In June 2022, Baiduri Bank attained yet another significant milestone when Standard & Poor’s (S&P) Global Rating upgraded the Bank’s long-term credit rating from BBB+ to A- in its latest credit rating report resulting in an A-/A-2 with Stable Outlook rating. This marks the first time the Bank has achieved an A- rating since the first rating in 2014.

According to S&P, Baiduri Bank’s credit rating was upgraded to reflect their expectation that the Bank will maintain good capital buffers as a result of prudent capital management. Strong profitability and profit retention were also cited as key reasons.

Today, at the Baiduri Community Space, Baiduri Bank Headquarters, the Bank held a press conference with the various media publications in Brunei.

Present at the press conference were Ti Eng Hui, Chief Executive Officer; Pg Azaleen PD Hj Mustapha, Deputy Chief Executive Officer, Business Development; Manuel Bulens, Deputy Chief Executive Officer, Compliance, Corporate Governance and Legal Advisory; as well as Ak Nor Muhammad Nizam Pg Hj Tengah, Head of Group Treasury and Institutional Banking.

During the press conference, the panel provided an explanation on the process, the definitions of key terms and the impact that credit ratings have on an organisation and the positive effect on the nation’s banking and financial industry, and the economy as a whole.

Speaking on the reasons why the Bank decided to go through the process of attaining a credit rating through Standard & Poor’s almost a decade ago, Ti Eng Hui said, “As an S&P credit rating is a common and transparent global standard, it allows us to benchmark against our international peers, identify areas for continuous improvement and improve access to international financial markets.”

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.