SME Banking: Triple bottom line solution

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AMBASSADOR Jesus P. Tambunting, chair of Plantersbank, delivers a speech during the Apec SME Summit.

Change is in the air. There is a movement all over the world vigilantly working to bring balance to the systematic muddle that has been plaguing the planet, and a dramatic rise to the number of businesses incorporating social responsibility and voluntary commitment to environment-friendly corporate governance.

However, triple bottom line is still a wonderful theory to some. SME Banking is no different. Bankers still shy away from the responsibility and the cost especially in a highly competitive market and unstable economy. Understandably, maximizing profits come first. The question still remains: Can a privately owned bank contribute to solving social problems such as poverty and still remain profitable?

In December 2005, a study presented at the Global Conference on Poverty at the Harvard Business School in Boston, cited three privately owned development banks in Asia, the United States, and Europe, for successfully pursuing double bottom line banking. One of the banks came from the Philippines.

Plantersbank was cited for its single-minded focus on small and medium enterprises or SMEs.

Social purpose is key

The recently concluded 9th Asia Pacific Economic Cooperation (Apec) Financial Institutions Dealing with Small and Medium

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