DBS Bank has been named to the Bloomberg Gender-Equality Index (GEI) for the third year running. DBS’ inclusion in this year’s index recognises the bank’s commitment to workplace gender equality. This includes having a robust female leadership and talent pipeline, gender pay parity, and an inclusive culture. Apart from its policies, the bank has also demonstrated its strong support for gender equality through its disclosure practices and transparency.
Said DBS CEO Piyush Gupta, “The diversity of our people is a powerful performance lever. In a world where women continue to be underrepresented, we have been focused on building a respectful and inclusive workplace that provides equal opportunity and growth. The women at DBS Singapore, who comprise 60% of our workforce, 40% of our senior management[1] and a third of our Group Management Committee, have been a key driving force behind the bank’s performance. Being named to the index for the third consecutive year is an important achievement for us, as it underscores our commitment to gender equality, which is key to sustainable development.”
DBS’ policies are designed to help empower women employees in the workplace. They include flexible time arrangement, sabbatical leave arrangement and maternity leave. On the hiring front, DBS has been recruiting more female talent in technology – an area that is conventionally male-dominated – through targeted hackathons. DBS Foundation, the first foundation in Singapore dedicated to championing social entrepreneurship, supports and funds numerous social enterprises that empower disadvantaged women and girls. DBS is a supporter of Impact Investment Exchange’s Women’s Livelihood Bond Series, which recently closed a second USD 12 million bond to help create sustainable livelihoods for more than 250,000 underserved women in the region. The bank also celebrates International Women’s Day across all key markets to raise awareness around gender equality.
“The 325 companies included in the 2020 GEI have shown their commitment to transparency and demonstrated leadership in gender-related data reporting,” said Peter T. Grauer, Chairman of Bloomberg. “Disclosure of company statistics and practices is an important first step in supporting gender equality globally.”
This year, Bloomberg expanded the eligibility for inclusion in the index to nearly 6,000 companies across 84 countries and regions. Companies that made the index cut across various industries, including automotive, banking, consumer services, engineering and construction, and retail.
