BAIDURI BANK ACHIEVES 12-YEAR WINNING STREAK AT ASIAN BANKING & FINANCE RETAIL BANKING AWARDS

05 July 2024

For the 12th consecutive year, Baiduri Bank’s stellar performance and continuous dedication to service excellence has won it the prestigious title of ‘Domestic Retail Bank of the Year’ for Brunei. The eminent award, presented by Asian Banking & Finance (ABF) at their Retail Banking Awards 2024, recognises exceptional industry leaders who have introduced cutting-edge products, services, and solutions that positively impact their customers.

Manuel Bulens, Deputy Chief Executive Officer, Consumer Banking, and Lim Kian Chiong, Head of Retail Banking, Baiduri Bank attended the awards ceremony held at Marina Bay Sands, Singapore.

In a citation, ABF noted that Baiduri Bank’s recognition this year is a testament to its extraordinary performance in 2023, achieved through dedicated efforts across key divisions which significantly bolstered the bank's deposits and overall balance sheet strength. In the past year, net profit surged by 37.55%, positively impacting the bank's capital ratios, return on assets, and return on equity. Total assets witnessed impressive growth of 11.50% during the same period.

The award citation also highlighted Baiduri Bank’s modernisation efforts, particularly in credit risk management through artificial intelligence. The bank’s collaboration with Finbots.ai to adopt an AI-driven credit risk management solution, creditX, marks a strategic move to enhance efficiency and reduce risks in retail and SME lending. This initiative signifies Baiduri Bank's commitment to technological advancement and improved customer experience in credit services.

Baiduri Bank is also making strides in digital innovation through its on-going project to transition its core banking platform to the cloud under the SaaS model through a partnership with Temenos. This project positions Baiduri Bank to be the first in Brunei to adopt such a model, demonstrating its commitment to staying at the forefront of banking technology.

The launch of Baiduri QPay is also a highlight, showcasing the bank’s continuous efforts to deliver digital-first experiences. This digital wallet allows UnionPay Debit Cardholders to scan and pay at participating outlets both locally and abroad, aligning with Brunei’s Digital Economy Masterplan 2025.

Commenting on the award, Manuel Bulens, Deputy Chief Executive Officer, Consumer Banking, said, “We are truly honoured to once again be recognised by Asian Banking & Finance. This award is a result of the unwavering commitment of our staff to continually enhance our services and deliver greater value to our customers and community. Our achievements the past year highlight our dedication to innovative solutions and strong financial performance. Our heartfelt thanks for their continued trust and support.”

Since 2006, the awards programme has been honouring outstanding banks who have proven to be industry game changers in the banking and finance industry in Asia.

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Important update
19 September 2023

We would like to inform you that with effect from 31 October 2023, Business i-Banking service will no longer be operational, and this will be replaced with our new Baiduri b.Digital Business service.

If your company has not transitioned to b.Digital Business, please ensure that every existing user provides the following by 8 October 2023 through the Business i-Banking Inbox:

User’s full name
User’s valid Identification Card (IC) or Passport
User’s mobile number
User's company assigned email address (General company email is not accepted e.g., [email protected])

Alternatively, you can complete the b.Digital Business Amendment Form and submit the form(s) directly to Baiduri Digital Hub, Ground Level, Baiduri Bank Headquarters.

Every user will receive a notification email at their registered email address, once they have been migrated and activated on the b.Digital Business service.

Companies who have not moved to b.Digital Business after 31 October 2023 can re-apply as a new subscriber to the b.Digital Business service. This will require additional documentations to be submitted as part of the application. Refer “Required Documents” here.

Important notice: Our Business i-Banking service will be deactivated soon. To ensure continued access and a smooth transition to the new Baiduri b.Digital Business, please provide your full name, IC, email address and mobile number via Business i-Banking Inbox. If we do not receive updated details from all authorised users, your company will not be migrated to the new platform and a fresh application will be required. For assistance, contact us at [email protected] or call 2268 637/8/9 during business hours. Thank you for your cooperation.

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