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11th November 2016

Bandar Seri Begawan, 11 November 2016 – In celebration of Deepavali, the Festival of Lights, the Baiduri Bank Group tonight hosted a dinner for its customers and partners at the Indera Samudra Grand Hall, The Empire Hotel & Country Club, Jerudong.

In attendance as theGuest of Honour was Mr. Ravinder Nath of the Indian High-Commission to Brunei Darussalam.

The evening began with an Indian Classical Dance performed by the Nattiya Bharatha Academy Students followed by the traditional Lighting of the Lamp Ceremony by Mr. Pierre Imhof, CEO of Baiduri Bank; Mr. Ravinder Nath, the Guest of Honour; Pehin Dato Hj Mahdini, President of Brunei-India Friendship Association; Dr. Arumugan Sundrapandi, President of the Bandar Seri Begawan Indian Association; and Mr. Salimo Karim, President of the Indian Association of Belait.

In his welcoming address, Mr. Pierre Imhof outlined the major progresses and achievements of the Baiduri Bank Group throughout the year. Among them, he stated that Baiduri had set up a new unit under the Retail Banking division to cater to the increasing number of Micro, Small and Medium Enterprises (MSMEs.) “We set up the Business Banking Unit which caters to the MSMEs and complements the Bank’s Corporate Banking Department. This is in line with developing the private sector of Brunei Darussalam.”

He also went on to say, “We will continue to invest in our business as we believe in the future of Brunei’s financial industry. We have recently relocated our Tutong and Kiulap branches to much larger premises with a wider range of facilities in an effort to better serve our customers.”

He further elaborated that Baiduri has been maintaining a high level of liquidity and strong capital base, per Standard & Poor’s credit rating. “With this level of liquidity, we intend to pursue more business opportunities and finance more businesses, projects and individuals.”

Mr. Pierre Imhof ended his welcoming remarks by expressing his appreciation and thanks to the guests for their support and continued confidence over the years.

The Group has continued to receive major international banking awards, bearing testament to its good performance. This year alone, Baiduri had received three major banking awards - the Domestic Retail Bank for Brunei 2016 from the Asian Banking and Finance magazine; the Best Banking Group for Brunei 2016 from World Finance magazine and The World’s Best Emerging Markets Bank in the Asia-Pacific 2016 for Brunei by Global Finance.

Regarding the future outlook of Baiduri Bank, Mr. Pierre Imhof stated, “Though we believe the business environment will continue to face challenges, we shall continue to focus on improving our customer service capabilities and widen our product range.”

Throughout the evening, guests were treated to a variety of song and dance performances by local artists, school children and staff which culminated in a presentation of the lucky draw prizes by Mr. Pierre Imhof.

Around 500 customers and associates from the local Indian community were present at the event. The large gathering of guests included prominent Indian business leaders and professionals working in Brunei as well as loyal customers and partners of Baiduri Bank.

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