Operation performed following the Sustainable development goals (SDGs)

The GSB Sustainable Approach aims to reduce inequality and create access to fair capital. This agrees with the United Nations Sustainable Development Goals (SDGs) of 2 goals, namely Goal 1: Eliminate poverty in all forms everywhere (No Poverty) and Goal 10 Reduced Inequalities according to the Triple Bottom Line Concept. This is to balance stakeholder both External Sustainability in strengthening the foundation economy, society and community and the Internal Sustainability in carrying out commercial missions, strengthening Social Mission Integration in all important processes to drive the organization toward Sustainability.

GSB, as a large specialized financial institution of the state, has always given importance to sustainable development. The aim is to meet the expectations of key stakeholders. This leads to economic, social and environmental development with efficiency keeping up with rapidly changing situation as well as various problems and challenges such as increasing competition in the banking sector, behavior and needs of customers that have changed, advances in digital technology, changes in rules, regulations, climate change entering an aging society, household debt and social inequality. GSB has therefore raised the level of business operations with the determination to be a full-fledged social bank. The GSB Sustainability Approach is set to “reduce the inequality and create
positive impacts on society” with the concept of “Making POSITIVE Impact on Society” through creating sustainability and taking care of stakeholders in a balanced manner (External Sustainability). The opportunities are created for everyone to be able to equally access to funding sources. This is for strengthening the Government’s Policy together with the Internal Sustainability in the commercial
operation to create the corporate financial strength and for Resource Optimization under systematic risk management, good governance, and international standards with Trust & Transparency. This aims to meet the Sustainable Development Goals (SDGs) in 2 main goals, namely Goal 1, No poverty and Goal 10, Reduced inequalities. The major operations are as follows:

Key sustainable development goals

Examples of key operations

1 No Poverty

Developing products and service channels of GSB to create equal opportunities for everyone to access low-interest and fair financial resources. GSB ensures quality and security through projects such as vehicle registration pawn loans, loans with lower interest rates than the market, MyMo My credit project, public financial institution project, and policies providing assistance to natural disaster victims. GSB supports lending to over 1,858,000 individuals, totaling 127,000 million baht in 2022.
Promoting the development of entrepreneurs, low-income individuals, and community organizations in local areas to enhance their capabilities and increase their income. This is achieved through projects such as developing students into startup entrepreneurs with the Start-up: GSB Micropreneur project, and promoting savings for social and environmental purposes. Approved loans for entrepreneurs amounted to 45,937 individuals, totaling 66,608 million baht in 2022.
Assisting in reducing the burden of debts, including implementing debt relief measures and continuously improving debt structures during the COVID-19 crisis resulted in a decrease in GSB’s revenue by more than 10,700 million baht due to the suspension of interest income recognition.
Supporting budget allocation of over 4,000 million baht for various social initiatives, such as job creation projects, promoting savings and financial discipline, as well as social and environmental responsibility across several projects.

10 Reduced
Inequalities

Promoting digital innovation and upgrading bank services to encompass all segments of society, for example, developing ATMs to accommodate transactions for visually impaired individuals and providing digital loan services through MyMo. Approved loans for 251,925 individuals totaled 4,716 million baht in 2023.
Promoting financial knowledge and skills to the general public at all levels, enabling efficient financial planning and debt management. This is achieved through projects such as the School Bank initiative, providing financial education through the application Aom Tung/Coach Aom. The app has been used by 387,338 users and 100 digital school banks were approved in 2022.
Developing responsible lending and investment practices, promoting objectives for loan and investment requests that create positive impacts and reduce negative impacts on the economy, society, and the environment. This is done through socially and environmentally focused financial products, such as BCG/ESG business loans, renewable energy loans (Solar Cell), and loans for quality education development (for schools and early childhood development centers under the municipality). Approved GSB loans for BCG Economy amounted to 1,699 individuals, totaling 5,828 million baht in 2022.