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HFC Bank Lending Book Grows

HFC Bank chief executive, Isikeli Tikoduadua, has confirmed the bank’s lending book has grown with $361 million in their portfolio. These figures come as the bank marks its one year
07 Mar 2015 10:11
HFC Bank Lending Book Grows
HFC Bank chairman, Tom Ricketts (front third left) and chief executive Isikeli Tikoduadua (front fourth left) with staff members of the HFC Bank this week as it enters into its first anniversary celebrations as a commercial bank. Photo: RACHAEL NATH

HFC Bank chief executive, Isikeli Tikoduadua, has confirmed the bank’s lending book has grown with $361 million in their portfolio.

These figures come as the bank marks its one year operations as a commercial bank in Fiji.

But, Mr Tikoduadua stressed they remain mindful that while they are raking in new business, these businesses have to be good.

“We have to ensure that our impact asset is contained,” he said.

“Up to now I believe we are the best in the sense of controlling our impact asset which is less than one per cent of our book.”

Mr Tikoduadua said expansion can also attract accounts which are not so good.

“So we have to ensure that when we grow, we grow smartly. So $361 million is our lending book size and this includes commercial and special loans,” he said.

He confirmed that when HFC went into commercial banking business, their book size was less than $200 million.

“So we have actually grown with our corporate clients and  business clients and we believe that this is an area we should go into for economic development in this country,” he said.

“When you look after commercial business, the tendency to help them grow can also create employment for consumers. So it creates this flow-on effect.”

Expansion plans

With one year now reached successfully, Mr Tikoduadua said they are mindful that they do not expand too rapidly.

“First we cement all the businesses that we have, get feedback from our business customers and the products that they want,” he said.

“If there’s a need to change/modify some of these products, we’ll do that before we look at expansion.”

In terms of long term expansion plans, Mr Tikoduadua said they are looking at some areas they feel has not been tapped.

“This is like Savusavu and Sigatoka. We find that there is potential growth there. Unfortunately other banks have started moving out from those areas,” he said.

“Nausori is a very good spot that we’ve identified also. There’s a lot of deposit in that area. So we believe that those are two to three years term our expansion programme will go in those areas.”

Feedback:  rachnal@fijisun.com.fj

 



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