BRED Group doubles capital for BRED Bank Fiji to $70 million to boost its growth in the Fijian market

BRED Group doubles capital for BRED Bank Fiji to $70 million to boost its growth in the Fijian market

By Rashika Kumar
Friday 23/07/2021
BRED Bank Fiji CEO, Thierry Charras-Gillot. [Image: File Photo]

BRED Group is carrying out capital increases of nearly $70 million for its subsidiary BRED Bank Fiji to accelerate the development which will boost its growth in all market segments, including corporate and institutional financing.

BRED Bank Fiji CEO, Thierry Charras-Gillot says the investment of new funds improves the Bank’s capital position and will help accelerate its growth in the Fijian market.

He says the doubling of capital investment from an initial US$36.5 million by the shareholders demonstrates their confidence in BRED Bank Fiji and the growth potential of the Fijian economy.


Charras-Gillot adds the capital increase has also put the Bank in a better position to stimulate post-pandemic growth which will help in getting the economy back on track.

Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum says there is no doubt that BRED Bank has played a positively disruptive role in the banking sector since its entry into the Fijian market 9 years ago.

He says this injection of new capital is another indication of it and it will provide an important source of credit for Fijian businesses that will help fuel our growth as we emerge from the COVID crisis.

Sayed-Khaiyum adds the injection of this new capital from Paris demonstrates confidence in the Government’s management of the Fijian economy and the stability of our financial system.

BRED Bank now owns around 7.5% market share and its network is made up of six branches and more than 140 employees.

Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
All Blacks 7s claim both Sydney 7s men’s and women’s titles
Serious questions are being asked after yet another dismal performance by the Fiji Airways men’s 7s team in the HSBC World 7s Series.
5 days ago

Womens Rugby World Cup 2022
Quarter-final qualification is now the goal for the Rooster Chicken Fijiana 15’s following their 21-17 victory against South Africa.
110 days ago

Queen Elizabeth II passes away
Queen Elizabeth II, the UK's longest-serving monarch, has died aged 96, after reigning for 70 years.
140 days ago
Riyaz Sayed-Khaiyum had a total package for the year of $387,790.08 and received $32,315.84 per month - Amrit
Fijian Broadcasting Corporation Chair, Ajay Bhai Amrit stresses the former CEO, Riyaz Sayed-Khaiyum had a total package for the year of $387,790.08 an...
12 hours ago
Grammy Awards 2023: Beyoncé becomes the biggest winner in history
Beyoncé has broken the record for the most Grammy Award wins of all time, after collecting her 32nd trophy at this year's ceremony. The singer ...
12 hours ago

Millions of tonnes of waste dumped at Naboro Landfill since its inception in August 2005
The Naboro Landfill has received 1,295,651 tonnes of waste since its inception in August 2005 to December last year, and the tonnage of waste landing ...
12 hours ago

CWM Board of Visitors confirms clean up day on Feb 25th
Colonial War Memorial Hospital, Board of Visitors Chair, Dr Esther Williams has stated they are having a Clean Up Day on Saturday, February ...
12 hours ago

Beyoncé leads nominations for Grammys and might break record for most wins
Beyoncé is the top nominee for the 65th annual Grammy Awards, with all but one of her nine nods coming for her dance-heavy album ...
16 hours ago

Prof.Prasad having several high-level bilateral engagements with Indian Government Ministers
Fiji's discussions in India will be focused on advancing India-Fiji economic relations and bilateral cooperation in areas of mutual strategic ...
16 hours ago