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Fiji Time: 2:29 AM on Thursday 17 April

/ Front page / Business

Bank reaches out

Geraldine Panapasa
Saturday, February 16, 2013

REACHING out to the unbanked in Fiji has become a priority for BRED Bank following a meeting this week in Paris, France between Prime Minister Commodore Voreqe Bainimarama and senior bank executives.

The meeting also looked at areas of increasing banking investments and operation expansion in the Fiji market. BRED Bank (Fiji) Limited chief executive officer Satish Deb said they had a plan for rural banking that was cost effective.

"We will start rolling this out with the implementation of our distribution plans. Our solution will not place heavy fees and charges on banking products and services for the rural communities or the unbanked," he said yesterday. "We are seriously considering banking agency arrangements in Navua and Tailevu. The outreach program for BRED Bank Fiji to reach out to the unbanked was reinforced by our senior executives at the meeting in Paris.

"There were other very important development areas that were discussed between our two countries and particularly the expansion of BRED Bank in Fiji.

"We will continue to maintain our position in paying the top rates for deposits and providing the best deals on loans."

In a statement, Commodore Bainimarama said the move and confidence by BRED Bank to grow their operations highlighted government's commitment towards increasing foreign investment on the local front including those from the banking sector.