Malaysia's best bank for CSR 2023: Public Bank
Public Bank has a wide reach when it comes to corporate social responsibility. It has initiatives focused on small and medium-sized enterprises, on greening the economy, on Covid-19 and disaster relief, on community well-being and development, and on supporting employees.
Public Bank was proactive in supporting customers recovering after the pandemic. By the end of 2022, the group had offered over RM9 billion ($2 billion) in revised repayment, restructuring and rescheduling options to more than 20,000 individuals who had either lost their jobs or suffered pay cuts. It also offered loan payment moratoria to more than 8,100 customers impacted by flash floods in the country.
For SMEs, Public Bank unveiled two schemes in 2022: a business recapitalization facility and a low-carbon transition facility. The former focuses on offering debt and equity hybrid solutions to businesses to lower their debt profile, and the latter encourages SMEs to adopt sustainable and low-carbon practices at preferential rates.
For the community, Public Bank has actively participated in several initiatives. It sponsored a charity golf fundraising programme, a charity dinner, and made RM61,000 in charitable donations during festive seasons, including to orphanages, childcare centres and youth programmes.