HFC Bank, Fiji’s very own fully locally-owned and operated commercial bank, the only one since the collapse of the ill-fated National Bank of Fiji in the 1990s, has declared a record dividend of $34.5million for its financial year ended June 30, 2025.
This, it said, is “the highest in the Bank’s 10 year history” and brings to $100m the total dividend it has paid out to Fijians over the last three years through its two mega shareholders Fiji National Provident Fund (FNPF) and the Unit Trust of Fiji.
“From humble beginnings under challenging circumstances and in a highly competitive market, HFC Bank has grown to become Fiji’s most successful homegrown financial institution,” the bank said when announcing its financial results for the year.
“We are 100 per cent Fijian-owned and proudly operated by 100 per cent Fijian staff, a team of young, dynamic and dedicated professionals committed to excellence and service to our people.”
Chief executive officer Rakesh Ram, who has headed HFC Bank since 2018 and helped uplift its profit performance from $12m to $43m, grown its assets from $956m to $2.33billion and transformed efficiency from a cost to income ratio of 50.8 per cent to 33.5 per cent, said the tasks and challenges have never been easy considering the constant public scrutiny put on HFC as a local bank.
“Despite this, what we have achieved in the last five years has been a mere impossibility,” Mr Ram said.
“This has been achieved through simply being different, creative and bringing back the traditional and basic banking philosophy of ‘customer relationship’ and ‘value adding’.”
Key highlights for HFC Bank’s 2025 financial year:
-Operating profit of $57m and NPAT of $43m,
-Consistent growth: $100m annual increase in net loan assets for six consecutive years,
-Revenue base: steadily expanding across key sectors, predominantly corporate segment,
-Efficiency: Cost-to-income ratio below 35per cent
-Non-performing Assets below 3per cent, matching international benchmarks,
-Returns: Over 15per cent Return on Investment to shareholders,
-Sound Capital Adequacy of 25per cent against regulatory requirement of 12per cent,
-FRCS Gold Card Member: one of the highest taxpayers in the country.
