Bank Islam Brunei Darussalam (BIBD), Brunei’s largest banking institution, has recently been ranked as the second strongest bank in South East Asia and one of the top ten strongest banks in Asia-Pacific by The Asian Banker (TAB).
Among Asia-Pacific’s top 500 Strongest Banks by Balance Sheet, BIBD progressed from its previous ranking at 14th place and remains the only Bruneian bank to be featured, while marking its third consecutive year in the list.
The ranking is based on a very detailed and transparent scorecard that ranks commercial banks on six areas of balance sheet financial performance; namely the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity.
According to a press release by TAB, BIBD was commended on the improvement of its strength score, along with strong capital and liquidity positions, together with its improved asset quality, which have contributed to the bank’s ability to achieve a robust standing in balance sheet results.
Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II, in his capacity as BIBD Chairman, commented, “Alhamdulillah, we are both humbled and honoured to represent Brunei among the top ten strongest banks in the Asia-Pacific. This list is a matter of great pride for us as it reflects Brunei Darussalam’s industrious and resilient banking landscape. Ultimately, this is a result of strong ties between the Government of His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam, the banking sector, regulators and all stakeholders for enabling a dynamic and conducive economy vital to the sustainable growth of Brunei Darussalam.”