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BAIDURI BANK ANNOUNCES EXCELLENT INTERIM RESULTS
19 June 2003

Baiduri Bank, a leading Brunei financial services group in which BNP Paribas, the European banking giant has a shareholding, announced that it had achieved excellent interim results. The

According to the General Manager of the Bank, Mr Pierre Imhof who is seconded from BNP Paribas, “In the first five months of this year, the Bank’s total income increased by 25% while operating profit surged to BND15.8 million, more than double that achieved for the same period last year. I expect the Bank to achieve a significantly higher net profit for the current year.

” Commenting on the Bank’s performance, Mr Claude de Kemoularia, a senior member of the board of directors said, “ These excellent results reflect the quality of the bank’s management and the support received from the local community and the shareholders of the bank.” He added that the Bank would be making regular announcements as to important developments as part of its continuing outreach to the local community.

Baiduri Bank also announced a significant investment of BND5 million for state-of-the-art IT system in Baiduri Bank. “We have made this investment as part of our commitment towards delivering to our customers, the highest standards of service,” said Mr Imhof.

Attending the Baiduri Bank’s Board of Directors Meeting were His Royal Highness Pengiran Muda Abdul Qawi, Dato Paduka Haji Hazair bin Haji Abdullah, Mr Claude de Kemoularia, Mr Timothy Ong and Mr Francis Caze.

Since the Bank commenced operations nine years ago, it has grown rapidly as a local financial institution with global expertise. The Bank’s shareholders which have remained unchanged since its inception are Baiduri Holdings Bhd, BNP Paribas, Royal Brunei Airlines and Royal Brunei Technical Services.

 
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