Since its beginnings in 1994, Baiduri Bank Group has shown impressive growth in business volume and activity, earning numerous international awards along the way. For three consecutive years since 2009, Baiduri has been named the Best Banking Group for Brunei by this magazine. And in March 2011, World Finance named Baiduri Bank as the Company of the Decade for Brunei for the period 2001-2010, reflecting the bank’s outstanding performance during the decade.
The banking group started out with nine staff members and one location in the Brunei capital, Bandar Seri Begawan, offering corporate banking services to import businesses and project financing needs for its customers. A few years later, while maintaining its leadership position in corporate banking, it diversified its services to include retail banking, which included card acquisition and issuance. In 1996 it established its wholly owned subsidiary, Baiduri Finance, and today it has already captured a significant portion of the automobile financing business and is now the leader in the automobile financing industry.
With a strong combination of local commitment and global expertise derived from the bank’s shareholders – Baiduri Holdings, Royal Brunei Airlines, Royal Brunei Technical Services, and BNP Paribas, the group grew quickly to become one of the largest providers of financial products and services.
Payment-card leader
The group began seeking new opportunities in the Brunei market, in particular the card-issuing and merchant-acquiring business.
Being the first debit cards issuer in the country since 2001, Baiduri Bank saw an opportunity to expand its debit cards with the issuance of a Prestige MasterCard debit card, and recently acquired the UnionPay card brand. Baiduri launched the UnionPay Debit card in 2010, and became the first bank in Brunei to offer PIN-based security.
In 2010, Baiduri Bank saw a double-digit increase in the issuance of debit cards, reflecting the popularity and necessity of payment cards in the market. Further analysis showed that the current lifestyle of consumers in Brunei to make payments by cards and perform online shopping has contributed to the significant growth for all payment cards, in particular the debit and prepaid cards.
Today, Baiduri Bank has the largest number of cardholders and merchants in the country. It is the only bank in Brunei to hold franchise for four major card brands – American Express, Visa, MasterCard and UnionPay – offering the widest range of payment cards covering prepaid, debit, and credit cards to meet consumer needs and lifestyles.
Investment in technology
Technological advances within the past years have encouraged more and more people to carry out their banking errands on-the-go and make bill payments over the internet.
Today, Baiduri Bank has one of the largest ATM networks in the country – 37 ATMs at 29 locations, providing wide and easy access to the public. Equipped with cash and cheque deposit, cash withdrawal, bill payment and fund transfer functions, they are available 24 hours a day. Baiduri ATMs have provided a convenient way for consumers to carry out their banking errands at any time.
In addition, the bank also offers a user-friendly, secured internet banking service – personal i-Banking and business i-Banking; and a mobile phone banking service – FAST; thereby allowing consumers to bank online via their computers and smart phones.
Consistent strong performance
The desire to strengthen its relationship with its clients in order to always meet their needs, the desire to streamline processes to improve customer services, and the bank’s responsiveness to market changes, have all contributed to its success as a leader in innovation and pioneering activities. Another crucial factor is the strong leadership provided by a management team with a proven track record, strong execution and local knowledge.
All these, together with the ability to offer a complete and diversified range of products and services to suit individuals, companies, government and the public under one roof created the winning combination for continued success.
Baiduri Bank is an award-winning local bank, using local resources, market intelligence and adopting international best practices to deliver world-class innovative services to the people of Brunei Darussalam.
For more information – Tel: (673) 226 8300; Email: bank@baiduri.com; www.baiduri.com
