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Bank Of Baroda Aims For $10 Million Profit

The Bank of Baroda (Fiji) is expected to make $10 million profit with almost reaching their business volume of $900 million. Fiji operations chief executive Rajput Govindsing Babusing revealed this
25 Nov 2016 11:00
Bank Of Baroda Aims For $10 Million Profit
Bank of Baroda Fiji Operations Chief Executive Govindsing Rajput (left) with businessman during their cocktail party in the Nadi branch on Wednesday night. Photo: WAISEA NASOKIA.

The Bank of Baroda (Fiji) is expected to make $10 million profit with almost reaching their business volume of $900 million.

Fiji operations chief executive Rajput Govindsing Babusing revealed this during the cocktail party in Nadi branch last Wednesday night.

“This year was tough for us due to Tropical Cyclone Winston because there was a slowdown in activity initially but it has now picked up.”

Mr Babusing commended the Fijian Government for their support towards the commercial banks that also contributed immensely to the economic growth.

“It’s very good, since we are the compliance bank with all the rules that’s concerned from the Reserve Bank of Fiji as well as to the Reserve Bank of India,” Mr Babusing added.

“Our operation started in 1961 nearly completing 55 years of survival is due to the patronage and support of the general public of Fiji.

“With that support we do get, this is best time to show our patronage as we near Christmas and without the support of the customers we won’t be able to be a success.”

 

Demonetisation no effect to Fiji

The demonetisation in India will not affect Baroda’s operations in Fiji since they do not deal with Indian currencies.

Mr Rajput commended the Indian Prime Minister Narendra Modi for the strategies he put in place.

“It will give a good impact once it has been implemented,” he added.

“There will be no effect (in Fiji) because we don’t deal with Indian currency here because it is a matter of withdrawal of currency in India in order to curb the black money and tax evasion.

“There will be good fruit but some initially set back in order to pass but it has a good impact.

“We can see the result that once the implementation takes place.”

Meanwhile, the cocktails will continue in the other seven branches nationwide with Labasa scheduled for November 30.

EDITED BY: FARZANA NISHA

Feedback:  waisean@fijisun.com.fj



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