BIBD set to become first Bruneian bank to issue IPO
Image by Reuters
BIBD, Brunei’s largest bank and flagship Islamic financial institution, was formed in 2005 through the merger of Islamic Bank of Brunei and Islamic Development Bank of Brunei. It is an internationally recognised financial institution governed by global best practices under the guidance of an experienced management team.
As Brunei’s flagship Islamic bank and largest financial services provider, with around 900 employees and B$ 9.5 billion worth of assets under management, BIBD serves more than 200,000 customers. Their customers include retail, corporate as well as international clients.
Headquartered in Bandar Seri Begawan, BIBD operates sixteen branches at strategic locations in Brunei’s four districts and the largest network of ATMs in the country, serving over a quarter of the Bruneian population. Thanks to BIBD’s presence across the country, they have the largest contact centre in Brunei along with a digital mobile chat capability, and offer customers convenience through solutions such as internet and mobile banking.
Image by BIBD
BIBD is the only bank in Brunei that serves all segments within the retail banking market. With a strong focus on innovation and excellence, BIBD have been consistently recognised for our dedicated customer service and ability to deliver value to all our stakeholders. For example, they have recently won the Best Retail Bank in Brunei award (Borneo Bulletin).
Since its commencement, BIBD has made great strides in the development of its capabilities, which included upgrades in its overall service delivery and branch design that depict the Islamic visual canvas of Brunei Darussalam, establishing a service benchmark that is targeted to be “Bruneian at Heart”.
According to Reuters, BIBD is set to become the first Bruneian issuer in a possible IPO listing on the Malaysian bourse. The planned initial public offering could raise as much as US$500 million and will be managed by JPMorgan and Malayan Banking Bhd (Maybank) as the bank’s joint global coordinators. BIBD also expects to add a book runner. All of this would be a first for a Bruneian Banking institution.
Visit BIBD for more information.
- Borneo Bulletin https://borneobulletin.com.bn/bibd-wins-best-retail-bank-brunei-award/
- Reuters https://www.reuters.com/brandfeatures/venture-capital/article?id=11251
- BIBD http://www.bibd.com.bn/about/corporate-profile/