Japan's best bank for CSR 2023: SMBC
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation has backed initiatives to support the elderly and the young and to improve education among those who struggle to access it in the country. It is named best bank for corporate social responsibility in Japan this year.
In education, the bank collaborates with domestic business Kumon to provide children in care with home-style education in financial literacy. The programme is staffed by volunteers, while the bank and its partner provide tablets for children to access resources.
It has been running this financial literacy programme since 2020; based on current projections, it expects to support 1.5 million people by the time the programme is a decade old.
The bank also supports individuals in later life. Through its SMBC Elder Program it appoints individuals to support older customers in accessing banking services in addition to non-financial resources provided through the bank’s partners. It also provides digital support to customers through its family network service to facilitate caring for elderly family members remotely through a dedicated app.