Baiduri Bank has won the title of ‘Domestic Retail Bank of the Year’ for Brunei, presented by Asian Banking and Finance (ABF) at their Retail Banking Awards 2024 for the 12th consecutive year.
Baiduri Bank Deputy Chief Executive Officer of Consumer Banking Manuel Bulens and Baiduri Bank Head of Retail Banking Lim Kian Chiong attended the awards ceremony at Marina Bay Sands, Singapore.
In a citation, ABF noted that Baiduri Bank’s recognition this year is a testament to its performance in 2023. In the past year, net profit surged by 37.55 per cent, positively impacting the bank’s capital ratios, return on assets, and return on equity. Total assets witnessed an impressive growth of 11.50 per cent during the same period.
The award citation also highlighted Baiduri Bank’s modernisation efforts, particularly in credit risk management through artificial intelligence (AI). The bank’s collaboration with Finbots.ai to adopt an AI-driven credit risk management solution, creditX, marks a strategic move to enhance efficiency and reduce risks in retail and SME lending.
Commenting on the award, Bulens said, “We are truly honoured to once again be recognised by ABF. This award is a result of the unwavering commitment of our staff to continually enhance our services and deliver greater value to our customers and community.
“Our achievements the past year highlight our dedication to innovative solutions and strong financial performance. Our heartfelt thanks for their continued trust and support.”
