DBS Bank India Achieves Sustainable Financing Milestone with Its First RSPOCertified Palm Oil Procurement for Louis Dreyfus Company India Pvt Ltd


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DBS Bank India Achieves Sustainable Financing Milestone with Its First RSPO-Certified Palm Oil Procurement for Louis Dreyfus Company India Pvt Ltd

  • Friday, February 9, 2024 12:13PM IST (6:43AM GMT)
Mumbai, Maharashtra, India:  In line with its commitment to responsible banking, DBS Bank India has successfully supported Louis Dreyfus Company India Pvt Ltd (LDC) in securing sustainable financing for the procurement of palm oil certified by the Roundtable on Sustainable Palm Oil (RSPO). The transaction was facilitated through DBS Bank Limited; Singapore and this milestone was achieved through the implementation of the bank's innovative Supplier Payment Services (SPS) solution.
By providing early payment options and improving financial stability for suppliers, DBS Bank’s SPS solution reduces the risk of disruptions, resulting in a more stable and resilient supply chain for clients. Furthermore, it promotes supplier inclusion, empowering the bank's clients to expand their supply chains and diversify their sourcing options. The SPS solution enables the bank to make early payments on behalf of clients to their suppliers, allowing them to preserve liquidity and while reducing cash flow pressures on the suppliers. The solution is entirely digital and tailored to meet the client's specific needs.
The RSPO plays a crucial role in promoting sustainability within the palm oil industry and its supply chain by enforcing globally recognised standards. Certified producers undergo regular audits to ensure adherence to these standards, demonstrating their dedication to responsible practices. This initiative aligns with the bank's broader efforts to enhance sustainable financing and offer solutions that empower its clients to further their sustainability goals.
Divyesh Dalal, Managing Director & Head of Global Transaction Services, SME and Institutional Liability Business, DBS Bank India, said, "This transaction represents a significant milestone, underscoring the crucial role of sustainable financing in catalysing positive change. Our innovative SPS solution not only provides scalable and sustainable financing solutions to our clients but also champions responsible sourcing practices and facilitates optimised working capital management. By combining financial innovation with a strong commitment to sustainability, we are empowering businesses to make a lasting impact on the environment and society."
DBS Bank is renowned for its expertise in supply chain financing and goes beyond traditional banking to enable responsible solutions for large enterprises, their supplier networks as well as small and medium businesses, empowering them to streamline operations for enhanced efficiency. The bank's extensive Asian network and deep expertise in customising sustainable solutions enable businesses to mitigate risks and seize growth opportunities.

About DBS

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney, and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 15 consecutive years from 2009 to 2023. Additionally, DBS Bank was ranked among the top 3 on Forbes' list of the World's Best Banks in India for three consecutive years, from 2020 to 2022.

DBS Bank has been present in India for 29 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. The bank now has a network of ~530 branches in 19 Indian states.

As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience. In 2020, DBS introduced the "Towards Zero Food Waste" initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
Click here for Media Contact Details

Rohini Rego, DBS Bank India, [email protected], +91-9930549207

Chennakeshav Shenoy, Adfactors PR, [email protected], +91-9819266998

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