Baiduri Bank was honoured with the title of ‘Best Banking Group for Brunei 2024’ by World Finance, a prestigious international financial publication based in the United Kingdom, marking the bank’s 16th consecutive year of receiving the distinction, the bank said in a press statement.
“Baiduri Bank has achieved a record year in terms of net profits and demonstrated hugely positive growth across key metrics such as capital ratios, return on assets, and return on equity,” World Finance said.
“Additionally, Baiduri Bank’s leadership in employee well-being and CSR maintains their position as a bank that cares.”
Baiduri Bank Chief Executive Officer Ti Eng Hui said, “We strive to lead by example as our business adapts to stay future-ready. As pioneers in online and mobile banking, we further advanced our digital capabilities through our partnership with Temenos, to replace our legacy systems with a new cloud-based core banking system, designed to enhance operational efficiency.
“Once in place, this collaboration will position Baiduri Bank as the first bank in Brunei to operate its core banking platform in the cloud under the software as a service model.”
He also attributed this recognition to the bank’s relentless efforts to enhance the banking experience for its clients.
“Last year, we introduced Baiduri Qpay, a new digital wallet, to our suite of digital payment services. Additionally, we launched the Baiduri Enterprise Hub, a co-working space for micro, small and medium enterprises (MSMEs) and budding entrepreneurs, and Maribali, a first-of-its-kind e-Marketplace initiative, in collaboration with a local SME,” he said.
Baiduri Bank also partnered with Singapore-based fintech company Finbots.ai last year, known for its artificial intelligence-driven credit risk management solution, creditX which aims to modernise Baiduri Bank’s credit risk management, improving efficiency and reducing risks, particularly in retail and SME lending.“Internally, Baiduri Bank is making significant strides to ensure the organisation, especially its employees, are equipped to support its digital transformation journey.
The bank has also accelerated its investment in human resources and talent management,” the bank said.
“Since early 2022, we have focused on upskilling our employees through various initiatives and programmes aimed at nurturing leadership capabilities, such as our Leadership Academy and Emerging Leaders Mentoring Programme. Participants receive comprehensive development opportunities, both technical and professional, through mentorship and diverse learning experiences,” it added.
World Finance is a quarterly print and online magazine offering comprehensive coverage and analysis of the financial industry, international business, and the global economy.
Established in 2004, the magazine is aimed at finance professionals, corporate and private investors, and anyone interested in understanding the intricacies of finance in the 21st Century.
