HFC Bank to be the first to provide Trade Finance Program

HFC Bank will be the first bank in Fiji to provide Trade Finance Program that would see the growth in its trade finance operations that would provide finance for more importers and exporters.

This has been highlighted by Board Deputy Chairman Vilash Chand in the signing of the trade finance program with the Asian Development Bank Regional Director for the Pacific Robert Jauncey.

Chand says this partnership will steer the bank to provide a solid platform in the international banking arena while paving the way for their customers to venture into new global markets using safe and reliable financial products.

He adds that through the capacity building initiative through the program would increase practical experience and new skills and knowledge in Trade Finance Sales and Operations teams within HFC.

Regional Director for ADB Robert Jauncey says through this trade finance program, HFC bank will be able to grow its trade finance operations.

Jauncey says that this would include small medium enterprises that would also expand trade, growth and jobs in Fiji.

He says the trade finance product will complement its financial support with a regular series of workshops and seminars to increase knowledge and expertise in trade products, risk management, and fraud preventions.

HFC Bank has a total assets of $835 million and a 10% market share in the Fijian banking sector.