Hong Kong's best bank for CSR 2021: DBS Bank
Unlike past global crises when banks were in the spotlight, the health crisis caused by Covid-19 showed a somewhat different side of banking – one where they stepped up to support their staff, customers and the community, and more broadly, the economy during the pandemic.
In Hong Kong, DBS Bank stood out not only for its Covid-19 relief measures, but also for its continued actions in social and sustainable areas over the last year.
DBS, led by Hong Kong chief executive Sebastian Paredes, breaks down its corporate social responsibility approach into three areas: responsible banking, responsible business practices and creating social impact.
Under the first of these, DBS provides products and services that secure business for those who need it most. For instance, DBS worked with small and medium-sized enterprises last year through a financing guarantee scheme, offering a loan set-up and account-opening fee waiver, as well as a payment holiday.
The bank also partnered with local insurers to extend benefits to individuals who were diagnosed with Covid.
DBS was active in the greater Hong Kong community as well, launching a programme to support vulnerable groups, ensuring they had access to social workers and nurses, as well as to food and other necessities.