Key facts
| Name | Bank Islam Brunei Darussalam Berhad (BIBD) |
| Business | Full-service Islamic financial institution |
| Total assets | USD 4.6b At year end (2012, audited) |
| Total equity | USD 781m |
| Profit before tax and zakah | USD 101m |
| Capital adequacy ratio | 27% |
| Shareholders | Brunei Ministry of Finance, Sultan Haji Hassanal Bolkiah Foundation, Fajr Capital Limited, and some 6,000 individual Bruneian investors |
| Subsidiaries | BIBD At-Tamwil, BIBD Securities, Syarikat Takaful Brunei Darussalam (affiliate) |
| Head office | Bandar Seri Bagawan |
| Website | www.bibd.com.bn |
History
Bank Islam Brunei Darussalam Berhad (BIBD) is Brunei.s largest bank and flagship Islamic financial institution. It was formed by the 2005 merger of two earlier local Islamic financial institutions, Islamic Bank of Brunei and Islamic Development Bank of Brunei, and began operations in 2006. With majority government shareholding, it is also committed to Brunei Darussalam.s National Vision 2035 of attaining developed nation status.
Financial highlights
BIBD is a financially strong and stable institution. At year-end 2011 (audited), total assets stood in excess of USD 4.6b and total equity in excess of USD 781m, with profit before tax and zakah of USD 87m. With a capital adequacy ratio of 26%, BIBD has significant surplus liquidity. It maintains conservative provisioning and write-off policies, and provides a consistent dividend stream to shareholders.
Market reach
BIBD is headquartered in Bandar Seri Begawan, with thirteen other branches at strategic locations in Brunei.s four districts. BIBD also has the largest network of ATMs (forty-nine) in the country.
BIBD leads the Brunei market in assets, financings and deposits. It is also the preferred payroll bank for Government employees.
Services
BIBD is a full-service bank, providing Islamic financial services to all customer segments. Consumer Banking contributes the majority of the bank.s revenue (65%), with Corporate Banking contributing 19% and Institutional Banking contributing 13% (all figures 2011).
BIBD was the first institution in Brunei to launch mutual funds domiciled in Brunei.
At-Tamwill
BIBD At-Tamwil, a wholly-owned subsidiary, provides fixed deposits, vehicle hire purchase and consumer product financing.
BIBD Securities
BIBD Securities, a wholly-owned subsidiary, provides Islamic shares listed on the Kuala Lumpur and Singapore stock markets, as well as brokerage services for both local and foreign shares.
Syarikat Takaful Brunei Darussalam
Syarikat Takaful Brunei Darussalam, a 30%-owned affiliate company, provides general and family takaful services through its subsidiaries Takaful Brunei Am and Takaful Brunei Keluarga.
Landmark transactions
In 2011, BIBD helped arrange transactions totalling more than USD 2b, including as co-lead manager for The Republic of Indonesia.s USD 1b sukuk issuance and as co-lead manager for Kuveyt Turk.s USD 250m syndicated murabaha financing facility, which was awarded Turkey Deal of the Year by Islamic Finance News.
In 2009, BIBD was a mandated lead arranger for the Islamic Development Bank.s USD 850m sukuk issuance as well as a joint lead manager for General Electric Capital Corp.s USD 500m sukuk issuance, which was awarded Best Sukuk Deal by Euromoney.
To date, BIBD is the only Bruneian bank to have won international mandates.
People
BIBD has over 600 staff and its governance is rooted in global best practices. Its Chairman is Brunei.s Minister of Industry and Primary Resources, and its Deputy Chairman is Deputy Minister at the Brunei Ministry of Finance. Other non-executive directors hold senior roles at the Brunei Investment Agency and Fajr Capital.
Corporate Social Responsibility
BIBD actively invests in the welfare of Bruneian society through organizing and supporting research and development activities, youth empowerment programmes and social causes.
Contacts
| MD'S Office | Clevy Syabil 'Arifin Jamil | syabil.jamil@bibd.com.bn |
| Media | Dk Rodzi Pg Hj abd Rahman | corporate.communications@bibd.com.bn |
| Media | Abang Shairazi Abang Zainuddin | corporate.communications@bibd.com.bn |
