Malaysia's best bank for CSR 2021: AmBank
AmBank’s chief executive, Sulaiman Mohd Tahir, and his team didn’t need any nudges from the Malaysian government as 2020 descended into economic chaos. AmBank was already way ahead of pleas from the government to extend loan payment schedules: it offered creative restructuring plans and generous repayment assistance packages.
The relief that AmBank provided to individual customers and SMEs hemmed in by pandemic-related lockdowns played a stabilizing role in the broader economy.
As of the end of March 2021, the bank had extended more than $3.6 billion in repayment assistance for loans and financing for all customer segments, approving close to 100% of all applications. It has extended the gesture until the end of calendar year 2021, with a pledge to prolong the support if needed.
But it is AmBank’s broader community outreach efforts that win our award for corporate social responsibility. Case in point: AmBank teaming up with non-government organizations such as The Lost Food Project to help eliminate hunger among the underprivileged community because of the pandemic.
Such efforts fall under the AmKasih Programme, the bank’s new CSR platform. It focuses on three sustainability themes: responsible banking; conscious self-conduct; and positive societal impact.