The Reserve Bank of Fiji (RBF) has turned in a massive profit of $120.6 million for the 2025-2026 financial year ending July 31, marking the fourth consecutive year the central bank’s earnings have crossed the $100m threshold.
The windfall was officially approved by the RBF Board yesterday and a total of $117.98m transferred to the Government.
This final payout was calculated by taking the $120.6m net profit, adding a $0.7m transfer from the Unrealised Revaluation Reserve Account to offset unrealised losses, and deducting a $2.4m prior year adjustment alongside a $1m transfer to the general reserves.
RBF governor Ariff Ali said they derived 75 per cent of their income from the interest income on foreign reserves and almost one quarter from domestic bond interest or other interest income.
He said they were expecting a profit of close to $100m, considering the volatile global environment and interest cuts in their key markets.
“But given that there was some increase in interest rates, we managed to increase our profit to $120m,” Mr Ali said.
Minister for Finance Esrom Immanuel said the transfer of the profit to Government reflected prudent management of the nation’s foreign reserve and demonstrated the important contribution of the Reserve Bank to Fiji’s economic development.
“The bank’s role in safeguarding monetary and financial stability underpins investor confidence and supports the continued growth and resilience of our economy,” Mr Immanuel said.
In response to questions from this newspaper, the Minister said the money would be part of the Government’s revenue pool that will be used during the financial year.
“There’s no objective for the fund, it will be part of the revenue pool,” he said.
Over the past five years, the RBF has contributed some $548m in total profits to the Government.
The RBF was also commended for its clean audited accounts that were finalised after two months of the end of the financial year, which according to the Act is required to be audited and signed within three months.
Ariff Ali.
Picture: JONA KONATACI
