Hong Kong's best bank for CSR 2022: Bank of China (Hong Kong)
Bank of China (Hong Kong)
Bank of China (Hong Kong)’s focus on corporate social responsibility dates back to 2010 when it set up an official CSR committee and put together a CSR policy. There has been no turning back since. The Hong Kong arm of one of China’s biggest banks has only strengthened its commitment to CSR over the years, and showcased its abilities during the pandemic.
The main areas of focus over the past 12 months were clear: combat the impact of Covid-19; make banking services convenient and accessible; philanthropy; and volunteering initiatives for charitable work.
Small and medium-sized enterprises, which account for 98% of all businesses in Hong Kong, were made a priority by BOCHK. During the fifth wave of Covid, which hit the city in early 2022, the bank upgraded some of its SME initiatives.
It earmarked HK$50 billion ($6.4 billion) in credit support for local SMEs and offered them fee reductions, waivers and rebates to cut their operating costs. It was also a participant in some of the government-backed programmes for SME loans and personal loans.
BOCHK also ensured that clients could access banking services from the comfort of their homes.