Group Strategic Marketing & Communications, DBS Bank, and Lim Chu Chong, Head of SME Banking, DBS Bank.

Photo captions

Photo 1: DBS Bank established a SGD 50 million foundation to strengthen its corporate social responsibility efforts across Asia. DBS CEO Piyush Gupta (on the left) said, “At DBS, we believe in being a force for good. The DBS Foundation will enable us to be a further catalyst of change.” The DBS Foundation is chaired by Ms Euleen Goh (right), who is a Board Member of DBS Group Holdings and the non-executive chairman of the Singapore International Foundation.

Photo 2: “We are the leading supporter of the social entrepreneurship space in Hong Kong with the launch of the first-in-town DBS Social Enterprise Advancement Grant for operating social enterprises last year,” said Sebastian Paredes, CEO of DBS Hong Kong. “DBS Hong Kong is committed to becoming a catalyst of change and innovation to social entrepreneurship in Hong Kong. Since 2013, we have allocated over HKD 5 million to support innovation and youth projects that help promote and enhance the commercial viability and social impact of local social enterprises.”

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About DBS
DBS - Living, Breathing Asia

DBS is a leading financial services group in Asia, with over 250 branches across 17 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for six consecutive years from 2009 to 2014.

DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 21,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com