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Banking

For Investors  >  Key Infrastructure Services  >  Banking
Fiji currently has a total of four (4) commercial banks operating:



Australia & New Zealand Banking Group Ltd (ANZ)

 

ANZ’s entry into the Pacific region dates back to December 16, 1880 when the Union Bank of Australia (est.1837) opened a branch in the old capital of Fiji, Levuka.
Now with three Prime Suites and 16 branches country-wide including a branch at Nadi International Airport and an agency at Nausori airport, ANZ continues the rich ANZ Fiji history stretching back over 128 years involving dozens of different banks.

ANZ is also the proud and only provider of Rural Banking Services in Fiji, with 6 teams serving a total of 471 communities and schools.

For more information on ANZ Fiji, please visit: http://www.anz.com/fiji/en/personal/
 

Westpac Banking Corporation

Westpac has a long and proud history in the Fiji. Then known as the Bank of New South Wales, Westpac opened a branch in Suva in 1901. Since then, Westpac employees have been actively involved in the community in partnerships with various organizations.
In recent times, Westpac has been involved in a variety of sponsorships and community-based initiatives.
Westpac has a total of 19 branches around Fiji.

For more information on Westpac, please visit: http://www.westpac.com.fj/

        
Bank South Pacific (BSP)

Bank South Pacific opened its doors in Fiji in December 2006. BSP is Papua New Guinea's largest commercial bank and also operates overseas branches in Niue & Solomon Islands with over 35 branches. BSP offers a broad range of banking products and services to both personal and business customers. BSP has a total of 64 branches throughout Fiji.

For more information on BSP Fiji, please visit: http://www.bsp.com.pg/fiji/fiji_islands.htm


Bank of Baroda

Bank of Baroda began its operations in Fiji on July 5, 1961 by opening the first branch in their premises at Mark Street, Suva. The second branch was opened in Lautoka in year 1963.Major development took place in the year 1966 when five agencies were opened. Later on, four agencies were converted into full-fledged branches. After span of five years, Labasa branch was opened in Vanua Levu and one more agency opened in Nausori. Now, they have Fiji wide presence with a network of 8 fully computerized branches.

For more information on Bank of Baroda, please visit: http://www.bankofbaroda-fiji.com/


Reserve Bank of Fiji


The functions, powers, and responsibilities of the Bank are specified in the Reserve Bank of Fiji Act, 1983 are as follows:

  • To regulate the issue of currency, and the supply,availability and international exchange of money;
  • To promote monetary stability;
  • To promote a sound financial structure; and
  • To foster credit and exchange conditions conducive to the orderly and balanced economic development of the country.
The Bank has six groups: Economics, Financial Markets, Financial Institutions, Currency & Corporate Service, Corporate Planning & Assurance & Financial System Development and Compliance. The key roles of each group are:
 

Financial Markets
The Financial Markets Group has primary responsibility for monetary policy implementation, registry and banking services, foreign reserves management and exchange control.  The Group ensures that the country’s foreign reserves are managed within the parameters of safety, liquidity and profitability.
 
Financial Institutions
The Financial Institutions Group’s major functions are to supervise the financial system by licensing, formulating and implementing prudential policy guidelines for financial institutions.  The Group’s other functions include the development and strengthening of institutional infrastructure to prevent money-laundering activities.
 
Currency and Corporate Services
The Currency and Corporate Services Group is primarily responsible for ensuring the issue of an adequate supply of quality currency.  The Group is also responsible for all the Bank’s internal services, including: accounts and financial reporting; human resources; information technology; plant and properties; security; records management; corporate projects; library and general administration.

Corporate Planning and Assurance
The Corporate Planning and Assurance Group’s core functions are assurance, risk management, corporate coordination, public relations and monitoring the Reserve Bank’s quality performance management programme.
 
Financial System Development and Compliance
The Financial System Development and Compliance Group's role is a development and monitoring one in the areas of microfinance, financial institutions complaints, fees and charges, remittances, demonopolisation of Fiji National Provident Fund, Local Advisory Boards for commercial banks, small medium enterprises, rural banking and financial literacy. 

For more information on the Reserve Bank of Fiji, please visit: www.rbf.gov.fj