Fiji Development Bank Presents its 2023 Annual Report to Parliament

Suva, Fiji. The Fiji Development Bank (FDB) has published its 2023 Annual Report which was also tabled in Parliament earlier this week.

FDB achieved remarkable growth in net profit, with a year-on-year increase of over 112%. This reflects the Bank’s robust performance and strategic initiatives.

Presenting a profitable and impactful year to Parliament was a significant achievement, symbolizing a vital trust vested in FDB. It not only reaffirms this trust but also strengthens the nation with a bank that serves as a foundational institution committed to empowering even the smallest entities with equal fervor and accessibility as the larger ones.

The Annual Report features key information such as the Bank’s activities in Finance and Administration, Financing for Sustainable Development, Business Risk Services, Climate and Eco-Finance, and Community and Environment: https://www.fdb.com.fj/wp-content/uploads/2024/04/FDB-AR-2023-v13.pdf

From the report, some of the key achievements by FDB includes its increased women portfolio from 19.16% to 26.09%, $40 million disbursed to the MSME sector to assist in the sector’s progress, 15 community engagements on a monthly basis, and 5,000 hours of employee training for the year. The report also highlights customer success stories.

The FDB CEO, Mr. Saud Minam, stated that behind every statistic in the Annual Report lies a story of resilience, opportunity, and human potential.

“At FDB, we measure our progress not only by financial growth but also by the positive impact we create for our customers and communities.”

“Our Annual Report isn’t just a reflection of our past year’s performance; it’s a blueprint for our future growth and impact,” he added.

FDB’s 2023 Annual Report details consistent and devoted initiatives aimed at impacting traditionally economically challenged sectors. Highlighting achievements in finance, sustainability, and community engagement, the report showcases real stories of success. From increased female representation to support for MSMEs and employee training, it reflects a commitment to people and to progress and it serves as a testament to FDB’s dedication to building a better future for Fiji. This is aptly captured in the Annual Report’s theme, ‘Building resilience, inclusiveness, and sustainable growth.’