Reserve Bank Governor Barry Whiteside says the establishment of the French owned Bred Bank in the country has come at a right time.
BRED Bank is locally incorporated and a subsidiary of Campagnie Financiere de la Bred formed in ninety one years ago and currently has a capital base of nine hundred and eighty seven million dollars.
Whiteside says this new investment confirms Fiji has the right climate for investment in the banking industry.
“The entrance of BRED Bank is considered timely and it is expected that customers will benefit from healthy competition within the industry. Bred bank is also optimistic that with its cooperative style and approach it will deliver a banking experience for Fiji that compares favorably with any other”.
Bred Bank Fiji CEO Satish Deb says they offer a whole range of products and services, high interest rates and housing loan incentives, subsidisation of costs and special service for elderly citizens.
“Bred has come a long way entrusting its capital investment in Fiji in the hands of totally local management we have come a long way in a very short time in establishing a new bank we are very passionate about Bred bank."
