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17 December 2007
Bandar Seri Begawan, Monday, 17th December 2007.   For the fifth time in six years, Baiduri Bank has won the Country Award for Brunei in the annual Banker Awards, organized by The Banker magazine, UK.

The award for the top bank in each country is for the best overall performance in the previous period incorporating performance criteria, qualitative achievements and strategic initiatives.

Winners in The Banker Awards receive a prestigious Bracken award, named after Brendan Bracken, the founding editor of The Banker in 1926 and the chairman of the modern-day Financial Times from 1945 to 1958.  Brendan Bracken epitomizes the global spirit, vision and integrity of The Banker and the Financial Times Group.  Winning the Bracken is a fitting accolade for the performances of the world’s top financial institutions.

The Banker magazine, in its December 2007 issue, lauded Baiduri Bank as Brunei’s most dynamic financial institution.  “Few banks can lay claim to an 81% increase in net profits in one financial year, but Baiduri Bank can, standing out as Brunei’s most dynamic financial institution.  It also achieved a 32.27% growth in total assets in the same period.”

Mr Pierre Imhof, General Manager of Baiduri Bank said, “We are extremely pleased to be selected once again as the Bank of the Year for Brunei for 2007.”

Asked what he thinks are the reasons behind Baiduri Bank’s success, Mr Imhof said, “Superior local knowledge, speed to market and ability to harness new technology have contributed to Baiduri Bank’s continued success.”

“Close integration of our core banking system, multi-channel delivery strategy, distribution networks and support services have enabled Baiduri Bank to develop strong synergies across the various business units and its subsidiary, Baiduri Finance, allowing Baiduri Bank Group to meet our client’s financial needs”.

“I attribute this success to a strong management team, complemented by a committed workforce and a lean organizational structure that has effectively fostered this growth.  But above every thing else, it is our customers who have made us who we are today, for without their support, we would not have progressed to become an award-winning bank.”

Thanking customers, Mr Imhof said, “We thank our valued customers for placing their trust in us and for their support through the years.  Baiduri Bank is committed to helping customers achieve their financial goals through innovative products and services.”

The award ceremony took place at the Dorchester Hotel, London on 28th November 2007.  Mr Ti Eng Hui, Deputy General Manager, Retail Banking and Branch Network of Baiduri Bank, received the award on behalf of the Bank.

The criteria for assessment of the Bank of the Year awards is built around detailed questionnaires provided by the banks, and this year a record 457 entries were received from commercial banks in 137 countries.  The global judging teams reflects not only on the latest results, growth rates and performance data over the previous period contained in the questionnaires but also analyses all available material, examining technology, acquisition and key strategic developments.
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