Total investments of credit institutions increased by 62.1 per cent to $28.5 million as at June 30, 2020, as per the Reserve Bank of Fiji’s August 2019-July 2020 Annual Report.
The RBF stated that government bonds continued to account for the major share of investments at 99.2 per cent.
According to the annual report total deposits continued to grow and stood at $530.1m as at June 30, 2020, an increase of 13.4 per cent, which was slightly higher than the 12.6 per cent growth recorded in 2019 ($467.7m).
In the review period the RBF continued to assess the credit institutions’ capital position as strong while earnings were at satisfactory levels, for the year.
The central bank however noted that asset quality continued to be assessed as poor and liquidity levels were marginal, resulting in an overall marginal prudential assessment.
While total assets of the credit institutions grew by 13.7 per cent over the year to $824.7m, it was slightly lower than the 15.4 per cent growth recorded in the same period last year.
Lending to private individuals recorded the highest increase of 16.9 per cent to $235m while lending to private sector business entities and public enterprises declined.
