Global Finance has named Baiduri Bank as the country winner for Brunei in the Best Banks Award 2019. The award was presented to Ti Eng Hui, CEO of Baiduri Bank by Joseph Giarraputo, Publisher and Editorial Director at Global Finance, during the Global Finance’s Awards Ceremony at the National Press Club in Washington DC on 19 October 2019.
This award marks Baiduri Bank’s fifth award from Global Finance: The ‘Best Banks in Asia-Pacific’ award for Brunei in 2016, 2017, 2019 and the ‘Safest Bank in Brunei’ in 2014 and 2015.
Ti Eng Hui, “This recognition from Global Finance magazine is testament to our excellent financial performance in 2018, our resilient business model as well as our focus and attention to customers’ needs.”
He further explained, “Over the years, we have invested heavily in upgrading our branch network to offer a better experience and added convenience for our customers and the public. We are also making significant investments in a new head office building, IT infrastructure and service delivery systems and I would like to thank our customers, business partners and associates for the support they have given us.”
This is Global Finance’s 26th annual awards for the World’s Best Banks, honouring winners in 149 countries and seven global regions. Other winners in the ASEAN region include DBS (Singapore), Public Bank (Malaysia), Bank Mandiri (Indonesia), BDO Unibank (Philippines) and Bangkok Bank (Thailand).
According to the Global Finance website, prudent lending standards were one factor Global Finance took into account when selecting the World’s Best Banks. Their criteria included growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products/solutions. All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting these top banks, Global Finance considered factors that range from the quantitative objective to the informed subjective.
With the Global Finance award, Baiduri Bank has received three international banking awards in 2019. Baiduri Bank was also recognised as the “Best Banking Group” for Brunei from World Finance magazine and the “Domestic Retail Bank of the Year” for Brunei from the Asian Banking and Finance magazine.
Standard & Poor’s, an international ratings agency, reaffirmed Baiduri Bank’s credit rating of ‘BBB+/A-2’ with Stable Outlook in July 2019.