Bank Islam Brunei Darussalam (BIBD) Group held its Annual General Meeting (AGM) 2024 on Friday, marking another year of outstanding performance. Despite global economic uncertainties, the Group achieved solid financial success, underscoring its resilience, adaptability, and continued commitment to supporting Brunei’s economic growth.
Minister of Home Affairs and Chairman of BIBD Dato Seri Setia Awang Haji Ahmaddin bin Haji Abdul Rahman, emphasised the Bank’s accomplishments in navigating a dynamic economic landscape. “Even amid persistent challenges, BIBD Group has performed well, securing a net profit of BND178.7 million and net revenue of BND376.5 million in 2023. These achievements reflect our prudent risk management strategies and strong governance practices as well as the steadfast dedication of our team.”
The BIBD Group’s financial stability remains robust, with a capital adequacy ratio (CAR)
of 18.5 per cent in 2023, well above the 12.5 per cent regulatory minimum.
Total assets amounted to BND10.4 billion, consolidating BIBD’s position in Brunei’s retail
and corporate banking sectors. The Group’s Return on Equity (ROE) of 13.1 per cent highlights its dedication to providing returns and value to its shareholders.
During the meeting, shareholders reviewed the financial statements for the year ended
2023 and approved a final dividend of BND17.40 cents (0.174) per ordinary share,
reflecting the Bank’s commitment to providing returns and value for its valued
shareholders.
Reflecting on 2023, in which BIBD celebrated its 30th anniversary, Dato Seri Setia Awang Haji Ahmaddin highlighted that the milestone year not only showcased BIBD’s achievements in bolstering economic stability and supporting Brunei Vision 2035, but also marked significant progress in its digital transformation, exemplified by the launch of the Olive mobile application for BIBD’s subsidiary, BIBD At Tamwil. BIBD further advanced its
sustainability agenda through initiatives like tree-planting campaigns and strategic partnerships aimed at promoting environmental stewardship, underscoring its enduring commitment to building a sustainable future for Brunei.
Managing Director and CEO, Awang Junaidi bin Haji Masri, praised the team’s efforts in
achieving these successes. He also extended his gratitude to BIBD’s key stakeholders
such as the Brunei Darussalam Central Bank, customers, clients, and shareholders, for
their unwavering support, which has been instrumental in BIBD’s ongoing success. “The
dedication of our staff, combined with our strategic agility, enabled us to deliver outstanding results. We remain focused on supporting our customers’ financial wellbeing and contributing to Brunei’s prosperity.”
The AGM also reaffirmed BIBD’s role as a trusted partner in alignment with Brunei Vision 2035, reinforcing its commitment to supporting the economy, furthering sustainability and giving back to the community.
