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The main core values of GSB are the Bank's continuous role of promoting savings and
creating financial discipline for Thai people. Theoretically, a society with good saving behavior
is indeed the foundation of a stable and secure economic system. In this connection, it can be said that
the Bank has continuously been undertaking corporate social responsibilities (CSR)
in its business operation process.

However, savings promotion alone may not be In 2020, due to COVID-19 pandemic situation,
sufficient. As Thai society encounters problem of inequality, multitude of people have been adversely affected from
most of the people are low income earners and lack the epidemic and preventive control measures. Therefore,
opportunities to access capital with suitable costs, positions it is a challenge for the Bank to manage its business
and incomes. Therefore, GSB has made key strategic continually, and at the same time, alleviate the hardship
position adjustment in order to push the bank to be “Social and negative impact of the people, especially the grassroots
Bank” in tangible and wider dimension than before. The people and SMEs who are the Bank’s main customers.
objectives are to play an important role in solving poverty In this regard, the Bank has launched assistance
and reduce financial inequalities of people in the society, measures in 2 dimensions, including cost reductions
help low-income earners or grassroots people and small such as debt service suspension, and liquidity enhancement
entrepreneurs to access capital with reasonable and fair by offering loan measures with lenient conditions.
costs, as well as support the government to look after In addition, the Bank has organized a major project under
the society, while conduct common banking commercial the concept of “Aomsin for Samui” as a prototype model
business operations, with the aims to make the positive to provide comprehensive assistance to economic areas
impact on society. In terms of business operations, the Bank which rely on tourism as their main sources of incomes.
has redesigned its financial products to emphasize on aiding Under the project, the Bank would help participants to
grassroots people as the main targeted group. As a result, solve the debts, enhance their liquidity, increase
these prove that GSB operates business with adherence to the amount of money circulating in the area of more
Corporate Social Responsibility as its core operation. than 1,500 million baht, as well as provide immediate
assistances such as consumer goods, scholarships, and
In other words, the Bank commits to ESG principles support occupational equipment. Moreover, the Bank
when carrying out its mission under the social bank strategy, also launched projects in accordance with philosophy
taking into account the environment, social and economic and of sufficiency economy in order to provide benefit
business governance throughout the process. The Bank has the communities sustainably in the long term.
accepted “Principles for Responsible Banking” under UNEP
Finance Initiative (UNEP FI) of the United Nations Environment In the future, despite alleviations in the situations and
Programme. It is the first state-owned bank to participate in changes in business environments, GSB would continue
the program to enhance the Bank's social, environmental, and to adhere to business philosophy under the “Social Bank”
good corporate governance practices in line with international strategy in this new era. I have a strong commitment and
standards, as well as integrate the new economic model or confidence that the Bank will be able to raise the quality of
BCG Model into practical implementation in key operational life of the grassroots people and create concrete positive
processes such as credit approval, procurement, etc. The Bank effect on the society.
would provide support industries in the BCG Model to concretely
drive new economic model to realize sustainable development
of the country according to government policy.

(Vithai Ratanakorn)
GSB President and CEO

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