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skills training workshops designed to complement
existing training programmes offered by DARe.
Baiduri Bank also offers a wide range of solutions
for local SMEs including Working Capital
Financing, Instalment Loan, Property Loan as
well as trade financing options such as Indent
Financing and Account Receivables Financing.
Other products designed to serve SMEs include
business credit cards, payroll processing and
other day-to-day banking services such as fund
transfers and bill payments.
Active support measures
With regards to the COVID-19 pandemic, the
CEO said, “We activated our Business Continuity
Plan (BCP) for a pandemic on March 12, 2020
after the World Health Organization declared
COVID-19 a pandemic. But prior to the activation
of BCP, Baiduri Bank had already begun taking
precautionary steps as early as January, when
Singapore announced its first confirmed case.”
The bank activated split operations with alternate
teams working in separate physical locations
away from the primary site. All branches and
subsidiaries were sanitised, with mandatory
temperature screening, social distancing
measures and fabricating acrylic shields at teller
counters to form a protective barrier. The bank
also provided personal care kits for all employees.
In support of efforts led by the Ministry of Finance
and Economy and the Autoriti Monetari Brunei
Darussalam (AMBD) to assist individuals and
businesses during the COVID-19 outbreak, Baiduri
Bank has introduced several support measures to
mitigate the impact.
For eligible individuals who are financially
affected by the pandemic, the bank introduced a
deferment of principal payment for personal and
mortgage/property loans, an option to convert
credit card balances to term loans and deferment
of Hire Purchase principal payments through
Baiduri Finance.
The bank’s support measures for corporate clients
include a deferment of loan principal repayments
for companies in all business sectors. Businesses
under eligible categories were given waivers
of fees and charges for trade and payment
transactions.
Baiduri Bank also implemented fee waiver for
online fund transfers between local banks to
encourage the use of digital channels such as
online or mobile banking or via the ATMs, in line
with safe distancing measures.
Brand refresh
Baiduri Bank launched its refreshed brand in
September 2020, following an intensive year-long
process of planning, research and assessment in
partnership with an international team of brand
consultants.
Ti said, “Our community, and the world around
us, is changing and we too must change with it.
As we prepare ourselves for the next phase of
growth, we want to take the opportunity to have a
closer look at our core capabilities in the context
of the changing world, and ask ourselves how we
can redefine our vision to be stay relevant, and
to better communicate the strengths and values
that make Baiduri unique. We also want to rally
our people behind a shared purpose, so they are
inspired to do their best to create meaningful
impact in the communities we serve.”
Well-positioned for sustainable growth
Baiduri Bank’s global outlook coupled with deep
local insights, strong commitment to the domestic
market and quick adoption of new technologies
have contributed to its success as one of the
leading conventional banks in Brunei.
The bank fully supports the AMBD’s Digital
Payment Roadmap in creating a digital payment
ecosystem by 2025. With plans to continue
developing its electronic payment capabilities
and e-banking services, the bank is on course
to be a leading player in the country’s digital
banking realm.
With a strong credit rating of BBB+/A-2 from
Standard and Poor’s coupled with high liquidity,
Baiduri Bank is well-positioned to capture
opportunities in the market and drive sustainable
growth as one of the leading and preferred
financial partners of Bruneian businesses and
consumers.