DBS sets up $50m foundation
Foundation is set to impact communities in the region
DBS Bank yesterday launched a $50 million foundation as it scales up to make a positive impact on the communities in the region.
From the $50 million, the foundation expects to have an income of $2.5 million-$3 million a year which it can spend on initiatives to address the region's evolving social needs, said Piyush Gupta, DBS chief executive.
The foundation will support community programmes, provide grants to nurture social enterprises, as well as donations for natural disaster relief.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly