Thank you for accepting our invitation and for taking time out to honour us with your presence. We appreciate the support. Today is indeed a very proud day as we officially launch BRED Bank Fiji.
In creating BRED Bank FIJI, the first thing that we focused on and were very particular about was the internal culture of the organisation. We of course had the benefit of the leadership, experience and humility of our Deputy chairman, Mr Darryl Constantin who created BRED Vanuatu Limited in 2008 and made an enormous success of it. We had a success story to emulate.
Our business is about people, our customers, our staff, our colleagues. It is all About You. The people values we instilled in our desired culture were respect, understanding, appreciation, teamwork, support, caring, simplicity, humilityâ€¦..we then took it right through to every aspect of our business - to make it all about you.
I give special thanks to our staff who embraced our desired culture of Customer First, Fantastic Customer Service, of loving our customers, respecting and caring for them. At BRED Bank Suva Branch, you will see our Customer Services culture at work. We are proud of the warmth and humanity that the BRED Bank presents. Ladies and gentlemen, we commenced our business on November 3, 2012 and we have been overwhelmed by the support, by the response, by the demand for our services and products.
We are humbled by the understanding and appreciation displayed by our customers as they wait to have their accounts opened and others who continue to wait for the crowds to thin out—it appears that this is unlikely to happen for a long time.
From the bottom of my heart, A big Vinaka Vaka Levu. We understand that our customers want to benefit from our various offers for Premium Savings Account, Hassle Free Home Loan and LifePlus for Senior Citizens—these are the best offers that banking in Fiji has ever seen. We simply can't believe the response we are getting for refinance of homes and investment property loans. We appreciate the commercial loan applications we are getting and of course all of Fiji wants to benefit from the Fee Free Savings Accounts and highest interest rates that we offer.
For individuals, organisations and businesses who have cash or credit balances in their accounts, used by their banks for profit and charged a fee as well—we offer you our cheque account that will pay you interest on daily accrual.
We have a lot to offer and we have an open mind. When you talk to us, we listen. We don't dictate, we don't ask you to write letters, fill forms, present proposals—we do that work ourselves. We listen and we try to understand. I assure you that we will be building our capacity very rapidly as we now move to add more branches all over Fiji, install our network of ATMs and implement our EFTPOS technology. We already have a very superior Internet Banking Service for individuals and businesses.
Although BRED is a new Bank here, its people are all from here. We know the country, we know the people, we know the businesses, we know the culture and we understand. We are bold—we believe in our cause, we believe in our vision and we believe in our destiny—look at where we are taking the home loan rates and deposit rates. Irionically, our competitors are not following suit in trying to beat us on the interest rates they pay on deposits...I wonder why?
We have full international banking and commercial banking capability—don't let anyone tell you otherwise.
And, we are here to stay—for generations. We have decided on that. We are different to those that have come and gone. We are French Fijians that is a dangerous combination.
Our slogan is "Its All About You"—please note the absence of the word "We" because its not about us, its about You.
We live in your world too, but we treat you with dignity and respect. We understand and we care. We are not foreign, indifferent with profit motives that are absurd.
We would like to be your bank—for life but we promise that we will be there with you in bad times and in good times. We will ensure that you love our service and appreciation and our interest rates and offers. We promise that we will be fair in what we charge you.
Ladies and Gentlemen—the one thing that you all can do for us is to make us strong, to give us further capability and capacity to complete and compete fiercely, to bring your cost of loans down and you earn better returns on your deposits
* Move your deposits to us
* Do your foreign exchange transactions with us
* Move your loans to us
* In fact move your total business to us
* And we can all share the savings
Honorable acting Prime Minister, we have invested $40m into Fiji and are strongly confident about the leadership, administration and economic prospects. We are committed to provide better banking for Fiji. We will be innovative and fair.
We appeal to you to support BRED Bank with the government's banking business requirements. Your business will allow us to maintain lower costs for banking and pay higher interest rates on deposits.
Thank you very much and you all have a fantastic evening. We don't have a time limit so please pace yourselves and have a great time. Thank you for your support today and in the future.