Thailand's best bank for CSR 2018: Bank of Ayudhya
Bank of Ayudhya
Bank of Ayudhya, known locally as Krungsri, is widely viewed by analysts as the bank to watch in Thailand over the next five years. Since its acquisition by Bank of Tokyo-Mitsubishi in 2013, Bank of Ayudhya, under CEO Noriaki Goto, has built up an enviable reputation for the quality of its international management team, its expertise in consumer finance and product development and its new focus on SMEs.
But that is not all. Bank of Ayudhya is also widely seen as the bank that gives back most to society. At the heart of its corporate social responsibility activities is a focus on bringing financial literacy to the poor and supporting local communities.
In 2017, the bank established the Krungsri foundation to provide support for environmental and social causes, including natural disaster relief and education. And in January this year, it established the environmental, social and governance division to ensure that services are delivered to customers in a responsible and sustainable way.
Bank of Ayudhya has also supported micro- and nano-finance business development both in Thailand and in neighbouring countries. The Bangkok lender’s flagship financial literacy project has been running for three years, benefitting more than 14,000 students from 268 schools in Thailand and Laos. The bank contributed more than 180,000 volunteer hours to educating young people on personal finance management and basic savings skills.
Last but not least, in early 2018, Bank of Ayudhya inaugurated its new green 35-storey building, recognized as one of Thailand’s leading environmentally friendly buildings and a worthy symbol of the bank’s ambition to promote a sustainable future.