STANDARD & POOR’S REAFFIRMS CREDIT RATING OF BAIDURI BANK WITH BBB+/A-2 WITH STABLE OUTLOOK

28 August 2020

Bandar Seri Begawan, 28 August 2020 –

Demonstrating its resilience in the face of a global pandemic, leading international ratings agency Standard & Poor’s reaffirmed its credit rating of BBB+/A-2 with stable outlook for Baiduri Bank, placing the Bank in the company of strong regional and global banks.

The report provided by Standard & Poor’s stated that the stable outlook on Baiduri Bank reflects their expectation that the Bank “will maintain its high systemic importance in Brunei”. The outlook also reflects their view that Baiduri Bank’s financial profile “will remain steady due to their adequate internal capital accruals amid low- to mid-single digit growth” over the next 18-24 months.

It also further stated that the rating reflects the Bank’s strong market share and diversified business in Brunei with a dominant market share of loans and deposits. The Bank’s liquidity and capital ratios are also stronger than those of several global peers and have witnessed a significant improvement compared to 2018.

Speaking on the achievement, Mr Ti Eng Hui, the CEO of Baiduri Bank said, “We are very pleased that Standard & Poor’s have reaffirmed our BBB+/A-2 with stable outlook rating. In the face of slow economic growth, a very low interest rate environment and a global pandemic, this reaffirmed rating shows resilience in our three core businesses and the strength of our balance sheet and capital ratios.”

Standard & Poor’s (S&P) are the world’s leading provider of credit ratings. With more than 1 million credit ratings on government, corporate, financial sector and structured finance entities and securities, S&P ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence.

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Important notice for Business i-Banking users

IMPORTANT NOTICE FOR BUSINESS I-BANKING USERS

A new change is coming

We will be introducing a new online business banking service, bringing new and improved features to enhance your experience with us. The new service will be rolled out to all customers in phases and our existing Baiduri Business i-Banking service will remain available to you, until such time you have been successfully migrated to the new service.

What you need to do now

To minimise any disruptions to the new service rollout, it is important that we have a record of the most current and valid details of all your existing Baiduri Business i-Banking user(s). This information is mandatory to allow your existing user(s) to proceed with first-time login to the new online business banking service.

Please take note that the email address and mobile number will also be used for user verification and activation. Hence it is important to provide emails and mobile numbers intended for company or business matters.

Every existing user must individually perform the steps listed below to provide the required information to us:

Login to Baiduri Business i-Banking
Click on the Inbox function on the top left corner of the screen
Click on ‘Send New Mail’
Select category option ‘Others’
Enter subject heading ‘Update My Details’
Provide your full name, IC number, mobile number and email address
Click ‘Submit’

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*Note: We are currently rolling out our new online business banking service, Baiduri b.Digital Business to existing customers in phases. For users who have not yet received their new login credentials, please continue to access the Business i-Banking service for your online banking needs. For more information, please contact us at [email protected] or call 2268 637/8/9 during business hours.

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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