Barry Whiteside: Providing Fijians with innovative banking services
Opening address by Mr Barry Whiteside, Governor of the Reserve Bank of Fiji, at the
opening of BRED Bank (Fiji) Limited's Nausori branch, Nausori, 19 October 2013.
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Director BRED Bank Paris, Mr Sébastien Nahon
The Chief Executive Officer, Mr Satish Deb
Management and Staff of BRED Bank (Fiji) Limited
Distinguished Guests
Ladies and Gentlemen
Introductory comments
Good Morning, Bonjour and Bula Vinaka to you all.
I wish to thank Satish for the kind invitation to officiate at the opening BRED Bank's newest
branch, right here in Nausori.
Almost a year ago, I had the pleasure of also officiating at the opening of BRED Bank's first
branch at MHCC, followed just recently by its first kiosk bank in the Tappoo City Building in
Suva. You may recall at the MHCC occasion that I had mentioned BRED Bank had a vision
to invest in Fiji due to the countries relatively developed market size and appealing future
economic prospects. Today marks another milestone of this vision being brought to reality.
Being the only locally incorporated Bank in Fiji, BRED Bank boasts strong support from its
parent company, Compagnie Financiere de la BRED (COFIBRED), a wholly owned
subsidiary of BRED Banque Populaire and the largest regional co-operative bank of the
Banque Populaire Group of France.
Only 11 months old in our banking system, BRED Bank is showing real signs of progression,
currently employing around 68 staff with 100 percent local Management. I am told that the
institution now has eight ATMS around the greater Suva area with new EFTPOS machines
also currently being tested before deployment.
BRED Bank's Nausori Branch
BRED Bank has always indicated that it would provide the people of Fiji with innovative
banking services. The opening of this new branch in Nausori is a clear testament of this
"It's All About You!"
commitment, synonymous with its catchy slogan I would like to
emphasise that initiatives such as this today also dovetail with our National Financial
Inclusion Taskforce goal to reach 150,000 unbanked Fijians by the end of 2014.
BRED Bank's presence in Nausori will bring about further competition in the financial
services sector in this area. Customer choice and banking services will certainly widen.
Employing around seven staff, this new branch will offer full commercial banking services,
ranging from personal and business banking, to loans and foreign exchange services.
I am pleased to hear that this is just the beginning and that several other branches are on the
drawing board for other locations around Fiji.
Concluding remarks
To the Nausori business community and the people of the three provinces of Naitasiri, Rewa
and Tailevu, you now have a new bank in town. I encourage you to check out the services
that Bred Bank will provide to your advantage.
I again emphasise that such commitment and effort by our financial sector institutions need
to be applauded and I thank the Board and Management of BRED Bank for having the
ongoing confidence in our Fijian economy.
Thank you again Satish for the kind invitation to be here today.
I extend my warmest congratulations to the BRED Bank Team on the establishment of this
new branch. I wish your institution the very best in its future endeavours.
Official opening
I now have much pleasure in declaring BRED Bank (Fiji) Limited's Nausori Branch, open.
Merci Vinaka Vakalevu.
Thank You, and