5 Nov 2012

New French bank in Fiji welcomed

1:32 pm on 5 November 2012

The Governor of the Reserve Bank of Fiji says the opening of a new bank in Suva will fuel and drive increasingly positive sentiment in the Fiji economy.

The French bank BRED opened the doors of its new branch on Saturday, and plans to open more throughout the country.

The bank has started its operations from scratch in Fiji, injecting about 22 million US dollars in capital investment to begin operations.

The BRED Bank's Chief Executive, Satish Deb, says Fiji was an attractive market for the bank to establish because of its good sized market, well established financial system and good communications capabilities.

The BRED Bank is the first French bank to open in Fiji.