HFC Bank pays out $12m dividend to Fijians

HFC Bank has announced dividend pay out of $12.032 million to Fijians through their respective shareholders.

The Bank has declared dividends of $9.024 million to the Fiji National Provident Fund and $3.008 million to the Unit Trust of Fiji which hold shareholding of 75% and 25% respectively.

HFC Bank Chairman, Tom Ricketts says they are delighted to payout the dividend despite the difficult and challenging COVID-19 environment.

He says it is pleasing to see that the bank has performed remarkably well during this period and all their profits are retained and distributed to the Fijians.

HFC Bank CEO, Rakesh Ram says the bank has also suffered significantly during the pandemic with increased risk in asset quality from various hardship assistance to its customers.

He adds the underlying performance of the bank has been greatly affected by this global pandemic which had a ripple effect on the economy.