Government has welcomed the announcement by the Westpac Group to end the sale process of its Pacific Banking Businesses and retain Westpac operations in Fiji.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, said Westpac has played a critical role in Fiji’s economic development with 123 years of operations and the decision to maintain its presence in Fiji reaffirms the bank’s confidence and commitment to economic development and financial stability in Fiji.
He said the government looks forward to enhancing its partnership with Westpac Fiji to further support financial intermediation, banking sector development, financial inclusion, and overall economic progress.
Westpac Group has announced today that it will retain its Pacific business, continuing to grow alongside its customers and the economies of Fiji and Papua New Guinea.
Westpac said it believes it has a great role to play in this very important region with their ability to be a strong, stable and trusted financial partner in the Pacific.
They said Westpac has proudly supported Fiji’s and PNG’s economic growth and development for more than a century, and they are well-placed to continue this support.
The decision means Westpac will continue to support the local economies and local business, improve digital and service capabilities for customers and deliver important community programs in financial literacy and education.
“Westpac Group’s decision to retain the business is a vote of confidence in the future of Fiji.”