Chief Executive, Thierry Gillot

BRED Bank is committed to growing its operations in Fiji and plans to invest over $33 million in the country in the coming months.

Chief Executive, Thierry Gillot confirmed this during a Speed Business Meeting organized by the French Embassy in Suva today.

The bank currently has six branches around the country and Gillot says they are planning to open more branches soon.

“Because we are very confident in the Fijian economy we have decided to invest a lot in 2023 in Fiji so we will invest more than $33 million Fijians dollars to open new branches in RB Center Point next month in May and later in September we will open a branch in Labasa.”

Gillot adds their customer base is also increasing.

“We are happy to say that more and more Fijians are confident to bank with BRED bank and now we have 40,000 individuals and 1700 companies, businesses who bank with BRED bank.”

Gillot adds that the interest rate war is also competitive and they provide four percent on home loans.

[Bred Bank/ File Photo]

The bank is also working on phasing out of cheques by 2024 as announced by the Association of Banks earlier this year.

He says they are working with the ABIF together on this.

Bred currently employs 180 staff and plans to recruit more.