MILESTONE ACHIEVEMENT FOR BAIDURI BANK AT EUROMONEY AWARDS FOR EXCELLENCE 2022

19 August 2022

Baiduri Bank was feted at the Euromoney Awards for Excellence 2022 when it was recognised as the Best Bank in Brunei by leading UK-based financial publication Euromoney. The awards ceremony was held recently at The Londoner in London, United Kingdom.

Speaking on the occasion, Ti Eng Hui, CEO of Baiduri Bank said, “We are humbled to be named Brunei’s Best Bank by Euromoney, the leading authority for the world's banking and financial markets. This is also the first time any bank in Brunei was recognised at the prestigious Euromoney Awards for Excellence. As an inaugural country winner, we are truly honoured to represent Brunei at this highly respected global banking event.”

Also present at the awards ceremony to receive the award were Yang Amat Mulia Pg Muda Dr Abdul Fattaah, Chairman of Baiduri Bank and Dato Paduka Timothy Ong Teck Mong, member of Baiduri Bank’s board of directors.

Baiduri Bank achieved strong financial growth in 2021 despite the challenging global economic environment due to the pandemic. The Bank reported a record net profit of BND58.5 million, a 3% increase over 2020 and well above the industry average. The continuous growth lies in the Bank’s strong customer focus and ability to leverage technological innovations to meet their evolving needs.

Speaking on the award win, Ti said that the achievement was earned through the Bank’s continuous focus on achieving its strategic aims. “Among them was our aim to offer the best in-store and online customer experience which lead to premise upgrades as well as the digitalisation of services. The latter was a definite plus given the COVID-19 climate.”

Recognising the need for an accelerated shift to digital in light of the second wave of the pandemic in August 2021, the Bank intensified its efforts in consumer education using a wide range of online and offline channels. The Bank also offered alternative contactless channels for a number of services including online appointment bookings and video consultations among others.

Continuing the digital drive from a business perspective, the Bank took strides in supporting businesses and individuals affected by the outbreak through financial relief measures. “We also worked with the Ministry of Finance and Economy to facilitate donations from the public which were channelled to the official COVID-19 Relief Fund.”

Other factors leading to the win included a more robust corporate social responsibility (CSR) programme in the spirit of co-creation with the introduction of three CSR pillars – Social, Economic and Environment. Key initiatives included the launch of Mengalinga, a native mobile app to facilitate volunteerism activities in collaboration with the Ministry of Culture Youth and Sports.

Ti further elaborated, “On top of recalibrating our CSR strategy in line with our mission to enrich, engage and empower the communities we serve, these three pillars will further sharpen our focus and allow us to align more closely to our sustainability agenda, underpinned by the United Nations Sustainable Development Goals.”

Euromoney has been evaluating the world’s leading financial institutions through performance data, surveys and industry awards for 30 years. Euromoney's Awards for Excellence are the awards that matter to the banks and bankers who matter. Established in 1992, they were the first of their kind in the global banking industry. This year Euromoney received a record number of submissions from banks in its regional and country awards programme that covers more than 50 regional awards and best bank awards in 100 countries.

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

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