Baiduri Bank is a Brunei

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

that is one of the major providers of financial services in

Brunei Brunei, officially Brunei Darussalam, is a country in Southeast Asia, situated on the northern coast of the island of Borneo. Apart from its coastline on the South China Sea, it is completely surrounded by the Malaysian state of Sarawak, with ...

. Baiduri Bank caters to retail, MSMEs, corporate, and institutional customers. The principal stakeholder of Baiduri Holdings, the entity that owns 60% of Baiduri Bank, is Pengiran Anak Hajah Zariah, the

princess consort Princess consort is an official title or an informal designation that is normally accorded to the wife of a sovereign prince. The title may be used for the wife of a king if the more usual designation of queen consort is not used. More informal ...

Prince Mohamed Bolkiah Mohamed Bolkiah ibni Omar Ali Saifuddien III (born 27 August 1947) is a member of the House of Bolkiah, royal family of Brunei. He is the second son of Omar Ali Saifuddien III, the 28th Sultan of Brunei, and Raja Isteri (Queen) Queen Damit of ...

. , Baiduri had 11 branches, two branches for its finance division, and 33 ATMs. Additionally, the bank provided two versions of its

online banking Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institut ...

service—one for personal and one for commercial usage. A mobile app version of Baiduri b.Digital Personal is also accessible. Darussalam Assets and Baiduri Holdings are the Bank's shareholders. Since its founding in 1996, Baiduri Finance—a wholly owned subsidiary of Baiduri Bank—has grown to become the nation's top auto lender. Another wholly owned subsidiary, Baiduri Capital, began operations in June 2015 and provides

online trading In finance, an electronic trading platform, also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products ...

platform services for

equities trading A stock trader or equity trader or share trader, also called a stock investor, is a person or company involved in trading equity securities and attempting to profit from the purchase and sale of those securities. Stock traders may be an inve ...

. Access to the

NASDAQ The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

HKEx Hong Kong Exchanges and Clearing Limited (HKEX; ) operates a range of equity, commodity, fixed income and currency markets through its wholly owned subsidiaries The Stock Exchange of Hong Kong Limited (SEHK), Hong Kong Futures Exchange Limi ...

BURSA Malaysia Bursa Malaysia (English: Malaysian Bourses or Malaysia Exchange) is the stock exchange in Malaysia. It is one of the largest bourses in ASEAN. It is based in Kuala Lumpur and was previously known as the Kuala Lumpur Stock Exchange (KLSE). It p ...

, China A-shares, and other foreign stock exchanges is now possible.

History

The bank started operating on 13 January 1993, and adheres to

Islamic banking Islamic banking, Islamic finance ( ''masrifiyya 'islamia''), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some ...

standards. Baiduri Bank was founded in 1994 as a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

that served corporate clients. Initially, the

royal family A royal family is the immediate family of monarchs and sometimes their extended family. The term imperial family appropriately describes the family of an emperor or empress, and the term papal family describes the family of a pope, while th ...

and

Royal Brunei Airlines Royal Brunei Airlines Sdn Bhd (RB) is the flag carrier of Brunei, headquartered in the RB Campus in Bandar Seri Begawan. It is wholly owned by the Government of Brunei. Its hub is Brunei International Airport in Berakas, just to the north of B ...

(RBA) were the main owners of the privately held Baiduri Bank. In 1994, a deal has been made by the French bank

BNP Paribas BNP Paribas (; sometimes referred to as BNPP or BNP) is a French multinational universal bank and financial services holding company headquartered in Paris. It was founded in 2000 from the merger of two of France's foremost financial instituti ...

to purchase a 15% stake in Baiduri Bank Berhad. The fully owned subsidiary of Baiduri Bank, Baiduri Finance, obtained ISO9001:2015 certification, which is a mark of a quality management system. The bank was the nation's first

debit card A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either ...

issuer in 2001. In addition to becoming the first bank in Brunei to provide

PIN A pin is a device, typically pointed, used for fastening objects or fabrics together. Pins can have the following sorts of body: *a shaft of a rigid inflexible material meant to be inserted in a slot, groove, or hole (as with pivots, hinges, an ...

-based security, Baiduri introduced the

UnionPay UnionPay (), also known as China UnionPay () or by its abbreviation, CUP or UPI internationally, is a Chinese state-owned financial services corporation headquartered in Shanghai, China. It provides bank card services and a major card sch ...

debit card in 2010. Baiduri established its Business Hub in 2015, which connected to small- and non-borrowing accounts to supplement the corporate banking division. Additionally, under the BSP Credit Facility Program, Baiduri and

Brunei Shell Petroleum Brunei Shell Petroleum (BSP) is a joint venture between the Royal Dutch/Shell Group and government of Brunei, primarily responsible for the exploration and production of oil and liquefied natural gas (LNG). Originally known as the British Mal ...

(BSP) joined to provide funding to regional companies. In Brunei, it has established itself as the top traditional bank.

HSBC HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

Brunei's retail and commercial banking portfolio was acquired by Baiduri Bank in 2024 which has a credit rating from

Standard and Poor's S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is cons ...

of BBB+/A–2. The bank made a deal with

Temenos A ''temenos'' ( Greek: ; plural: , ''temenē''). is a piece of land cut off and assigned as an official domain, especially to kings and chiefs, or a piece of land marked off from common uses and dedicated to a god, such as a sanctuary, holy g ...

on 1 November 2022, to operate its primary financial services on a cloud-based

software as a service Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike o ...

(SaaS) platform. A digital banking solution for enterprises, Baiduri b.Digital Business, was introduced in September 2022. Baiduri changed its personal banking app after relaunching its digital banking service for companies in September 2023 with a number of new features. Additionally, it introduced Baiduri Qpay, a digital wallet that has become popular among users. In 2023, Baiduri's net earnings increased 12.1% year over year to Br$65.6 million ($49 million), with a 12.77% increase in return on equity. As of 2024, Baiduri Finance is the only financing provider in Brunei that have obtained this well acknowledged accreditation. Additionally, only Baiduri Bank has the most recent version 3.2.1 of

PCI-DSS The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard used to handle credit cards from major card brands. The standard is administered by the Payment Card Industry Security Standards Council, and its use ...

certification in Brunei.

Senior leadership

The Corporate Governance Guidelines published by the

Brunei Darussalam Central Bank The Brunei Darussalam Central Bank ( abbrev: BDCB; ) is the central bank of Brunei. In addition to creating the Brunei currency and managing the nation's monetary policy, its major goals consisted of building and upholding domestic price stabilit ...

(BDCB) serve as a guide for the principles of good

corporate governance Corporate governance refers to the mechanisms, processes, practices, and relations by which corporations are controlled and operated by their boards of directors, managers, shareholders, and stakeholders. Definitions "Corporate governance" may ...

that the Baiduri Bank Group adheres to in the management and governance of Baiduri Bank

Berhad A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a serv ...

. Six directors, including the

chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

, make up the bank's

board of directors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

, or the board. * ''

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

'': Ti Eng Hui (since 1 April 2019) * ''Chairman'': Prince Abdul Fattaah

List of former CEOs

* Pierre Imhof (2003–2019)

Shareholders

As of 2018, the French multinational and financial services firm BNP Paribas, Baiduri Holdings, and Darussalam Assets are among the owners of Baiduri Bank. Additionally, Baiduri Bank and

(BSP) have teamed up to provide local companies with finance under the BSP Credit Facility Program.

References

External links

Official Website
{{Government of Brunei Banks of Brunei Banks established in 1994 1994 establishments in Brunei