Baiduri Bank has been honoured with the title of ‘Best Banking Group for Brunei 2024’ by World Finance, a prestigious international financial publication based in the UK. This accolade marks the Bank’s 16th consecutive year of receiving this distinction.

Over the past five years, Baiduri Bank has demonstrated impressive financial performance, particularly amidst global economic challenges, and continues to prioritise digital transformation as a core business strategy.

World Finance commended the bank’s forward-thinking approach and innovative partnerships with fintechs to expand its digital offerings and build digital-first products. They stated, “Baiduri Bank has achieved a record year in terms of net profits and demonstrated hugely positive growth across key metrics such as capital ratios, return on assets, and return on equity.”

“Additionally, Baiduri Bank's leadership in employee well-being and CSR maintains their position as a bank that cares.”

Commenting on the award, Ti Eng Hui, Chief Executive Officer of Baiduri Bank, said, “We strive to lead by example as our business adapts to stay future-ready. As pioneers in online and mobile banking, we further advanced our digital capabilities through our partnership with Temenos, to replace our legacy systems with a new cloud-based core banking system, designed to enhance operational efficiency. Once in place, this collaboration will position Baiduri Bank as the first bank in Brunei to operate its core banking platform in the cloud under the SaaS model.”

He further attributed this recognition to the Bank’s relentless efforts to enhance the banking experience for its clients. “Last year, we introduced Baiduri Qpay, a new digital wallet, to our suite of digital payment services. Additionally, we launched the Baiduri Enterprise Hub, a co-working space for MSMEs and budding entrepreneurs, and Maribali, a first-of-its-kind e-Marketplace initiative, in collaboration with a local SME.”

Baiduri Bank also partnered with Singapore-based fintech company Finbots.ai last year, known for its AI-driven credit risk management solution, creditX. This strategic collaboration aims to modernise Baiduri Bank’s credit risk management, improving efficiency and reducing risks, particularly in retail and SME lending.

“Our digital transformation journey continues as we upgrade our digital banking services and leverage exciting developments in AI. Our priority remains customer-centric innovation. We plan to further enhance our personalised banking solutions and continue supporting local MSMEs. We are also committed to sustainability and community initiatives through our CSR activities, aligned with global sustainability goals.”

Internally, Baiduri Bank is making significant strides to ensure the organisation, especially its employees, are equipped to support its digital transformation journey. The Bank has also accelerated its investment in human resources and talent management.

“Since early 2022, we have focused on upskilling our employees through various initiatives and programmes aimed at nurturing leadership capabilities, such as our Leadership Academy and Emerging Leaders Mentoring Programme. Participants receive comprehensive development opportunities, both technical and professional, through mentorship and diverse learning experiences.”

“We extend our gratitude to our stakeholders, business partners, and customers for their trust and support over the past three decades. As we celebrate our 30th anniversary this year, we look forward to a future marked by continued innovation, sustainability, and strategic growth.”

World Finance is a quarterly print and online magazine offering comprehensive coverage and analysis of the financial industry, international business, and the global economy. Established in 2004, the magazine is aimed at finance professionals, corporate and private investors, and anyone interested in understanding the intricacies of finance in the 21st century.

For more information on Baiduri Bank’s products and services, visit www.baiduri.com, follow the Bank on social media, or call the 24-hour Customer Helpline at 244 9666.