Uplifting lives and livelihoods in Hong Kong:
DBS Foundation is deploying over HKD 40 million for the city’s vulnerable communities,
in collaboration with HKCSS

Over 100,000 underprivileged individuals
are set to benefit from two new innovative programmes in the next three years

Hong Kong, 16 December 2024 – DBS Foundation (“the Foundation”) and the Hong Kong Council of Social Service (“HKCSS”) announced a groundbreaking partnership to launch two innovative three-year community programmes, aiming to improve the lives and livelihoods of more than 100,000 underprivileged individuals in Hong Kong. Supported by over HKD 40 million in funding from DBS Foundation, these programmes align with the Foundation’s dual focus on Providing Essential Needs and Fostering Inclusion. The programmes will provide immediate relief while equipping vulnerable individuals and their families with the tools and resources needed to build more confident and resilient futures.

“We are pleased to partner with HKCSS to leverage their extensive expertise and network in developing impactful and scalable solutions in Hong Kong and for Hong Kong,” said Sebastian Paredes, CEO of DBS Bank (Hong Kong) Limited and Head of North Asia, DBS Group. “Together, we aim to drive sustainable change, uplift lives, and create a more inclusive future for the underprivileged in Hong Kong. This is only the beginning, and we will be developing and funding more innovative programmes in the near future.”

The first programme, SilverConnect, will transform healthcare service delivery for elderly in Hong Kong by developing and implementing an integrated tele-practice platform. This platform will offer a comprehensive suite of digital healthcare services, enabling elderly to conveniently access essential support and social care from their homes or residential care facilities. By enhancing accessibility, the programme aims to improve the long-term health and wellbeing of over 52,000 elderly and caregivers.

The second initiative, Treasure Wealth, Treasure Love – Family Financial Education Programme, adopts a holistic approach to financial education and planning to strengthen the financial resilience of low-income families. DBS volunteers and social workers will collaborate to deliver financial literacy workshops, group activities, and personalised coaching sessions. The programme aims to equip underprivileged families with essential financial planning skills, foster transparency in household finances, and empower them to achieve sustainable financial health. More than 46,000 beneficiaries are expected to be empowered through this programme.

“With the support of the DBS Foundation, the HKCSS and NGOs involved in the project can launch innovative services, allowing more elderly people to benefit from tele-healthcare services while families enhance their financial literacy and maintain good financial health. These efforts contribute to the continuous improvement of people’s quality of life and promote social development.” said Chua Hoi Wai, JP, Chief Executive of HKCSS.

This announcement follows DBS Bank’s pledge to commit up to SGD 1 billion over 10 years to uplift vulnerable communities and catalyse social impact across its core markets in the region. By 2027, the Foundation’s multi-year efforts are expected to improve the lives and livelihoods of two million low-income and underprivileged individuals across Asia, underscoring DBS’s position as a purpose-driven organisation.

Karen Ngui, Head, DBS Foundation and DBS Group Strategic Marketing and Communications, said, “At DBS Foundation, we aspire to creating impact beyond banking, beyond borders, and beyond generations by uplifting the lives and livelihoods of vulnerable communities in Asia. Our mission is to enable those in need to cope with life’s uncertainties so that they can be more socially and financially resilient, by making their everyday better and every tomorrow brighter. I am happy that DBS Foundation will partner with HKCSS to launch our first scaled-up programmes in Hong Kong. Together, we believe we can do well by doing good.”

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About DBS Foundation

DBS Foundation has been at the forefront of championing social entrepreneurship in Hong Kong since 2014. Beyond supporting social enterprises and purpose-driven SMEs, the Foundation has established strategic partnerships with like-minded organisations to drive impactful, community-focused programmes that create meaningful change.

Over the past decade, DBS Foundation has achieved significant milestones in Hong Kong, including:

• Over HKD 75 million in grants and funding awarded to 35 social enterprises and NGOs, enabling them to scale operations and deepen their impact;
• 7 multi-year community programmes launched in collaboration with strategic ecosystem partners, benefiting more than 430,000 underprivileged individuals;
• Over 170,000 volunteer hours contributed by our DBS People of Purpose, who dedicated their time and skills to support and uplift communities in need.

As a champion of “Doing Well by Doing Good,” DBS Foundation remains committed to galvanising stakeholders to take action and driving social impact through its dual focus on Providing Essential Needs and Fostering Inclusion. This mission aligns with DBS Bank’s pledge to commit up to SGD 1 billion over 10 years to uplift vulnerable communities across its core markets in Asia. The effort is further supported by a commitment of 1.5 million volunteer hours by DBS People of Purpose to empower the underprivileged in building more confident and resilient futures.

For more information, please visit: www.dbs.com/dbsfoundation.

About DBS

DBS is a leading financial services group in Asia with a presence in 19 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 Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. 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 and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 16 consecutive years from 2009 to 2024.

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, as it banks the Asian way.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities.

For more information, please visit www.dbs.com.

About The Hong Kong Council of Social Service (HKCSS)

The HKCSS is a statutory body established in 1947. Together with our Agency Members, we uphold social justice and equality in our mission to advance the well-being of the Hong Kong community. The HKCSS is committed to building an impact-oriented, collaborative, and innovative social service sector, and co-creating a better society with stakeholders across different sectors. The HKCSS has over 520 Agency Members, with service units throughout Hong Kong, providing high-quality social services to those in need.

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