Awards for Excellence 2022: Best bank in Brunei – Baiduri Bank
Best Bank: Baiduri Bank
Baiduri Bank is a full-service firm, considered the leading conventional player in Brunei, and enjoying a productive spell. Its net profit, at Br$58.5 million ($42.8 million), was up 3% year on year in 2021, while loans, deposits, assets and tier-1 capital all grew.
Subsidiaries Baiduri Finance and Baiduri Capital grew faster still, with net profit up 8.5% and 168% apiece.
Return on equity stands at 12.42%, the cost-to-income ratio is falling and dropped below 50% during our period of review, and the non-performing loan ratio stands at a healthy and improving 1.42%.
Since a strategic refresh in 2020, Baiduri has sought to align itself more clearly to environmental, social and governance principles. An example of the bank’s community engagement was an initiative to support local food truck vendors during Ramadan. Another was the launch of an app called Mengalinga – ‘we care’ – which connects volunteers with NGOs and government agencies that need them.