Why this is material to us
Giving back to society has long been an important part of OCBC's corporate culture. We recognise that our wellbeing is intrinsically linked to that of society. By engaging and supporting the communities where we operate, we can help to shape a more prosperous and sustainable future for all of society.
Across OCBC's core markets, we are committed to supporting the underserved in the community. Leveraging on the resources of the Bank, we seek to address challenges in society and meet critical unmet needs. Our #OCBCCares Programme, carried out across all our markets, continues to spearhead our efforts to give back to the community. On top of providing crucial funding to support various causes, we also encourage our employees to contribute their time and skills through various volunteering opportunities.
We focus our efforts to make a difference through targeted programmes in four thematic areas, in line with our commitment to the SDGs:
Families: Supporting cohesive and healthy communities.
The elderly: Meeting the health and social interaction needs of an ageing population.
Persons with special needs: Encouraging social inclusion and acceptance.
Environmental sustainability: Promoting environmentally-responsible behaviour and reducing carbon emissions as part of our climate action strategy.
Underpinning OCBC Malaysia's ongoing community development strategy is the implementation of our three-pronged corporate-division-branch approach. This implementation framework forms the tangible dimension of our volunteer-based strategy:
Corporate - Scholarships, Cycling & Health (OCBC KL Car Free Morning and OCBC Cycle KL), the FINCO (Financial Institutions Collective Outreach) programme with other members of the industry, Disaster Support through a pre-determined budget at the company's disposal for supporting national disasters.
Branch - At least one activity a year for each branch, based on a funding allocation that is thought out and implemented at branch level.
Division - At least one activity a year per division, based entirely on money raised by the staff themselves, carried out at division level.
Covid-19 response efforts
In 2021, we contributed nearly RM1 million through 44 Covid-19 related social support activities at corporate, branch and division levels involving about 1,500 staff who spent 2,927 hours to help 76,807 individuals nationwide.
When the healthcare system in Malaysia became overwhelmed by the growing number of Covid-19 cases, we made a RM50,000 contribution - a combination of corporate and staff funds - to kick-start the Hospital Emergency Fund set up by The Institute for Democracy and Economic Affairs (IDEAS) Community Project and its partner Projek Bangsa Malaysia. In no time the amount snowballed into a RM1.5 million fund involving thousands of others from outside the organisation who caught on to the urgency of the need. With that, a wide range of medical equipment was purchased to attend to the needs of the healthcare system.
OCBC public scholarships
Since the 1970s, OCBC Bank has been offering tertiary education scholarships to deserving Malaysian students who are academically gifted, active in co-curricular activities and come from needy families. In 2021, we disbursed over RM300,000 in funds to 31 students pursuing degrees at either private or public universities or colleges of their choice nationwide. In addition to help the students secure a degree, the scholarships provide an avenue for them to participate in internships at the bank and even gain employment with us.
Financial Industry Collective Outreach (FINCO)
In 2021, OCBC Bank became a member of the industry-wide Financial Industry Collective Outreach (FINCO) Steering Committee and Communications Committee. We were also appointed to the Chair of the FINCO Disaster Relief Committee. FINCO is a collaborative initiative involving all financial institutions in Malaysia with the guidance of Bank Negara Malaysia to provide under-privileged children and youth with the guidance and educational tools they need to achieve their life goals.
Why this is material to us
Creating inclusive economic growth over the long-term is imperative for sustainable development. As a bank, to build and maintain public trust, we must be transparent about the value we create and how this is distributed to our stakeholders.
Our economic contributions to Malaysia include:
- Providing financial solutions to our customers.
- Deriving retained earnings and dividends for our investors.
- Making taxation and zakat payments to our regulators and government agencies.
- Compensating our employees fairly.
- Sourcing goods and services mainly from local vendors and suppliers to support the local economy.
- Various fundraising efforts and charitable donations.