Latest news with #BankoftheYear
Scoop
2 days ago
- Business
- Scoop
TSB Lifts Profit And Builds Momentum For Digital Investment
TSB Bank has reported another year of strong financial performance and strategic progress. The Bank delivered a net profit before tax of $57.6 million for the year ending 31 March 2025, up $6.7 million on the previous year. In the 2025 financial year $15m in dividends have been declared to shareholder Toi Foundation Holdings Limited (the investment management entity of philanthropic organisation Toi Foundation), an increase on the $10m declared in the prior financial year. Performance was underpinned by a $7.8 million increase in net operating income and a 1.7% reduction in operating costs. Lending and deposit growth remained strong, with commercial lending up 29% and deposits increasing by 2%. TSB also maintained strong asset quality, with non-performing loans at just 0.5%, below the industry average of 0.7%. Chair Mark Darrow says the results reflect the Bank's focus on simplifying operations to pave the way for accelerated investment in digital capability. 'TSB is now in a strong position to evolve into a digital-first bank that delivers on the expectations of modern consumers and businesses, while staying true to our customer-first values and high-quality service,' Darrow says. 'We're laying the foundations for long-term growth by investing in the right technologies, talent and tools. Our goal is to build a bank that earns trust through great service today and innovation for tomorrow - and to do so in a way that reflects our deep community roots.' Chief Executive Officer Kerry Boielle says TSB's progress is a testament to the hard mahi of our people and our ongoing commitment to delivering more for our customers and communities. 'We've made great progress this year in strengthening our systems and products, so in the year ahead, people can expect TSB to step up and offer more for everyday New Zealanders and small to medium sized businesses. 'With our community background we know we can provide a fantastic level of care in this space, so that's where we're focused on improving our offering.' TSB was named Canstar's Bank of the Year for Credit Cards for the third consecutive year in 2025 - recognition of its focus on delivering customer value. The Bank also continued to invest in customer protection, enhancing fraud prevention systems including rolling out Confirmation of Payee. Looking ahead, Boielle says regulatory reform is needed to support improved competition and innovation across the sector. 'While regulation is essential to a safe banking system, some requirements are disproportionate and hinder innovation. 'We're calling on policymakers to introduce true proportionality in banking legislation so that New Zealand-owned banks like TSB can invest more rapidly in the products and services our customers need.' With TSB celebrating its 175th anniversary in 2025, Darrow says the Bank is focused on future growth. 'We're incredibly proud of our legacy and excited about what lies ahead. Our ambition is to become New Zealand's digital bank of choice – one that continues to put people first for generations to come.'
Biz Bahrain
18-06-2025
- Business
- Biz Bahrain
Arab Bank 'Best Bank in the Middle East 2025'
Arab Bank recently received the 'Best Bank in the Middle East 2025' award from New York-based Global Finance magazine, a testament to its leading position in the regional banking sector. This global recognition was made by the editors of Global Finance after extensive consultations with corporate financial executives, banking consultants, and analysts throughout the world. Global Finance considered several factors when selecting top banks, including asset growth, profitability, geographical coverage, strategic alliances, product innovation, and market expansion endeavors. The evaluation criteria also included the opinions of equity analysts, credit rating analysts, banking consultants, and industry participants. Global Finance Awards cover more than 150 countries, territories and districts across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe. Commenting on this recognition, Ms. Randa Sadik, Arab Bank's Chief Executive Officer, said: 'This global recognition affirms the vision and commitments embedded in our refreshed brand identity—where each milestone drives us toward even greater aspirations. It reflects our unwavering commitment to customer-centricity, innovation, and agility, all underpinned by our core philosophy which revolves around building lasting connections. She added: 'This award not only highlights the bank's leading position in the financial sector, locally and regionally, but also reinforces our constant dedication to delivering excellence. As we continue to evolve, we remain focused on empowering our customers and communities to thrive in an increasingly dynamic world.' It is worth mentioning that The Banker Magazine, owned by the Financial Times and based in London, has also named Arab Bank as Bank of the Year in the Middle East for 2024. Arab Bank, headquartered in Amman – Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches. Arab Bank's extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Sydney, Dubai, and Manama.
Roya News
17-06-2025
- Business
- Roya News
Arab Bank 'Best Bank in the Middle East 2025'
Arab Bank recently received the "Best Bank in the Middle East 2025" award from New York-based Global Finance magazine, a testament to its leading position in the regional banking sector. This global recognition was made by the editors of Global Finance after extensive consultations with corporate financial executives, banking consultants, and analysts throughout the world. Global Finance considered several factors when selecting top banks, including asset growth, profitability, geographical coverage, strategic alliances, product innovation, and market expansion endeavors. The evaluation criteria also included the opinions of equity analysts, credit rating analysts, banking consultants, and industry participants. Global Finance Awards cover more than 150 countries, territories and districts across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe. Commenting on this recognition, Ms. Randa Sadik, Arab Bank's Chief Executive Officer, said: 'This global recognition affirms the vision and commitments embedded in our refreshed brand identity—where each milestone drives us toward even greater aspirations. It reflects our unwavering commitment to customer-centricity, innovation, and agility, all underpinned by our core philosophy which revolves around building lasting connections. She added: 'This award not only highlights the bank's leading position in the financial sector, locally and regionally, but also reinforces our constant dedication to delivering excellence. As we continue to evolve, we remain focused on empowering our customers and communities to thrive in an increasingly dynamic world.' It is worth mentioning that The Banker Magazine, owned by the Financial Times and based in London, has also named Arab Bank as Bank of the Year in the Middle East for 2024. Arab Bank, headquartered in Amman - Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches. Arab Bank's extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Sydney, Dubai, and Manama.
Web Release
17-06-2025
- Business
- Web Release
Arab Bank 'Best Bank in the Middle East 2025'
Arab Bank recently received the 'Best Bank in the Middle East 2025' award from New York-based Global Finance magazine, a testament to its leading position in the regional banking sector. This global recognition was made by the editors of Global Finance after extensive consultations with corporate financial executives, banking consultants, and analysts throughout the world. Global Finance considered several factors when selecting top banks, including asset growth, profitability, geographical coverage, strategic alliances, product innovation, and market expansion endeavors. The evaluation criteria also included the opinions of equity analysts, credit rating analysts, banking consultants, and industry participants. Global Finance Awards cover more than 150 countries, territories and districts across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe. Commenting on this recognition, Ms. Randa Sadik, Arab Bank's Chief Executive Officer, said: 'This global recognition affirms the vision and commitments embedded in our refreshed brand identity—where each milestone drives us toward even greater aspirations. It reflects our unwavering commitment to customer-centricity, innovation, and agility, all underpinned by our core philosophy which revolves around building lasting connections. She added: 'This award not only highlights the bank's leading position in the financial sector, locally and regionally, but also reinforces our constant dedication to delivering excellence. As we continue to evolve, we remain focused on empowering our customers and communities to thrive in an increasingly dynamic world.' It is worth mentioning that The Banker Magazine, owned by the Financial Times and based in London, has also named Arab Bank as Bank of the Year in the Middle East for 2024. Arab Bank, headquartered in Amman – Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches. Arab Bank's extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Sydney, Dubai, and Manama.
The Sun
22-05-2025
- Business
- The Sun
Baiduri Bank Opens Representative Office In Singapore
SINGAPORE - Media OutReach Newswire - 22 May 2025 - Baiduri Bank, Brunei Darussalam's largest conventional bank, proudly announces the opening of its first overseas representative office in Singapore. Located at Marina Bay Financial Centre (MBFC) Tower 2, this expansion marks a significant milestone in the Bank's 30-year journey in the financial sector. Since its establishment in 1994, Baiduri Bank has undergone a remarkable transformation—evolving from a home-grown bank into a leading financial institution that has played a pivotal role in Brunei's economic development. Its evolution over the past three decades has been marked by rapid growth, innovation, and expanded capabilities in retail, corporate, and institutional banking. Today, Baiduri Bank is internationally recognised for its financial strength and innovation, reflected by its A-/A-2 stable rating from S&P Global Ratings. It has also been honoured with multiple international awards including 'Bank of the Year 2024' by The Banker, 'Best Bank in Brunei' by Euromoney and Global Finance, and 'Best Banking Group in Brunei 2024' by World Finance. These accolades reinforce the Bank's credibility and its strategic readiness to expand its regional footprint. A strategic expansion into Singapore – Beyond Brunei The launch of the Singapore Representative Office represents the next chapter in this trajectory. It is a strategic move to strengthen Baiduri Bank's regional presence, promote its corporate and institutional banking capabilities, and enhance engagement with counterparty banks and financial institutions. Singapore, as one of the world's leading financial hubs, offers immense opportunities for the Bank to identify strategic partners and alliances. By acting as a bridge between Bruneian opportunities and Singapore's vibrant financial ecosystem, the office supports Brunei's economic diversification agenda while creating pathways for Singapore-based institutions and investors to access new markets and forge cross-border collaborations. Leading the Representative Office Leading the Baiduri Bank Representative Office is Mr Young Yi, Chief Representative Officer, a seasoned corporate banker with over 25 years of corporate banking experience across local and international banks, including Deutsche Bank, HSBC, Societe Generale, ANZ and Westpac. With a strong background in corporate banking, relationship management, Mr Young is a valuable addition to support Baiduri Bank's presence in Singapore. Commenting on the launch, Mr Young stated: 'I am excited and privileged to be part of Baiduri Bank's journey in Singapore and I look forward to leveraging on my network, fostering strong meaningful collaborations to achieve win-win outcomes for Baiduri Bank and our partners. With our deep local knowledge of the Bruneian market, we offer ourselves as a trusted advisor to companies based in Singapore looking to invest in Brunei. The Representative Office will also serve as a referral conduit to our banking partners for Bruneian companies looking to expand into Singapore and the region'. Strengthening regional economic collaboration Brunei presents a compelling value proposition for businesses, offering a stable operating environment, strong governance, and attractive tax schemes. As a signatory to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Brunei provides tariff-free access to one of the world's fastest-growing economic regions. With its well-educated workforce, absence of capital controls, and 1:1 currency interchangeability with the Singapore Dollar, Brunei is well-positioned as a gateway for regional business expansion. In support of this goal, Baiduri Bank is working closely with the Brunei Economic Development Board (BEDB) to encourage greater investment engagement and regional business connectivity. The Bank's Singapore Representative Office will serve as a touchpoint to facilitate conversations with potential investors and explore new opportunities linked to Brunei. By aligning efforts with BEDB, Baiduri Bank hopes to contribute meaningfully to Brunei's broader economic diversification goals—while helping connect Bruneian businesses to regional markets and Singapore-based stakeholders to emerging opportunities in Brunei. Launch and networking reception The launch ceremony of Baiduri Bank's Singapore office at MBFC Tower 2 was a distinguished event, attended by esteemed guests, including Yang Amat Mulia Pengiran Muda Dr Abdul Fattaah, Chairman of Baiduri Bank, senior government officials, and prominent leaders from the banking sector of Brunei and Singapore. Baiduri Bank's CEO, Ti Eng Hui, delivered an address outlining the Bank's vision for regional growth, followed by the unveiling of a meticulously crafted 3D replica of Baiduri Bank's headquarters presented alongside iconic landmarks of Brunei and Singapore – symbolising the strong economic ties between the two nations. Following the official ceremony, Baiduri Bank hosted a networking cocktail reception at the Mandarin Oriental Singapore, attended by over 300 guests, including representatives and senior leaders from regional financial institutions and corporations.
