Bandar Seri Begawan, 04 December 2008.   Solid performance and growth in business volume and activities in the past year have propelled Baiduri Bank to receive the Bank of the Year award for Brunei.  This is the sixth time since 2002 Baiduri Bank has won the Country Award for Brunei in the annual Banker Awards, organized by The Banker magazine, UK.

In its December 2008 issue, The Banker cited reasons for choosing Baiduri Bank as the winner. “With a combination of conservative excess liquidity policy, rigorous interest rate management and enhanced risk-based pricing for retail and corporate lending, the bank was able to increase it’s net interest margin in 2007, as well as extend the bank’s net profits by over 70%, providing an increased 11.92% return on equity, the highest so far since its inception 14 years ago.“

The award ceremony took place at the Dorchester Hotel, London on 26th November 2008.  Mr Pierre Imhof, General Manager received the award on behalf of Baiduri Bank.   Also present to witness the event was Mr Ti Eng Hui, Deputy General Manager,Retail Banking and Branch Network of Baiduri Bank.

Commenting on the award, Mr Pierre Imhof, General Manager of Baiduri Bank said, “I am deeply honored to accept this prestigious award.  Winning international recognition shows that Baiduri Bank is continually improving its products and services in line with the highest international standards and provides motivation to deliver excellent financial performance year after year.  On behalf of Baiduri Bank, I would like to thank our loyal customers, our dedicated staff, our partners and associates for their continuous support which has made it possible for us to win this award again this year”.