BANK Islam Brunei Darussalam (BIBD) has been, awarded the Strongest Bank in Brunei accolade by the Asian Banker 500, based on its 2014 balance sheet ranking.
It marked the second accolade that BIBD has won from the company after winning for Best Retail Bank in Brunei earlier in the year, ac-cording to a press release.
On hand to receive the plaque during a presentation ceremony held at the Boston Convention and Exhibition Center in Boston, USA, was Hjh Noraini binti Hj Sulaiman, BIBD’s Chief Financial Officer and Deputy Managing Director.
“BIBD demonstrated the strength of its ove-rall balance sheet with improvements in its Loan to Deposit, Return on Asset and Capital Adequacy ratios,” said Foo Boon Ping, Managing Editor of The Asian Banker.
BIBD topped the ranking in Brunei this year on the back of its strong performance across the six parameters in the evaluation.
BIBD is also the only Bruneian bank to make the ranking this year and its 14th position reflects the overall strength of its balance sheet.
BIBD’s Managing Director Javed Ahmad commented, “Alhamdulilah… To be recognised as the strongest in Brunei and amongst the top in the region speaks volumes for the many efforts that have been put in place to create a safe and secure banking environment for our many customers.
“This places us in a better position to truly deliver our ‘Bruneian at Heart’ banking proposition.”
“We are constantly on the forefront of providing better and safer banking solutions to our customers, as is our duty to safeguard our customers’ assets,” he added.
“Insya Allah, we aim to continue this trend of continuous improvements in our abilities for the benefit of Brunei and its people, while at the same time maintaining our position as the leader of the overall Brunei banking segment.”
The Asian Banker 500 is the region’s most authoritative provider of strategic business intelligence to the financial services community that also conducts 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 and the evaluation is based on the belief that a strong bank demonstrates long-term profit ability from its core businesses.
The ranking is the most comprehensive annual evaluation that captures the quality and sustainability of the balance sheets of banks in the region.
It tracks the relative financial strengths of banks in response to their respective market conditions, based on a common scorecard.
It is modelled on a transparent balanced scorecard approach, weighted against six cru-cial elements – scale of operations, balance sheet growth, risk management, profitability, asset quality and liquidity.