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A significant milestone that marks the growth of Fiji's only locally owned bank

Hfc Chief Executive Officer Rakesh Ram
Friday, March 09, 2018

HFC BANK, Fiji's only local bank, celebrated its fourth year anniversary as a commercial bank this March.

The bank officially opened its doors on March 3, 2014.

As HFC Bank's newly appointed CEO, it's an honour for me to be part of HFC Bank's fourth year anniversary celebrations — a significant milestone that marks the growth of Fiji's only locally owned bank. An accomplishment attributed to the commitment and loyalty of its board, stakeholders, customers and staff.

I am proud to declare that since June 2016, we have recorded a 22 per cent growth in the market with total assets of $853m and ranked fourth largest bank in Fiji. In spite of HFC Bank's short stint as a fully-fledged bank, HFC Bank has earned a solid reputation for being one of Fiji's most innovative financial institution, amidst more established banking houses.

Among its achievements in the past year, of particular gratification to the bank was the launch of e-lavo banking services.

A first of its kind in Fiji and the Pacific; this initiative offers convenience and accessibility to basic banking services through selected agency outlets Fiji-wide in collaboration with Vodafone, Newman and Pacific Financial Inclusion Program.

This financial year also saw the relocations of HFC Bank's Nakasi branch in Tebara to the new Rups Complex, and HFC Bank's Boulevard branch to Ganilau House to accommodate the demand and growing numbers to the bank's customer base with key features being our extended banking hours. Nakasi branch is the only branch in Fiji that offers Monday to Sunday banking services with Ganilau House, Nadi, Lautoka and Labasa branches offering Saturday services.

Of notable mention this year was the launch of a much needed bill payment facility

offered through internet and mobile banking with major billers like FEA, Water Authority of Fiji and TFL to name a few.

I believe in seeing many more great experiences, expansions and growth for the bank through more innovative banking technologies to ensure a more enhanced customer banking experience. More importantly, to support our growth in the future is the continuous nurturing and development of our staff.

A key focus area for the bank is our furthered commitment to the people of Fiji and the communities in need.

To support this initiative, HFC Bank is looking at adopting a more hands-on approach through the implementation of staff volunteer programs and charitable foundations to allow staff to make a difference in the lives of our communities by giving back to our people.

I am delighted that HFC Bank was the first

Corporate Organisation to be recognised and awarded the prestigious Women In Business "Employer of Choice for Women "award in 2016. To further continue our commitment to support women empowerment and diversity in the workplace, we will be establishing a Women's Leadership Team to affirm support for our women and establish goals for progression. In saying this as CEO it is important to have a corporate culture that includes equality and inclusion for all.

My sincere gratitude goes out to the incredible team here at HFC Bank who have worked tirelessly to bring the bank to where it stands today! A lot has been accomplished and no doubt we will be facing challenges in the year ahead but I believe that our strength as a team and our local culture will help us continue our journey in taking HFC Bank to the next level.


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