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20th May 2011

Bandar Seri Begawan, 20th May 2011. In celebration their winning of the “Company of the Decade” award from World Finance, Baiduri Bank today hosted a cocktail reception at Indera Keyangan Ballroom, Empire Hotel and Country Club.

Present at the event were around 250 guests comprising senior government officials, prominent business leaders, professionals, business partners, card merchants and clients of Baiduri Bank Group.

Mr. Pierre Imhof, General Manager of Baiduri Bank, in his speech, thanked guests for their confidence and support which had led to the Bank winning the award, adding, “We are proud to be selected for this award.  This puts us in the same league as 49 other leading international brands like Apple, Toyota, Samsung, Royal Bank of Canada and CIMB Bank that have also received this award”. 

Looking back at Baiduri Bank’s past decade, Mr Imhof said, “10 years ago in 2001, our branch network consisted of only 6 Baiduri Bank branches, 2 Baiduri Finance Branches, 6 ATM locations and a staff force of 195.  Today, we have 12 Baiduri Bank branches, 2 Baiduri Finance branches and 29 ATM locations.  Our staff force is more than 500, ranking us among the biggest employers in the private sector in Brunei.  99% of our staff members are Brunei citizens or permanent residents”.

“Baiduri Bank Group’s profit after tax grew ten-fold to BND40 million from 2001 to 2010, while total assets grew 94% to BND 2.6 billion, making Baiduri Bank Group one of the leading and largest financial services groups in the country.  Return on equity increased 65% to 19.8% and return on assets increased 114% to 1.5%, a remarkable achievement indeed by both local and international standards”, remarked Mr Imhof.

According to World Finance magazine in their April 2011 issue, the “Company of the Decade” awards represent the supreme accolade for companies that have performed exceptionally well and proven themselves as dynamic forces in their respective countries over the 10 year period from 2001 till 2010.  Not only has the operations of these businesses been of superlative quality, but their reputation for excellence has brought admiration from their respective industries and made them an enviable employer”. 

Baiduri Bank was selected by World Finance through an independent world study, with careful scrutiny of the company’s performance for the past decade. Taking into account how tumultuous the past decade has been for businesses worldwide, the magazine applauded the company’s adherence to a sustainable model of investment, intimate knowledge of the market, tactful leadership, and innovative use of technology to deliver products to customers more effectively.

Throughout the event, senior management and executives of the Baiduri Bank Group mingled with guests and personally received words of congratulations on winning the award. Besides each taking home a limited edition crystal paper weight specially made for the occasion, 10 lucky guests also away away with lucky draw prizes which consisted of the latest electronic gadgets such as Apple iPhone 4, Apple iPad 2 and luxury Mont Blanc pens, represent each year of success for the Bank.

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