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19th September 2013

Bandar Seri Begawan, 19 September 2013 – In the latest ranking of the "Strongest Bank Balance Sheets" conducted by The Asian Banker, Baiduri Bank has been placed top in "Bank Balance Sheet Strength" in Brunei for 2012 - 2013 and in position 97 among banks in the Asia Pacific region.

Mr Pierre Imhof, CEO of Baiduri Bank received the recognition in the form of a plaque from Mr Foo Boon Ping, Managing Editor of The Asian Banker and Ms Janet Lewis, Vice President of Global Sales, Oracle Financial Services at SIBOS, the annual meeting for SWIFT, the global payments provider held in Dubai yesterday. The event was attended by about 200 senior executives from around the world.

"We are extremely honored to have received such an important recognition – The Strongest Bank Balance Sheet in Brunei 2013", said Mr Imhof after the award ceremony. "This recognition reflects the strong financial strength of the bank from the sustainable recurring income of our business model. It is an endorsement of the excellent efforts that we have put in to strengthen our balance sheet over the years", he added.

The Asian Banker Strongest Bank Balance Sheets is an annual assessment of the financial and business performance of the commercial banking industry in the Asia Pacific region. The assessment ranks the top performing banks in each country by strength, an evaluation that is based on a belief that a strong bank demonstrates long-term profitability from its core businesses.

The ranking is based on a very detailed and transparent scorecard that ranks commercial banks on six areas of financial performance, namely: the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity. The evaluation is conducted between March and August each year when banks' annual financial results become available.

Overall, Hong Kong's Hang Seng Bank possessed the strongest bank balance sheet in the Asia Pacific region, followed by Agricultural Bank of China and Industrial and Commercial Bank of China (Macau).

In the "Strongest Bank Balance Sheets by Country" category, Overseas-Chinese Banking Corporation came out tops for Singapore, Maybank for Malaysia, Bangkok Bank for Thailand, Bank Rakyat Indonesia for Indonesia, and Metropolitan Bank & Trust for Philippines.

This latest recognition is the third international banking award received by Baiduri Bank this year. In July, the Bank was awarded "Domestic Retail Bank for Brunei 2013" by The Asian Banking and Finance Magazine, while last week, World Finance Magazine, UK awarded Baiduri Bank Group the "Best Banking Group 2013" for Brunei for the fifth time.

Mr Pierre Imhof, CEO of Baiduri Bank receiving the plaque for the "Strongest Bank Balance Sheet Brunei 2013" from Mr Foo Boon Ping, Managing Editor of The Asian Banker and Ms Janet Lewis, Vice President of Global Sales, Oracle Financial Services at a ceremony held in Dubai on 17th September 2013.
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