Awards for Excellence 2023: Best bank in Brunei – Baiduri Bank
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Awards for Excellence 2023: Best bank in Brunei – Baiduri Bank



Baiduri Bank remains the standout bank in Brunei. This is not just down to its solid financial growth but also because of its commitment to digitalization, which has enhanced its capabilities in everything from data analytics to customer service.

The transformation began in 2020 but received fresh impetus last year. In September, Baiduri relaunched its digital banking service for businesses with a host of new features and followed it up with enhancements to its personal banking app. It also rolled out a digital wallet called Baiduri Qpay, which has gained traction among customers.

Crucially, chief executive Ti Eng Hui has been unafraid to launch disruption from within. In November, the bank signed an agreement with Temenos to run its core banking service on a software-as-a-service (SaaS) platform in the cloud. The first bank in Brunei to do so.

The replacement of legacy systems is already underway, with phase one of the migration project beginning in February this year.

Technological advancement is central to Baiduri’s business strategy. Robotic process automation of existing workflows and artificial intelligence chatbots are increasingly important in the bank.

Net profits at Baiduri grew 12.1% year on year to Br$65.6 million ($49 million) in 2022, while return on equity rose to 12.77%.

The non-performing loan ratio ticked up to 2.72% from 1.42% in 2021 as the travel industry remained under pressure post-Covid, impacting many corporate clients. But the bank is tackling that by diversifying its income streams to create a more resilient loan book in the future.

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