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FDB targets 50,000 customer base

November 25, 2021 5:56 am

The Fiji Development Bank has started a campaign to pull in new customers who may otherwise fail to secure loans from commercial banks.

Chief Executive Saud Minam says he wants to have at least 50,000 accounts under FDB’s portfolio focusing primarily on agriculture and small and medium enterprises.

Minam says FDB is returning to its core function as a facilitator of growth and development.

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“I understand that agriculture is not their cup of tea and it’s the same for a lot of banks here. To me, moving from a commercial to a development bank, it is very important that we enhance this segment of society because that’s the bread and butter of a lot of people.”

FDB is now revamping a number of services, introducing electronic portals for customers, taking on an advisory role and setting up more branches around Fiji.

 

“That segment is neglected. MSME’s can’t get loans from other banks, agriculture can’t get loans as well. Not only that – fisheries – with this new blue bond coming up, we are about to embark on talks with the Ministry of Fisheries.”

FDB has also processed $60m worth of COVID-19 recovery loans announced in the 2021-2022 budget.

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