Baiduri Bank Of The Year
By Kartika Rahman

Bandar Seri Begawan - Baiduri Bank has been named `Bank of The Year Brunei' Country Awards for 2006 by The Banker magazine, a trusted source of global financial intelligence since 1926.

This is the fourth time Baiduri Bank was conferred this prestigious accolade in five years.

In recognition of its achievement, a Bracken award was presented to the Bank during an award ceremony at The Dorchester Hotel, Park Lane, London, on November 30, 2006. Some 149 winners from 137 countries, representing the cream of the global banking community and best achievers in the industry, attended the award ceremony. Pierre lmhof, General Manager of Baiduri Bank, received the award trophy from Stephen Timewell, Editor-in-Chief of The Banker magazine.

The Bank of The Year country awards acknowledge banks for the best overall performance in their respective countries.

Its global editorial team selected the winners based on an assessment of the latest results, growth rates and performance data over the previous period plus their technological and strategic developments.

This year, 419 entries were received from commercial banks in 137 countries. According to The Banker magazine, Baiduri Bank won the `Bank of the Year Brunei' award for its good achievements, improved RoE (Return on Expenditures) and successful launching of new retail loan products. It was also awarded a logo for Brunei Bank of the Year 2006.

In The Banker's December 2006 issue, the publication lauded Baiduri Bank for its initiatives that brought "phenomenal results, with mortgage loan sales doubling in just one year". The magazine also noted the bank's impressive results in the card business through the acquisition of the American Express franchise in Brunei, which significantly increased its merchant base and gave Baiduri Bank the opportunity to further strengthen corporate banking relationships with major merchants in the country.

"We are extremely pleased to be selected as the Bank of the Year Brunei for the fourth time," said Imhof. "This accolade is a testimony of our commitment to continuous improvement in all aspects of our operations, our customer focus and our innovative approach to business development, which has enabled us to deliver strong financial performance consistently. This prestigious award is also a tribute to the professionalism, dedication and teamwork of our employees, who strive to provide the best products and services to our customers.

"Moving forward, we will continue to build on our business success by leveraging on advanced technology, expanding our network of strategic partnerships with leading international financial institutions and specialists, as well as enhancing our competitive strengths in wealth management," he added.

Winners in The Banker Awards received a prestigious Bracken award, named after Brendan Bracken, the founding editor of The Banker in 1926 and the chairman of the modern-day Financial Times from 1945 to 1958, who epitomises the global spirit, vision and integrity of The Banker and the FT Group.-- Courtesy of Borneo Bulletin

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