Liquidity not a problem for bank

BSP Finance director and BSP country head Haroon Ali with representatives of various business house from Lautoka at the opening of the new BSP Finance branch yesterday. Picture: Siteri Sauvakacolo

DESPITE the growing business liquidity concerns, BSP Finance does not see liquidity as a problem at this stage, four years after it started its operation in Fiji.

General manager Krishna Raju said the financial institution started on the basis that it would capture an industry that was probably untapped.

“We have not gone aggressively on to the market as well and we try to be very careful where we extend money to,” Mr Raju said.

“We don’t have a problem and we are backed by our parent company in terms of funding.

“BSP Finance is new and we are taking a very conservative approach for lending so we don’t go out aggressive in the market getting business, our budget is small and we want to maintain that, we don’t have an issue at the moment in terms of liquidity.”

While there were plans to extend business to other branches in the country, he said their staff members in the three branches worked on very stringent assessment criteria.

BSP Finance now has about 3500 customers and 18 per cent market share with tremendous growth in the past four years.

The financial institution, which is a 100 per cent owned subsidiary of Bank South Pacific, serves commercial clients, SMEs, individuals with new businesses and those who are new to employment and need some kind of financial assistance.

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