FIJI NEWS
September 28, 2012 12:00:00 AM
  Follow @ Twitter

BRED Bank, which is expected to start operating from October 2012, says it intends to have five branches within six months.

The French-owned bank’s Fiji chief executive Satish Deb says the flagship and first branch will be at MHCC in Suva.

 “After that we will look at opening in other locations, but in the interim, we will consider appointing merchants and businesses as agents to process customer transactions electronically through EFTPOS,” Deb said.

The bank has recruited 35 staff and expects to have 45 by the time it opens, and promises 200 in three years.

The company is spending about $12 million on set-up costs, including on ATMs.

It expects to have 10 ATMS in operation soon after launch, with others installed over the next 12 months.

 Deb said BRED Bank will create borrowing opportunities for potential investors and increase capability/capacity for existing businesses as they will benefit from the competition.”

 “BRED Bank is also focused on contributing towards economic development through its programs for agriculture, rural banking, and microfinance.”

Deb said they will be competitive in banking services, customer care, interest rates, fees, and charges, lending terms as well as minimising bureaucracy and simplifying banking.

 “BRED Bank will be innovative in its approach and offerings, providing the people of Fiji with savings in borrowing costs and better earnings on deposits. They will focus on making banking a people business.’’

 By Ropate Valemei

Uptown


PREVIOUS STORY
We are committed to Maritime safety: PM
NEXT STORY
Police probe Marist-Grammar school brawl

Post a Comment
Bookmark and Share

 


Posted Comments
No comments, but you can post the first comment!
   





Has the free education scheme including free textbooks and busfare subsidy helped reduce costs incurred in your annual back-to-school shopping?
 Yes
 No


Poll Results: Current | Previous

Has the free education scheme including free textbooks and busfare subsidy helped reduce costs incurred in your annual back-to-school shopping?
Yes
 51%
No
 49%



More Polls
Press Esc to close this window
BUSINESS
Westpac sells operations in 5 PICs to BSPWestpac Banking Corporation today announced the sale of its banking operations in five Pacific Island countries to the Bank of South Pacific Ltd (BSP) for A$125 million.
SPORTS
Viriviri eager to shine more in 7s rugby2014 IRB World Sevens Player of the Year, Samisoni Viriviri is happy to rejoin the Vodafone Fiji 7s team for Wellington and Las Vegas 7s and says he has a vital role to play for the country.
WORLD
'Green'-tinted SUVs at Seoul Motor ShowGas-guzzling SUVs, eco-friendly electric cars and the odd brave attempt to marry the selling points of both are taking centre stage at the biennial Seoul Motor Show.
TECHNOLOGY
Vodafone Fiji, Tonga telco in allianceVodafone Fiji and Tonga Communications Corporation today signed a strategic partnership alliance that will allow the Tongan company to leverage off the experience of their Fijian counterparts.
ENTERTAINMENT
No Flex Zone brothers release debut albumRae Sremmurd (read it backwards), who released last’s year’s catchy hit No Flex Zone, has released their debut album.
HEALTH/FITNESS
Clean-up day to curb dengue outbreakFiji's Ministry of Health has declared a clean-up day next Thursday for residents in the central division as it ups the tempo against a dengue fever outbreak currently experienced in the country.
NEWS SPORTS INFOTAINMENT SERVICES MOBILE EXTRA HOT TOPICS