Business resilience towards sustainable growth | Asian Business Review

Business resilience towards sustainable growth

The strategic efforts of its CEO has diversified the bank’s revenue sources and enhanced its service offerings.

Since Ti Eng Hui took the position as CEO of financial services provider Baiduri Bank in April 2019, his leadership has been instrumental in driving the bank's significant financial growth and steering a progressive digital transformation.

Under his guidance, the bank has embarked on a transformative journey, achieving key milestones such as a brand refresh, relocating to new headquarters, and realigning its strategy and organisational structure. During this period, Baiduri Bank has not only accelerated its digitalisation efforts but also introduced innovative HR initiatives and expanded its community engagement, all in pursuit of becoming a more agile and dynamic organisation.

The bank has witnessed exceptional financial growth, especially notable in the challenging economic climate of recent years. Its net profit went to BN$66m in 2022, with a forecast of another historical high of BN$88m for 2023. Its total assets are also forecasted to increase to BN$4b by the end of the year.

Ti Eng Hui also spearheaded the company’s digital transformation strategy that included strategic investments in emerging technologies. Initiatives such as core banking migration, credit modelling with artificial intelligence (AI), and Robotic Process Automation demonstrate a strong commitment to embracing technology for growth. 

As part of this strategy, the bank forged partnerships with several companies to personalise offerings, streamline operations, and to modernise the bank’s credit risk management using AI-powered solutions.

Meanwhile, the CEO is currently leading the development and progress of the bank’s ambitious three-year strategy in positioning the bank for robust expansion and innovation, which includes a strategic focus on diversifying its footprints beyond Brunei and capitalising on growth opportunities in ASEAN.

Through his leadership, Baiduri Bank has also developed several key strategic leadership with a focus on enhancing workplace culture and capabilities across the organisation.

This includes the move to a more comprehensive and systematic approach to talent management with the implementation of SAP SuccessFactors, a cloud-based HR solution that digitises core HR processes and service delivery, as well as a greater emphasis on employee engagement and employee wellbeing.

Ti Eng Hui places great importance on people development, recognising that a resilient and adaptable workforce is key to sustainability and business growth. The changes in business dynamics have urged employers to employ a more agile and adaptable approach towards people development.

For the bank, it has diagnosed and designed necessary support in terms of people skills and capabilities to drive business success. Since the start of 2022, efforts have been made to upskill people managers across the organisation through several initiatives, including the annual employee experience survey, leadership academy and mentoring programme, leadership forums, and robust talent development plans.

It has also enhanced rewards through increased bonus payouts and provided a cost-of-living supplement for eligible employees. At the same time, it has implemented an initiative that is aimed to promote physical, mental, spiritual, and financial wellness.

Moreover, Baiduri Bank has increased the frequency of engagement between leaders and employees by digitising its internal feedback management platform Employee Voice for better accessibility.

These employee engagement initiatives have proved to be successful for the bank. When comparing Baiduri Bank Group's engagement score to global and Asia Pacific benchmarks, its 70% rating surpasses the global average of 67% and equals the Asia Pacific average of 66%, demonstrating the relative success of its engagement initiatives in a competitive international landscape.

In navigating the shifting dynamics of the banking industry, Baiduri Bank consistently prioritises the well-being and professional growth of its employees. Its engagement initiatives are rooted in a long-term vision that prepares its workforce for the demands of tomorrow, fostering a culture of adaptability and continuous improvement.

“The positive changes within our organisation, evidenced by enhanced employee satisfaction and strengthened internal processes, demonstrate the effectiveness of our current strategies. Looking ahead, we aim to build upon our ongoing success and continue to invest in our employees," the company said.

Baiduri Bank’s comprehensive approach to sustainable employee engagement and development through the leadership of Ti Eng Hui has been honoured by the inaugural Asian Management Excellence Awards, with the CEO winning the Brunei Executive of the Year - Banking category and the company bringing home the win in the Brunei Employee Engagement of the Year - Banking category.

The prestigious awards programme celebrates the finest business leaders, innovators, and companies in Asia, and commends exceptional achievements in the various aspects of operations, including employee engagement programmes, diversity and inclusion projects, and health and wellness initiatives.

The Asian Management Excellence Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's employee engagements and management initiatives, please contact Jane Patiag at [email protected].

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