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BANKING & FINANCE
clients realise growth opportunities within and
outside Brunei. Local businesses can spread
their wings further out through the bank’s
network in the region.
In addition to enjoying
seamless global banking, clients are assisted by
the bank’s experienced relationship managers
to navigate market trends.
Commitment to the community
In its effort to promote financial literacy
among the public, SCB conducts financial
literacy initiatives across varying levels for the
community and their clients. The bank has a
weekly general finance tips and advice column
in the national newspaper Borneo Bulletin.
SCB also shares educational tips on
investments through social media channels.
In addition to holding financial planning
roadshows and seminars, the bank collaborates
with various organisations to deliver financial
education in schools.
In February 2019, the bank signed an agreement
with Darussalam Enterprise (DARe) to extend
its Financial Education for Entrepreneurs
programme to micro, small and medium
enterprises (MSMEs) in the country. The
programme spans five fundamental modules on
finance management and will be administered
through DARe’s Industry Business Academy.
Achievements
Digital innovation continues to be an important
journey for the bank. SCB was recently awarded
Best Consumer Digital Bank 2019 for the sixth
time by Global Finance.
Another significant achievement by SCB is
the launch of its enhanced business banking
proposition, aimed to help MSMEs drive
the local economy. Two new products were
presented at the launch, namely the USD Multi-
Tiered Interest Rate Account and the Smart
Business Account.
The USD Multi-Tiered Interest Rate Account is
a current account that offers attractive interest
rates and is ideal for companies that trade
primarily in the US dollar. The interest rate
allows business owners to earn bonus interest
on idle fund without compromising on business
liquidity. As the account grows, so does the
interest rate.
Meanwhile, the Smart Business Account allows
businesses with a current account to subscribe
for a Smart Business Account, which will
reward businesses with up to 50 per cent rebate
on their outward telegraphic transfers. Smart
Business Account holders will have access to
the Straight2Bank business platform, which
enables businesses to authorise payments and
view balances in real time, to name a few.
SCB’s
subsidiary,
Standard
Chartered
Securities, recently introduced six new unit
trust funds to the local market in partnership
with Invesco. The latest range of funds from
Invesco is the first to be available in the country,
with Standard Chartered Securities as the sole
distributor. Clients will benefit from having
more choices of unit trust funds and be able to
diversify their investment portfolio.
On the corporate social responsibly front,
the bank collaborated with the Society for
Community Outreach and Training (SCOT) and
launched Futuremakers in November 2019. SCB
awarded a total of BND15,000 to two startup
companies as a grant for their business ideas
aimed at solving issues around poverty faced
by youth.
2020 and beyond
As SCB moves into a new decade, the CEO
expressed his optimism for the country’s growth
and development.
“We will be seeing infrastructure investments
come to fruition this year (2020). With the
operationalisation of the refinery, there will be
further employment opportunities and with the
Temburong Bridge coming to completion, we
can expect to see increased momentum in trade
flows,” said Pengiran Aki.
ASEAN also continues to offer immense
growth opportunities and is a key focus for
the region, he said. SCB will continue to seek
ways on how to support its clients tap into
opportunities not only within the region but
also the corridor markets.
In remaining competitive, the bank’s agility
to adapt to digital trends will continue to
be a strategic component for growth across
all industries, said the CEO. The bank looks
forward to the next 60 years and beyond as it
remains committed in driving commerce, talent
development and prosperity in the country,
leveraging its unique diversity and its brand
promise of being ‘here for good’.