14 Sep 2012

Fiji Development Bank fails to reach lending target

9:44 am on 14 September 2012

The Fiji Development Bank is attributing a number of factors for failing to reach its target of lending 60 per cent of its funds to focused sectors and 40 per cent to the non-focused sectors.

The bank's annual report for the 2011 year states one of the reasons was that the loan disbursement target was not matched.

Fiji Times reports that the sale of the bank's home loan portfolio did not happen and the mid-stream settlement of a few of the bank's performing clients were also reasons.