FDB’s lending portfolio grew to $539.75 million at the end of the 2019 Financial Year

The Fiji Development Bank’s lending portfolio grew to $539.75 million at the end of the 2019 Financial Year, which was an increase of $52.70 million or 10.82% from the previous year.

The major driver of this increase were disbursements of $112.94 million while the loan portfolio represented a customer base of 5,149 accounts.

According to the 2019 Annual Report, the Bank made a net profit of $4.07 million.

The Chairperson of the Standing Committee on Economic Affairs, Vijay Nath says the Bank has successfully executed its accreditation with the Green Climate Fund.

Nath says this will give potential for the Bank to increase foreign investment in local climate change mitigation and adaption projects.