FDB achieved remarkable 112 percent growth in net profit in 2023

FDB achieved remarkable 112 percent growth in net profit in 2023

By Mosese Raqio
Saturday 20/04/2024
FDB CEO, Saud Minam. [Image: File]

The Fiji Development Bank (FDB) has achieved remarkable growth in net profit, with a year-on-year increase of over 112 percent which was revealed during the publishing of its 2023 Annual Report and which was also tabled in Parliament earlier this week.

In a statement, FDB says this reflects the Bank’s robust performance and strategic initiatives and adds presenting a profitable and impactful year to Parliament was a significant achievement, symbolizing a vital trust vested in FDB.

They say it not only reaffirms this trust but also strengthens the nation with a bank that serves as a foundational institution committed to empowering even the smallest entities with equal fervour and accessibility as the larger ones.

FDB says the Annual Report features key information such as the Bank’s activities in Finance and Administration, Financing for Sustainable Development, Business Risk Services, Climate and Eco-Finance, and Community and Environment.

They say from the report, some of the key achievements by FDB include its increased women portfolio from 19.16% to 26.09%, $40 million disbursed to the MSME sector to assist in the sector’s progress, 15 community engagements on a monthly basis, and 5,000 hours of employee training for the year.

The report also highlights customer success stories.

FDB CEO, Saud Minam, says that behind every statistic in the Annual Report lies a story of resilience, opportunity, and human potential.

Minam says at FDB, they measure their progress not only by financial growth but also by the positive impact they create for their customers and communities.

He says their Annual Report isn’t just a reflection of their past year’s performance but is a blueprint for their future growth and impact.

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