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Aki Ismasufian (Pg Aki Ibrahim), CEO of Standard Chartered Bank Brunei, discussed the bank’s business performance, strategic focus, and key developments in Brunei’s financial sector, around digital transformation, institutional cash and treasury management, sustainability, and the challenges facing the industry.  Ismasufian highlighted the bank’s core concentration on retail banking and wealth management, underlining its commitment to serving individual customers and assisting them in managing their financial assets effectively, while also providing cash management services for corporate and institutional clients, leveraging the group’s network capabilities.  Ismasufian also emphasised the bank’s digital transformation and its evolution into a digitally-focused bank with continuous investment and enhancements in both its retail and business digital banking platforms, leveraging its capabilities in banking-as-a-service to collaborate with other financial institutions and enhance digital banking experiences.  Participating in the National Digital Payment Network, Standard Chartered is keen to contribute to the country’s digital payment ecosystem. This will pave the way for the country to join the ASEAN regional payment connectivity initiative. Ismasufian anticipates that participation in these networks will accelerate the growth of digital commerce and e-commerce within the country.  Standard Chartered is also focused on sustainability and its global initiatives to achieve carbon neutrality by 2030 and net-zero emissions by 2050. Ismasufian stressed the imperative to expedite the achievement of sustainability goals, but he also sees the need to accelerate opportunities for diversification in other industries such as downstream and manufacturing derivatives, to name a few.  He also acknowledged the need to foster entrepreneurship in Brunei, noting that the pace of economic growth can be accelerated. He also highlighted the importance of financial inclusion in driving economic progress. Marilyn Graeme, Brenda Low, Jocelane Basir, David Kong Foo Boon Ping 胡文彬, TAB Global #StandardCharteredBrunei #bankinginbrunei #digitaltransformation #retailbanking #wealthmanagement #sustainabilityinitiatives #financialinclusion #cashmanagement #aseanpaymentconnectivity #carbonneutrality #netzeroemissions #businessdigitalbanking #economicgrowth #financialservices #digitalpaymentecosystem #bankingasaservice #diversificationopportunities #TAB #entrepreneurshipinbrunei #sustainablebanking #aseanfinance #theasianbanker #tabglobal

Dive into the latest edition of Asian Banking & Finance (July - September 2023) here: https://bit.ly/44Iryz8 This issue features the remarkable story of the Bank of the Philippine Islands (BPI), the oldest bank in the Philippines and Southeast Asia. Learn how BPI has transformed itself over the years and embraced digital banking to stay ahead of the competition. Read it now on any device. #AsianBankingandFinance

In Q3 2023, Singapore banks (DBS Bank, UOB, OCBC) thrived on rising interest rates and wealth management fees, resulting in a robust performance.   Despite declining loan portfolios, net revenues surged by 9.9% to USD 8.95 billion. DBS led in net profit growth at 16.58%, reaching USD 1.95 billion, driven by increased interest and non-interest income. UOB, however, saw a 2.48% profit decline due to a drop in non-interest income. Fee income rose by 9.7%, with UOB's growth at 12.73%, fueled by card-related and wealth management fees.   The Net Interest Margin grew by 21 basis points to 2.18%. Non-performing loans decreased, and cost efficiency improved. Key initiatives included DBS's commitment to support the underserved, UOB's employee support program, and OCBC's #GenAI chatbot for employee assistance. Overall, increased NIMs, strategic initiatives, and improved cost efficiency drove the strong performance of Singapore banks.   Read the full report here: https://lnkd.in/d8DTfYJt #Banking #Finance #BankingInnovation #AI

At Invest ASEAN, Dato’ Khairussaleh Ramli, Maybank Group President & CEO was on CNBC to discuss the bank’s regional plans on sustainability and achieving global leadership in Islamic banking. Tune in to the conversation - https://lnkd.in/gcQUK9ci #InvestASEAN2023