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BAIDURI BANK AWARDED BANK OF THE YEAR BRUNEI 2008
4 December 2008
 
Mr Pierre Imhof (2nd from left), General Manager, Baiduri Bank receiving the award on behalf of the Bank at the Dorchester Hotel, London on 26 Nov 08. Also present was Mr Ti Eng Hui, Deputy General Manager, Retail Banking & Branch Network (2nd from right).

Bandar Seri Begawan, 04 December 2008.   Solid performance and growth in business volume and activities in the past year have propelled Baiduri Bank to receive the Bank of the Year award for Brunei.  This is the sixth time since 2002 Baiduri Bank has won the Country Award for Brunei in the annual Banker Awards, organized by The Banker magazine, UK.

In its December 2008 issue, The Banker cited reasons for choosing Baiduri Bank as the winner. “With a combination of conservative excess liquidity policy, rigorous interest rate management and enhanced risk-based pricing for retail and corporate lending, the bank was able to increase it’s net interest margin in 2007, as well as extend the bank’s net profits by over 70%, providing an increased 11.92% return on equity, the highest so far since its inception 14 years ago.“

The award ceremony took place at the Dorchester Hotel, London on 26th November 2008.  Mr Pierre Imhof, General Manager received the award on behalf of Baiduri Bank.   Also present to witness the event was Mr Ti Eng Hui, Deputy General Manager,Retail Banking and Branch Network of Baiduri Bank.

Commenting on the award, Mr Pierre Imhof, General Manager of Baiduri Bank said, “I am deeply honored to accept this prestigious award.  Winning international recognition shows that Baiduri Bank is continually improving its products and services in line with the highest international standards and provides motivation to deliver excellent financial performance year after year.  On behalf of Baiduri Bank, I would like to thank our loyal customers, our dedicated staff, our partners and associates for their continuous support which has made it possible for us to win this award again this year”.

 

The Banker’s ninth annual commercial banking awards provide winners in a record 148 countries along with seven regional awards.  The Global Bank of the Year went to France’s BNP Paribas.  BNP Paribas also won in the Best Bank in Western Europe and Best Bank in France categories. 

Commenting on BNP Paribas’ outstanding performance in the Banker Awards this year, Mr Imhof said, “In financial services, the quality of the financial institutions we have dealings with is very important.  BNP Paribas is an extremely well managed bank, and they deserve to win.  It is at times like this (current financial turmoil) that the strongest among banks will stand out. We congratulate BNP Paribas.  We are proud to be associated with them.”

The criteria for the assessment of the Bank of the Year Awards for the 148 countries and the regions is built around detailed questionnaires provided by banks, and this year 740 banks from 150 countries submitted questionnaires. 

The global judging team reflects not only on the latest results, growth rates and performance data over the period but also analyses all available material examining technology, acquisition and key strategic developments. The award for a single bank in each country is for the best overall performance in the previous period incorporating performance criteria, qualitative achievements and strategic initiatives.

Winners at The Banker Awards reach received a prestigious Bracken award, named after Brendan Bracken, the founding-editor of The Banker, and a certificate of merit.

 
 
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