DBS Foundation is top private donor in S’pore, committing over $100m to social causes

Top 10 givers on list donated $316m to various causes such as education, health

- Theresa Tan Senior Social Affairs Correspondent

(From left) DBS Foundation head Karen Ngui, DBS Singapore country head Lim Him Chuan, DBS Foundation chairman Ho Tian Yee, Minister of State Jasmin Lau, ITE chairman Andrew Chong and ITE chief executive Low Khah Gek at the launch of a DBS Foundation and ITE partnership on Nov 7. Soristic's report noted that the DBS Foundation committed $102.6 million in 2024 to support 16 new multi-year programmes and 22 businesses to benefit vulnerable communities across Asia. ST PHOTO: GIN TAY

(ST PHOTO: GIN TAY)

The DBS Foundation topped a list of Singapore’s largest private donors for the first time, having committed to giving $102.6 million in 2024 to fund various causes such as supporting low-income families and other vulnerable groups.

Set up by DBS Bank in 2014 to champion social entrepreneurship, the foundation surpassed long-established givers such as the Lee Foundation, Lien Foundation and Ngee Ann Kongsi in the latest edition of the report.

The 2025 edition of the Singapore’s Biggest Philanthropic Organisations report was released on Nov 20. This is the fourth iteration of the list published by social impact consultancy Soristic.

The top 10 givers gave $316 million in grants to a variety of causes, including education, health and social welfare.

The Ngee Ann Kongsi, a Teochew philanthropic group that gave $40.6 million in 2024, was ranked second.

Soristic came up with the list of Singapore’s largest private donors based on philanthropic groups that are registered with the Commissioner of Charities or the Inland Revenue Authority of Singapore.

It looked at these groups’ annual reports and websites, among other public sources of data.

Philanthropic groups that are politically affiliated, faith-based or government-related were excluded from the list.