Baiduri sows seeds of Sino-Bruneian trade
With an investment-grade BBB+ rating by Standard & Poor, Baiduri Bank is an epitome of the resilience of Brunei's financial services. Having been the first to introduce online banking in Brunei, today Baiduri is continuing that pioneering legacy by launching UnionPay services in the country and a renminbi transaction service. Pierre Imhof, CEO of Baiduri Bank, tells us more.
How is the low price of oil affecting the financial stability of Brunei?
Brunei has accumulated wealth from many years of higher oil prices and has financial reserves that may be partially and temporarily used to cover limited budgetary deficits. Low oil prices create an opportunity for Brunei to diversify its economy.
What does the launch of Baiduri's renminbi trade payment service signify for business?
Our renminbi trade payment service demonstrates our belief in the growth potential of trade between Brunei and China, which has been well received by the Chinese community in Brunei.
How can Baiduri continue to lead innovation?
Since Brunei's citizens often travel, we must provide them the banking services and convenience they require.
What is Baiduri's positioning within regional capital market activity?
Our equity brokerage house, Baiduri Capital, is the first in Brunei to offer an online platform to complete trade and investment transactions in the capital markets in Singapore, Malaysia and the Hong Kong Special Administrative Region.
How does Baiduri ensure it is the bank of choice in Brunei?
Baiduri has been named 'The Sa-fest Bank in Brunei 2015' by leading international finance magazine, Global Finance for the second consecutive year.
We have a very high capital adequacy ratio of around 20 percent, which is 10 percent more than what is required by regulators.
What are the prospects for business with China?
The Sino-Brunei bilateral relationship should grow substantially due to the recent increase in Chinese businesses coming to Brunei.
justin@the-businessreport.com
(China Daily 02/23/2016 page7)
