Pierre Imhof

Pierre Imhof

CEO of Baiduri Bank

Finance / Brunei Darussalam

Baiduri sows seeds of Sino-Bruneian trade

With an investment-grade BBB+ rating by S&P, Baiduri Bank is an epitome of Brunei’s financial service resiliency. Having been the first to introduce online banking in Brunei, today Baiduri continues that pioneering legacy by having launched UnionPay 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?
The Renminbi trade payment service demonstrates our belief in the growth potential of Chinese-Bruneian trade, 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 kind of banking and comfort that they have become accustomed to abroad. This requires us to bring in the latest industry technologies and strive for excellence.

“Our RMB trade payment system demonstrates growth potential.”

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 Singapore, Malaysia, and Hong Kong’s capital markets.

How does Baiduri ensure it is the bank of choice in Brunei?
Baiduri won the “Safest Bank in Brunei” award from New York-based Global Finance Magazine for two years. We have a very high capital adequacy ratio of around 20 percent, which is 10 percent more than what is required by regulators.

What is your business perspective with China?
The Sino-Brunei bilateral relationship should grow substantially due to the recent increase in Chinese businesses coming to Brunei.