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31st March 2012

Bandar Seri Begawan, 31 March 2012 – Baiduri Bank was presented with the Best Retail Bank in Brunei Award at the 11th International Excellence in Retail Financial Services Award Ceremony which took place at the Marina Bay Sands Hotel, Singapore on 23rd March 2012, organised by The Asian Banker. Mr Ti Eng Hui, Deputy General Manager Retail Banking and Branch Network of Baiduri Bank received the award on behalf of the Bank.

The Excellence in Retail Services Programme is to recognise the pursuit of excellence amongst retail financial institutions in the region. Winners of the Excellence in Retail Financial Services demonstrated the outstanding annual performance of the retail banking unit, sustainability as a franchise over a long period of time and across economic cycles, a well-defined franchise in the chosen marketplace, transparency and accountability of business model, clear sales and execution skills at the product level, rigorous risk management capabilities, superior business and operational processes and technology, strong penetration and efficiency of distribution channels, focus on developing human resources to support the bank’s strategy and ethical banking.

Mr Pierre Imhof, CEO said "We are extremely delighted and honoured to win this award considered as the most prestigious organised in the region. It is a reflection of our continuous efforts and commitment to meet the financial needs of our expanding customer base and offer a diverse range of delivery channels to suit our customer preference. We have a consistent and sustainable business strategy with total focus on the Brunei market and we are ready to do more to help and assist our customers to achieve their individual and business goals."

The awards programme, administered by The Asian Banker, reviewed 160 banks from 30 countries through a stringent evaluation process and balanced scorecard.  Since its conception in 2002, ten years ago, the focus of the programme has been built around the premise of identifying banks that demonstrate a long term sustainable franchise, based on continuously improving their business processes and leading consistent and profitable performance.  The award recognises financial institutions for their vision to launch innovative products and execute programs that can make a real impact to its customers. 

Baiduri Bank was honoured as the winner for Best Retail Bank in Brunei by The Asian Banker.  Some of the key indicators evaluated within the Bank included; outstanding annual performance of the retail banking unit,  transparency and accountability of the business model, rigorous risk management capabilities and clear ethical guidelines stating how business is conducted with customers.    

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community.  And this programme is an annual tribute to learning, benchmarking, consulting and celebrating the best retail banks across the regions.         

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