Government Savings Bank wins 2 AREA 2023 awards, emphasizing its leadership and social responsibility organization.
Mr. Witai Rattanagorn, Director of the Government Savings Bank, received two awards at the Asia Responsible Enterprise Awards 2023. These awards included the Individual Award for Responsible Business Leadership and the Organization Award for Social Empowerment. The awards were organized by Enterprise Asia, a leading NGO promoting responsible entrepreneurship in Asia, to recognize and honor businesses and leaders in Asia who have demonstrated outstanding social responsibility.
The Responsible Business Leadership Award recognizes visionary leaders dedicated to supporting and driving organizations towards sustainability, prioritizing the benefit of the community and society. Mr. Witai successfully transformed the Government Savings Bank into a social bank, creating tangible positive impacts through its normal business operations. A portion of profits was allocated to social missions, resulting in numerous significant changes aligned with Sustainable Development Goals, particularly in poverty alleviation and reducing financial inequality. Examples include a land-backed loan program to assist small business owners affected by the COVID-19 crisis, and a vehicle registration loan program that streamlined interest rates, providing lower and fairer access to financing for grassroots communities. Furthermore, numerous other initiatives have strengthened society, such as job creation projects and debt relief programs during the COVID-19 crisis.
The Social Empowerment Award is given to organizations with projects that strengthen society. The Government Savings Bank (GSB) received this award for its Holistic Area Based Development project, in collaboration with the Mae Fah Luang Foundation under Royal Patronage. This project developed five remote villages in Khun Nan Subdistrict, Chalerm Phra Kiat District, Nan Province, as a model for development in nine areas encompassing quality of life, economic, community, and social dimensions. Examples include promoting coffee cultivation as an alternative to degrading crops, creating sustainable income from quality coffee farming; GSB assisting in developing alternative occupations for community members, such as homestays, handicrafts, and future tourism-related professions; and other development dimensions such as building strong savings systems and providing financial literacy, improving infrastructure, education, and public health.
It is a matter of pride for Government Savings Bank to win two important awards from Enterprise Asia this time, which helps reinforce its success as a Truly a "social bank"
The Asia Responsible Enterprise Awards 2023 “AREA 2023,” a regional awards competition in Asia, was recently held in Cambodia for the 13th year.
