BIBD's S&P ratings affirmed at A- stable
Source : Borneo Bulletin
18 Feb, 2017
503 views
BIBD was affirmed a stable outlook on its strong A- rating from leading international credit rating agency S&P Global, holding on the same rating it was first assigned in 2015. The rating, the highest for a Bruneian bank and on par with other leading banks in Asean, recognises BIBD's financial and capital strength along with its leading market share in Brunei Darussalam. The affirmation by S&P also reflects Brunei's strong fiscal and economic performance, especially from the hydrocarbon sector.
According to a press release, Dato Seri Setia Awang Haji Bahrin bin Abdullah, Minister of Development in his capacity as BIBD Chairman commented, Alhamdulillah, this affirmation highlights the strong capabilities and ambitions of both BIBD and Brunei Darussalam as it further strengthens not only BIBD's positioning as a leading financial institution, but also Brunei Darussalam as a nation that is committed towards the growth and aspirations of its people, in line with His Majesty's Brunei Vision 2035.
Also commenting on the rating reaffirmation, BIBD Managing Director Mubashar Khokhar said, The rating reaffirmation is a testament of Brunei's firm support to the success of the nation as well as its very own Islamic financial institution. This also reflects our own commitment in taking BIBD to continue upholding its international standards to ensure it remains the first choice for its customers, stakeholders and employees by providing the best-in-class in terms of innovation in our product range and customer service which at the same time enables us to continue providing safe and responsible financial products and services to all our customers.
At the same time this affirmation is also a result of the forward thinking of Brunei's thought leaders that have created pro-business policies and an enterprising business environment that will only contribute towards the development of the Bruneian economy.
