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DBS Bank offers free service to social enterprises
By Hu Xiaocen |
November 20, 2012, Tuesday
|
Online Edition
Online Edition
DBS Bank China, a subsidiary of Singapore-based DBS Bank, launched free banking services today for social enterprises. It is the first among banks to do so in the country.
Social enterprises are organizations that apply commercial strategies to improve the well-being of people and the environment.
The lender said more than 80 percent of social enterprises in Singapore are using its banking services at the moment. And China is the first market outside of Singapore where it has launched its social enterprise banking services.
"Relying on our many years of experience supporting small and medium enterprises across Asia, DBS hopes to contribute to the development of social enterprises in China," Neil Ge, chief executive officer of DBS China, said today in Shanghai.
The lender launched a charity program last month that provides grants to four social enterprises -- Beijing Fuping Development Institute, Shanghai Puki Deaf Coordination Agency, World of Art Brut Culture, and Dialogue in the Dark China.
Under the program, more than 2,300 underprivileged people in Beijing, Shanghai, Shenzhen and Chengdu will receive vocational training for two years.
Social enterprises are organizations that apply commercial strategies to improve the well-being of people and the environment.
The lender said more than 80 percent of social enterprises in Singapore are using its banking services at the moment. And China is the first market outside of Singapore where it has launched its social enterprise banking services.
"Relying on our many years of experience supporting small and medium enterprises across Asia, DBS hopes to contribute to the development of social enterprises in China," Neil Ge, chief executive officer of DBS China, said today in Shanghai.
The lender launched a charity program last month that provides grants to four social enterprises -- Beijing Fuping Development Institute, Shanghai Puki Deaf Coordination Agency, World of Art Brut Culture, and Dialogue in the Dark China.
Under the program, more than 2,300 underprivileged people in Beijing, Shanghai, Shenzhen and Chengdu will receive vocational training for two years.
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