Bandar Seri Begawan, 09 December 2010.   For the seventh 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 2010 issue, The Banker described Baiduri Bank as one of Asia’s most efficient banking groups with a 14.9% boost in net profits in 2009 and Tier 1 capital up 18.4% in the same period. Besides its financial performance, among other reasons cited by The Banker for selecting Baiduri Bank were its strategic focus on enhancing shareholder value and the use of strategic positioning and partnerships with international brands to build global presence.

The award ceremony took place at the Intercontinental Hotel, London on 2nd December 2010.  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 said, “I am deeply honored to accept this prestigious award.  Winning this world famous and longest running international banking title bears testament to the strong management, sound business model and prudent risk approach employed by Baiduri Bank.  I would like to thank our customers, employees and shareholders for their confidence and support without which we would not have progressed to become the award-winning bank we are today”.

Currently in their 11th year, The Banker awards attracted interest from all over the world, with awards for the best bank given in 149 countries – the highest number of countries in the award’s history.  Banks must submit a formal entry and provide the judges with key data and information.

The global judging team reflects not only on the latest results, growth rates and performance data over the period but also analyses all available material examining technology, acquisition and key strategic developments. The award for a single bank in each country is for the best overall performance in the previous period incorporating performance criteria, qualitative achievements and strategic initiatives.

Baiduri Bank’s strong desire and willingness to continually reassess organizational goals, realign priorities, streamline processes to further improve customer services and their responsiveness to market changes have definitely contributed to Baiduri Bank’s success in winning the Bank of the Year award for Brunei again this year. 

Winners at The Banker Awards each received a prestigious Bracken award, named after Brendan Bracken, the founding-editor of The Banker, and a certificate of merit.