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28 June 2021

Standard & Poor’s (S&P) Global Ratings revised the outlook on its long-term rating on Baiduri Bank to ‘positive’ from ‘stable’ in its latest credit rating report resulting in an improved credit rating of BBB+/A-2 with positive outlook from BBB+/A-2 with stable outlook for the Bank. This new rating places Baiduri Bank in the company of leading regional banks.

According to the report, this revision reflects the rating agency’s expectation that Baiduri Bank “will sustainably maintain its capital buffers over the next 12 to 18 months thanks to adequate capital management”, leading to moderate credit growth, satisfactory profitability, and profit retention over the period. The positive outlook also indicates that S&P could raise its ratings on Baiduri Bank in the next 12-18 months if the Bank sustains its capital buffers.

S&P anticipates that the Bank will see credit growth of 3% to 5%, with “bulk of the growth generated from wholesale customers as the government looks to boost the economy and support local firms through contracts from government-linked companies, foreign direct investment projects, the oil and gas sector, and infrastructure development.”

According to S&P’s forecasts, Brunei's economic growth will accelerate to above 3% in the next two years, supported by stronger energy prices, recovering external demand, the country's continued success in controlling the COVID-19 pandemic, and sustained growth in the petrochemical sector.

Mr Ti Eng Hui, CEO of Baiduri Bank said, “While the economy is experiencing positive growth amid the improving COVID-19 situation in the country, this revised rating is a testament of our strength, resilience, and ability to adapt quickly to evolving economic conditions. It also reflects our strong capital position and robust balance sheet management.”

He further elaborated that the revised rating is a positive reflection of the Bank’s solid performance over the last twelve months, underpinned by a strong business model focusing on its core businesses and sustainable growth.

Standard & Poor’s 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 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.

To strengthen our online security measures, effective 8 January 2024, we will introduce the cooling period feature on our Baiduri b.Digital Personal web and mobile app to prevent unauthorised access.

Click here for more information.

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