DBS sets up $50 million foundation for corporate social responsibility efforts
DBS Bank has established a $50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With the launch of this DBS Foundation, the bank said it will "scale up its support for communities in Asia".
The foundation's objectives are expected to evolve over time in line with the region's changing needs, said DBS chief executive Piyush Gupta at a media briefing on Wednesday.
But in the foreseeable future, it intends to encourage the development of innovative social initiatives. These could include nurturing the social entrepreneurship sector.