DBS Bank has established a $50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia. The bank said it is launching DBS Foundation, with a view to scale up its support for communities in Asia. The foundation’s objectives are expected to evolve over time in line with the region’s changing needs, according to DBS chief executive Piyush Gupta. In the foreseeable future, it intends to encourage the development of innovative social initiatives. These could include nurturing the social entrepreneurship sector.