one
FAMILY one TEAM
Sustainability Report 2023
Bangkok Bank Public Company Limited
Vision
To be a bank which provides quality financial services in line with customers' requirements, and is well equipped with qualified human resources and world-class technology and working systems, while maintaining its status as a well-established international bank and a leading Asian bank
Mission
The Bank has a financial mission, market and customer mission, quality operations mission, and capability mission, as described below:
Financial Perspective
To attain stable growth in financial performance
Market and Customer Perspective
To maintain business leadership with service excellence
Quality Operations Perspective
To have efficient working systems and quality control procedures
To set standards for work processes and be able to use data from these processes to support decision-making
Capability Perspective
To equip the Bank's staff with the ability and potential to support the Bank's business expansion
Core Value
The Bank's core value, which enables it to continue to be the leading bank in the country, is "to provide quality financial services which satisfy customers" in keeping with the Bank's role as "a trusted partner and reliable close friend". All personnel in the Bank are required to recognize and uphold this in their individual conduct in all circumstances.
The core value embraces the following working philosophies:
To provide excellent quality service from the customer's point of view
To provide quality work
To perform duties as ethical and professional bankers
To work as a team with shared goals
To give importance to personnel development
Contents
Part
Message from the Board and | ||
1 Sustainability Undertaking | ||
• Message from the Chairman, | 6 | |
the Executive Chairman and the President | ||
• | About Bangkok Bank | 9 |
• | About this Report | 15 |
• | Materiality Assessment | 16 |
- Sustainability Commitments and Targets 22
• | Stakeholder Engagement | 32 |
• | Summary of 2023 Sustainability | 36 |
Performance |
Part
2 Be Resilient
• Risk and Crisis Management | 39 |
Part | |||
3 | Be Responsible | ||
• | Sustainable Finance | 45 | |
• | Inclusive Finance | 55 | |
• Social Reponsibility and Value Creation | 61 | ||
• Environmental and Carbon Footprint | 70 |
Part
4 Be Customer Centric
• | Innovation and Digitalization | 81 |
• | Customer Relations | 86 |
• | Cybersecurity and | 91 |
Data Privacy Protection |
Part
5 Be Caring
• | Talent Attraction and Development | 99 |
• | Employee Welfare and Wellbeing | 104 |
Part
6 Be Ethical
• | Corporate Governance | 111 |
• | Business Ethics | 115 |
• | Awards and Achievements | 124 |
• | Performance Data | 126 |
• | GRI Content Index | 140 |
• | Assurance Statement | 149 |
MESSAGE FROM | BE | BE | BE CUSTOMER | BE | BE |
THE BOARD | RESILIENT | RESPONSIBLE | CENTRIC | CARING | ETHICAL |
Message from the Chairman, the Executive Chairman and the President
Bangkok Bank Public Company Limited | Sustainability Report 2023 |
MESSAGE FROM | BE | BE | BE CUSTOMER | BE | BE |
THE BOARD | RESILIENT | RESPONSIBLE | CENTRIC | CARING | ETHICAL |
Message from the Chairman, the Executive Chairman and the President
Thailand's economy continued to recover throughout 2023 at a slower-than-anticipated pace due to the global economic slowdown. We still sought to assist businesses of all sizes so that they could compete and grow sustainably. While our corporate customers could generally manage the situation well, some smaller enterprises that had not fully recovered from the impact of the Covid-19 pandemic continued to face difficulties. As a trusted partner, reliable close friend and responsible financial services provider, we have put more effort into supporting our customers, in line with our One Family, One Team strategy, which is to be united across all constituents of Bangkok Bank, and stay close to our customers to gain insights into their evolving needs so that we can provide them with the support they need to achieve their potential. All of these efforts and approaches align with our goal to be Thailand's most trusted bank by striving for business sustainability and managing risk effectively while considering the long-term benefit for stakeholders when making decisions with a view to building a sustainable future for all involved parties.
Phornthep Phornprapha
Chairman
We seek to help Thailand create a more inclusive and sustainable economy through our sustainability framework which is founded on four key pillars:
- Efficient and effective risk management covering short- term and long-term materiality issues while monitoring changes in the economy, society and environment as well as assessing threats and opportunities arising from them
- Sound human resource management
- Good corporate governance
- Sustainable value creation for society and the environment.
We believe the above policy direction will enable us to effectively manage challenges while creating long-term value for all stakeholder groups. We will continue to focus on assisting customers so they can deliver sustainable profit and face future uncertainties with confidence.
We will continue to focus on assisting customers so they can deliver sustainable profit and face future uncertainties with confidence.
We have established a framework for Responsible Lending to serve as a guideline for underwriting business and consumer loans, thereby strengthening our position as a responsible lender.
Bangkok Bank Public Company Limited | 6 | Sustainability Report 2023 |
MESSAGE FROM | BE | BE | BE CUSTOMER | BE | BE |
THE BOARD | RESILIENT | RESPONSIBLE | CENTRIC | CARING | ETHICAL |
Deja Tulananda
Executive Chairman
Thai society continues to evolve in line with the megatrends of regionalization, digitalization and urbanization, as well as ESG-related issues and climate change which are becoming increasingly important to our business and that of our customers. We have implemented a number of initiatives to tackle these megatrends, such as: providing finance to customers to make their homes and businesses more energy efficient; funding major renewable energy and mass transit projects; supporting new industries such as electric vehicles; providing transformation finance; underwriting the issuance of green and sustainability bonds; improving financial literacy; expanding financial inclusion through the use of banking agents; extending finance to micro-enterprises; replacing paper-based systems with digital ones; strengthening security measures to protect customers from fraud; and working with local communities to address their challenges. We also organized knowledge-sharing programs to help customers build their capability about how to operate their business in a more environmentally friendly way and meet new ESG requirements, as value-added services to supplement our provision of financial services.
In recognition of our achievements in sustainable and responsible banking, we have won many awards including Best Bank for Sustainable Finance in Thailand and Outstanding Leadership in ESG-Related Loans for Asia Pacific from Global Finance magazine's Sustainable Finance Awards 2023, and Best Sustainable Bank in Thailand in 2023 from FinanceAsia. We also won four awards from the National Cyber Security Agency for Cybersecurity Performance Excellence and a Community Engagement Award from the Senior Citizen Home Safety Association.
We are committed to strengthening our position as a leading ASEAN bank while enhancing our capabilities as a digital bank and a green bank.
We are committed to strengthening our position as a leading ASEAN bank while enhancing our capabilities as a digital bank and a green bank which can help Thailand to achieve its SDGs and the Paris Agreement goals. We will foster a sustainability culture by increasing awareness about the role we can play in reducing GHG emissions and developing a roadmap for our transition to net zero. In collaboration with the Bank of Thailand and the Thai Bankers' Association, we will systematically integrate environmental and climate considerations into our business conduct and reduce financed emissions across our loan portfolio.
Bangkok Bank Public Company Limited | 7 | Sustainability Report 2023 |
MESSAGE FROM | BE | BE | BE CUSTOMER | BE | BE |
THE BOARD | RESILIENT | RESPONSIBLE | CENTRIC | CARING | ETHICAL |
We will continue to strengthen our ESG efforts, support our employees' welfare and development, and foster a good governance culture within our organization.
Chartsiri Sophonpanich
President
To improve our ESG performance and fulfill our stakeholders' expectations, we will continue to strengthen our ESG efforts, support our employees' welfare and development, and foster a good governance culture within our organization. For the past eight decades, Bangkok Bank has provided a helping hand to millions of people, enabling them to achieve their dreams of improving their financial health, buying a home, advancing their agricultural capabilities, or building their own business. As we have developed from a leading Thai bank into a leading ASEAN bank, we have enabled small Thai businesses to grow into regional giants while playing a part in Thailand's passage toward prosperity. We believe that by continuing along our sustainability journey, we can continue to serve and create value for all our stakeholders well into the future.
(Phornthep Phornprapha) | (Deja Tulananda) | (Chartsiri Sophonpanich) |
Chairman | Executive Chairman | President |
Bangkok Bank Public Company Limited | 8 | Sustainability Report 2023 |
MESSAGE FROM | BE | BE | BE CUSTOMER | BE | BE |
THE BOARD | RESILIENT | RESPONSIBLE | CENTRIC | CARING | ETHICAL |
About Bangkok Bank
Bangkok Bank Public Company Limited was founded in 1944 and was among the first 16 companies to be listed on the Stock Exchange of Thailand in 1975. Currently, the Bank is Thailand's largest commercial bank by assets and a leading bank in Southeast Asia with an extensive branch network in every province of Thailand and an international network covering 14 key economies, namely Cambodia, Hong Kong, Japan, Laos, Myanmar, the Philippines, Singapore, Taiwan, the UK, the US and Vietnam, as well as our international subsidiaries Bangkok Bank Berhad in Malaysia, Bangkok Bank (China), and PermataBank in Indonesia.
We offer a full range of diversified financial products and services for both business and individual customers through our local and international branch networks, business centers, automatic banking channels, digital banking services and banking agents. We are committed to being "puan koo kit mit koo baan" (a trusted partner and reliable close friend) with an emphasis on building and maintaining relationships with customers from generation to generation. We also place importance on operating our business responsibility for society, the environment and all groups of stakeholders by adhering to good governance principles while being customer-centered and following sustainable business practices. Our sustainable development goal is to be the most trusted bank by doing business sustainably, managing risk effectively, and considering the long-term benefits of stakeholders with the aim to build a sustainable future for all. In addition,
Bangkok Bank Public Company Limited | 9 | Sustainability Report 2023 |
MESSAGE FROM | BE | BE | BE CUSTOMER | BE | BE |
THE BOARD | RESILIENT | RESPONSIBLE | CENTRIC | CARING | ETHICAL |
we encourage our personnel to work together closely under the concept of One Family, One Team to seamlessly deliver excellent service to our customers wherever they are, with three key components:
Products and Services
Products and Services for Business Customers | Products and Services for Individual Customers |
- Caring: We care for and support each other, our customers and communities as reliable close friends through good times and bad.
- Insightful: We continually develop the knowledge, expertise and insights to support each other and our customers.
- United: We work together as trusted partners to enable our customers to achieve their goals.
Bank Information
Date of Establishment
1 December 1944
Head Office Address
333 Silom Road, Silom, Bang Rak,
Bangkok 10500
Total Asset Value
4,514,484 million Baht
- Deposit accounts
- Credit card products
- Business loan products
- Credit card merchant services
- Payment services
- Collection services
- Liquidity management services
- Financial services for international trade
- Financial risk protection services
- Securities services
- Investment banking services
- Digital banking services, including internet banking services (BIZ iBanking and Corporate iCash), digital banking for export and import services (Bualuang iTrade), online payments for buyers and dealers (Bualuang iSupply), electronic guarantee issuance services (Bualuang e-Guarantee), online service for customers in asset management, the securities business and financial institutions (Bualuang iCustody), and online service for provident fund members and provident fund committees (Bualuang iFunds)
- Corporate Service Center
- Savings products including savings accounts and current accounts, fixed deposit accounts, and e-Savings accounts
- Investment products including mutual funds, bonds and debentures
- Consumer credit cards and debit cards
- Security protection services including life insurance, accident and health insurance, personal loans and loans for pensioners
- Home and residence products including home loans, home equity loans and properties for sale
- Digital banking services including mobile banking services (Bangkok Bank Mobile Banking), internet banking services (Bualuang iBanking) and QR Code payment services
- Contact Center (Bualuang Phone)
- Banking services through automatic teller machines
- Currency exchange and foreign instrument services
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MESSAGE FROM | BE | BE | BE CUSTOMER | BE | BE |
THE BOARD | RESILIENT | RESPONSIBLE | CENTRIC | CARING | ETHICAL |
Guidelines for Sustainable Business
Uncertain and fast-changing situations related to environmental, social and governance (ESG) aspects present both opportunities and challenges for businesses today. Businesses that are able to successfully adapt to and embrace changes can gain a competitive advantage over their peers. Additionally, companies that integrate ESG factors into their business will have a broader perspective and should be better able to identify opportunities and risks. This should enable them to properly formulate strategies and set forth measures to expand business opportunities and reduce ESG risks.
We recognize the expectations of all stakeholder groups when considering our sustainability or ESG practices, as well as the policy directions from regulators that require businesses to take tangible actions in terms of social and environmental responsibility, particularly supporting the country to achieve carbon neutrality in 2050 and net zero carbon emissions in 2065. Therefore, the Bank has developed a sustainability policy and a systematic sustainability framework including setting sustainability strategies that are aligned with our business and the interests of our stakeholders. We have also incorporated materiality issues derived from the double materiality assessment that require stakeholder engagement as a foundation for formulating our strategy while identifying commitments, key performance indicators, and short-term and long-term targets for each materiality issue. This is to demonstrate our sustainability commitment and performance. Our sustainability policy and strategies have been agreed to by senior executives and approved by the Board of Directors.
Sustainability Policy
We have founded our sustainability policy on four key pillars as follows:
- Prudent and Comprehensive Risk Managementcovering significant issues in both the short-and long-termwhile keeping abreast of situations and assessing business opportunities resulting from changing economic, social and environmental conditions.
- Human Resource Management including treating employees equally and fairly without discrimination, providing them with occupational health, safety and wellbeing, and continually developing their knowledge and skills.
- Good Corporate Governance.
- Creating Sustainable Value for Society and Environment including promoting financial literacy and financial inclusion, participating in corporate social responsibility activities, and encouraging suppliers to conduct their businesses in a sustainable manner.
In addition, we place importance on sustainability governance, stakeholder engagement and communication, and capability building for directors, executives and employees at all levels to ensure effective policy implementation.
Please scan the QR Code for addition information on Our Sustainability Policy
Bangkok Bank Public Company Limited | 11 | Sustainability Report 2023 |
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Disclaimer
Bangkok Bank pcl published this content on 08 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2024 00:53:08 UTC.