“Last year was a seminal year that not only brought many societal issues to the fore, but also highlighted the valuable role that SEs play in the community. Having journeyed alongside many SEs since the early stages of their growth, it is heartening to see how far they have come and the increasing need for these purpose-driven businesses to be able to deliver impact at scale. Creating social impact is an important part of DBS’ sustainability agenda, and collectively all of us at the bank are committed to helping these businesses for impact to make an enduring difference,” added Ngui.To date, DBS has nurtured over 640 SEs in the region through a variety of means (including grant funding and other forms of capital support, bootcamps and masterclasses, and networking opportunities), and continues to work towards cultivating a stronger SE ecosystem. The bank also stepped up to boost support for the sector amid Covid-19’s emergence, collectively disbursing a combination of loans and grants totalling a record SGD 9 million in 2020. These include providing a working capital loan at preferential rates to ease cash flow needs, launching the inaugural DBS Foundation Business Transformation and Improvement (BTI) Grant to help SEs to retain jobs or transform their businesses, and funding early-stage start-ups through the DBS Foundation Social Impact Prize, amongst others.Mona Monika, Head of Group Strategic Marketing & Communications, PT Bank DBS Indonesia, said, “Since 2015, 12 Indonesian social entrepreneurs have successfully received DBS Foundation Grants with a total grant funding of around IDR6.5 billion. With the holding of the DBS Foundation SE Grant Programme again this year, we hope to support more social entrepreneurs in Indonesia."One of Indonesian social entrepreneurs who has shown strong growth is Kita Hebat which aims to contribute to creating a healthier life in the city of Medan. Through empowerment efforts to overcome unemployment, Kita Hebat focuses on processing food waste into environmentally friendly products, as well as empowering young women, adolescents with special needs, and low-income families while at the same time creating jobs. With its mission to continue to have a wider impact, Kita Hebat is committed to reinvesting or donating at least 50% of the net profit to achieve its social mission and empower beneficiaries and partners to become a professional workforce. DBS Foundation Grant continues to support the development of new products, as well as efforts to create inclusive jobs for marginalized groups. Sukendro Saputro, CEO of Kita Hebat, said, "We are committed to socializing the zero food waste movement to more people in Indonesia by providing training to several communities, schools, and home businesses. With the support of Bank DBS Indonesia, we feel more confident in running our programmes to recycle food waste in Medan, where we target to reduce waste by 120 tons by 2022, and launch environmentally friendly innovative products every two years, and distribute it to new areas that are not yet our reach. Funding provided by the DBS Foundation helps us to achieve our mission so far it has succeeded in touching many people to be empowered. We hope that Kita Hebat can continue to expand its positive impact on many people through the innovations it creates."
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 12 consecutive years from 2009 to 2020.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SG50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
