SINGAPORE: DBS won a new award on Thursday (Dec 5) in recognition of its efforts to nurture local social enterprises.
The financial services group was named the inaugural winner of the Social Enterprise Champion of the Year (Corporation) award at the President's Challenge Social Enterprise Awards 2019.
The awards, which are conferred biennially by the President's Office, honour outstanding businesses and their partners within Singapore's social enterprise sector.
This year's winners received the awards from President Halimah Yacob at a ceremony at the Istana on Thursday evening.
DBS was recognised for the work its DBS Foundation arm has done within the social enterprise sector.
"DBS Foundation was formed five years ago to help social enterprises scale their businesses and correspondingly, their ability to deliver social impact," said board member Karen Ngui. "In addition to providing grants, we also provide mentorship, networking opportunities and capacity building programmes."
"Going forward, we hope that we can work together with even more young social entrepreneurs and their ecosystem partners to help create a better, more sustainable world," added Ms Ngui, who is also DBS' head of group strategic marketing and communications.
The foundation announced in November it would award S$1.3 million in grants to nine social enterprises.