G H Bank receives AREA 2022 in the Regional Corporate Sustainability Reporting Category
G H Bank receives the Asia Responsible Enterprise Awards (AREA) 2022 in Corporate Sustainability Reporting category from the “Sustainable [GH]Bank for Thai People” Project, making G H Bank the first financial institution in Thailand to receive this award. This demonstrates that G H Bank is the best in housing solution institution implementing corporate sustainability to improve housing security for Thai society in accordance with the Bank’s mission to enable more Thai people to have their own homes.
G H Bank President Chatchai Sirilai reveals that G H Bank receives the Asia Responsible Enterprise Awards (AREA) 2022 in Corporate Sustainability Reporting category from the “Sustainable [GH]Bank for Thai People” Project, awarded by Enterprise Asia, an independent organization which encourages and promotes Asian businesses outstanding in social and environmental responsibility. G H Bank is the first financial institution in Thailand to receive this award emphasizing G H Bank is the housing solution leader, and continuously implements corporate sustainability to improve housing security for Thai society in accordance with the Bank’s mission to enable more Thai people to have their own homes.
Asia Responsible Enterprise Awards (AREA) recognizes and honors outstanding Asian businesses for social and environmental responsibility, good governace, and sustainable business practices. The awards are divided into eight categories: Social Empowerment, Investment in People, Health Promotion, Green Leadership, Corporate Governance, Circular Economy Leadership, Responsible Business Leadership, and Corporate Sustainability Reporting.
This award is another G H Bank’s pride and success and it demonstrates G H Bank’s determination to operate the organization through sustainability, reliability, and transparency. G H Bank’s business growth corresponds with social responsibility and reflects the Bank’s sustainable goal relevant to the United Nation’s Sustainable Development Goals (SDGs) No. 1 No poverty and No. 10 Reduce inequality domestically and globally. G H Bank has demonstrated through key performances which are: setting organizational strategy and direction, preparing a master plan for social and environmental responsibility, and formulating the ‘I AM GHB’ strategy in three dimensions. First, CSR in Process, in the economic aspect, G H Bank launches the Social Solution Housing Loans to enable the low- and middle-income earners to have their own homes such as the Baan Laan Lung Project. In the social aspect, G H Bank helps provide assistance to the low-income earners to have accessibility to housing loans market through the Financial Literacy Project. The Project collects data of those who want to have a house but they are no longer applicable and qualified for Bank’s mortgage lending criteria by providing knowledge and understanding to participants in order to help create financial discipline and prepare them to be applicable in the future and at the moment over 19,505 households have already owned their own homes under this assistance package. The Bank also bails out a total of 22 different relief schemes to help assist the customers affected by the COVID-19 pandemic. The total sum of 973,227 households opted in the relief schemes and approximately 87% opted out to resume paying their repayments as normal, therefore only 120,965 households are still remaining under G H Bank’s assistance of ‘the sustainable debt restructuring scheme’ to help assist them to resume paying again. In the environmental aspect, G H Bank launches the energy-saving home loan ‘Baan Yoo Yen Pen Sook’. Second, CSR After Process, a Housing Fund has been set up to elevate the sustainable quality of life of people in communities. Finally, CSR in Mind, G H Bank staff have been embedded and encouraged to provide assistance to society and community through the organizational financial expertise under the concept of ‘it is not just our duty, but it is our loving care’.
With sustainable organizational management following the ‘GHB Next Move Sustainable Bank’ strategy, G H Bank uses these three key guidelines for business management: 1) Enhancing technology by providing digital services to customers through the mobile application: GHB ALL;
2) Elevating customer operation; and 3) Developing personnel towards ‘People Excellence’ to be able to adjust themselves to changing technologies; and capable to work proficiently and professionally in accordance with the Bank’s vision ‘The Best Housing Solution Bank’. The AREA Awards are the symbol of excellence in encouraging innovation initiatives and sharing the Bank’s best practice to the world. It also demonstrates G H Bank as a sustainable and responsible organization approaching the higher standards as other Asian organizations.
