This website uses cookies to ensure you have the best experience. Learn more

A Case Study Of Banks In Fiji

4467 words - 18 pages

A CASE STUDY ON BANKS IN FIJI

COMPILED BY: SHINAL PRIYANKA CHAND

1 INTRODUCTION
Fiji has a well developed financial system that not only is secure and sound but has remained flexible despite the recent global financial crisis. The strong involvement of the banking industry to the Fiji Financial System has been a major factor in this regard. Over the years the Banks have invested heavily in Fiji and have remained committed to delivering services that have helped shape and develop our country into what it is today.

At the end of 2010 the commercial bank’s assets alone was approximately 42% of the entire financial system and this ...view middle of the document...

The downward movements in interest rates expected to provide incentives, for investors to borrow and pursue business opportunities, raise household’s disposable income and more importantly boost the economic recovery.

1.1 BACKGROUND OF THE STUDY
The Association of Banks in Fiji ("ABIF") was created, in 1971 to accomplish a requirement for the banking industry to have a sound and effective financial institution in Fiji. The Association's membership consists of all licensed commercial Banks presently operating in Fiji under the Banking Act.

The ABIF is recognized as the representative body for the nation's banking industry, promoting and protecting the interests of its member-Banks. The Association considers, represents and makes known the views of its member-Banks on legislative, economic, fiscal, and monetary or matters of national importance.

Fiji’s pioneer bank—the Fiji Bank and Commercial Trading Limited—was taken over by the Bank of New Zealand (BNZ), after only 3 years of operation.  BNZ in turn was taken over by the Australia and New Zealand Banking Group (ANZ) in 1990, bringing to end the operation of the longest serving bank at the time—114 years; the second longest serving at the time was Westpac Banking Corporation (WBC)—89 years at the time.

The acquirer of BNZ’s operations, ANZ, which opened its Fiji branch in 1952, is today the largest bank in the industry, controlling around 43% of total banking assets in 2010.  ANZ’s growing governance is a result of a number of acquisitions over many years, including Citibank (1970–78), Barclays Bank International (1972–85) and Bank of Hawaii (BOH; 1993–2001). 

The second largest bank in Fiji today is WBC, controlling around 29% of total banking assets in 2010.  The bank established its Fiji branch in 1901 and is thus also the oldest bank currently operating in the country—111 years.  WBC’s acquisition includes Honk Kong and Shanghai Bank Limited (1986–1988). 

And our own National Bank of Fiji, as you might recall, was acquired by CNB (51%) in 1999 with the remaining 49% in 2006.  Of course, CNB was acquired by Bank South Pacific (BSP) in 2009.
1.2 OBJECTIVES
My objective of this study is to evaluate the recent developments that have taken place in the banking industry. These developments in the financial institutions exert a powerful manipulation on economic expansion, poverty alleviation and stability of economies.
Some prominent industry-related initiatives that ABIF has either initiated or participated in since the beginning of this millennium are:
 
(a)     Conversion of Banks’ security documentation to a reduced, A4 dimension in consultation with the appropriate authorities, and modernising prescribed forms.
 
(b)     Establishment of a Credit Reference/Data bureau with a potential to extend coverage wider than Fiji.
 
(c)      Facilitation of improved cash transportation arrangements for its member-Banks.
 
(d)     Extensive review and...

Other Papers Like A Case Study Of Banks In Fiji

Advocacy In Human Services - A Case Study

2287 words - 10 pages Under the Rainbow Inc. began when a group of four socially conscious people discovered a dire need for quality, unbiased welfare support without prejudice or borders and became an 'incorporated association' in February 2007.Since its inception, Under the Rainbow Inc. has been committed to excellence in the delivery of social welfare services based on their principles of charity, care and compassion. A range of services designed to promote

A Case Study of Currency Crisis

1192 words - 5 pages A Case Study of Currency Crisis: The Russian Default of 1998 Background of Russia Russian Federation was formed in 1991. The country tried to maintain a fixed exchange rate however, Russia had a “fragile fiscal position”(Economic Report)  which turned unstable as the world markets changed. Up until 1997 Russia had slow but eventually a year of positive economic growth, at which point the country started to stumble. Russia launched a

A Case Study of Homeless Students

948 words - 4 pages inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used (p. 23). It presents details on a bounded event or participant experiencing the event. Case study has its roots in anthropology, sociology, and psychology, but gained legitimacy as a valid methodology for use in other fields of study in the 1980

A Case Study of Abc Company

1315 words - 6 pages A Case Study of ABC Company COMM/215 Essentials of College Writing 8 May 2014 A Case Study of ABC Company What follows below is an analysis of the ABC Company’s hiring and training practices. In reviewing the events as described, many issues have surfaced regarding the assigned recruiter, Carl Robins and the human resources and training practices of the ABC Company. There are numerous examples of disorganization, lack of following

Effective Communication Case Study Analysis Of: There's A Syringe In My Pepsi Can!

815 words - 4 pages In most cases it seems that when crisis occurs, it takes the organization by surprise and the worst case scenario is usually reached due to a lack of any or an effective control and response system. It is apparent in the case study "There's a syringe in my Pepsi can!" certain crisis could have been averted what is not apparent is how early warning systems can be designed evaluated and put into an effective practical use. Effective communication

Religion and Politics in Nigeria, a Case Study of Nigeria's First Repulic

4576 words - 19 pages BACKGROUND OF THE STUDY By way of introduction several religions in Nigeria exist, helping to accentuate regional and ethnic distinctions. All religions represented in Nigeria were practiced in every major city in 1990. However, Islam dominated the north and had a number of supporters in the South Western, Yoruba part of the country. Protestantism and local syncretic Christianity are also in evidence in Yoruba areas, while Catholicism dominates

System Dynamics in Business Forecasting: a Case Study of the Commercial Jet Aircraft Industry

5324 words - 22 pages System Dynamics In Business Forecasting: A Case Study of the Commercial Jet Aircraft Industry James M. Lyneis Senior Vice President Pugh-Roberts Associates 41 William Linskey Way Cambridge, MA 02142 May 1998 Abstract Forecasts of demand, revenues, profits, and other performance measures are a common input to managing a business. And while we intellectually appreciate the difficulties with forecasts, the use of assumptions about the future is

A Transco Case Study

1952 words - 8 pages and reform of gas trading arrangements. Transco is highly information-rich. Its cutting edge computer systems and technological knowhow run the gas transportation network and underpin the competitive market in domestic, industrial and commercial gas supply. This case study focuses on changes to the gas industry in recent years. Few organisations exist within a market that changes almost by the hour. Transco is able to cope with changes in

A Google Case Study

3508 words - 15 pages , Google has eliminated competition by gaining the trust of Microsoft. All its tools are operated on its biggest competitor Microsoft systems. However, Microsoft and Apple could change their operating systems so that it does not support Google anymore leading to Google tools not working properly and causing a threat of forward integration. In this case, is it concluded that the supplier power is relatively low due to most of the information on the

Analytical Study Of Npa Of Three Nationalised And Three Foreign Banks

2653 words - 11 pages . This is a Descriptive research. Data Collection Method Secondary method of data collection: Our research methodology involves collection of data from yearly reports of the banks and their analysis. Here in this case we have taken three public sector banks of India on the random selection basis. The banks of India are UCO BANK, CENTRAL BANK OF INDIA and INDIAN OVERSEAS BANK and the Foreign Banks under study are STANDARD CHARTER BANK, CITI

Apple Inc. - A Case Study In External Communication

1758 words - 8 pages Karen Romero WRIT 340 – Section 66748 20 November 2013 Apple, Inc. A Case Study in External Communication Executive Summary Background: On June 25, 2010 Apple released the iPhone 4. With its sleek, new, stainless steel frame design, thousands of people rushed to buy Apple’s latest gadget. Apple and its partner carriers received 600,000 pre-orders for the iPhone 4s in the first 24 hours, making it the largest number of pre-orders Apple

Related Essays

A Study On Commercial Banks In Kenya, Case Study Cooperative Bank Of Kenya

1814 words - 8 pages . The Co-operative Bank opens for business on 10th January 1968 with a modest capital base of Kes 255,000. The Government supplements the capital with a Kes 214,000 interest-free loan repayable in 10 years. The Banking Act, however, requires banks to have a minimum capital of a 'staggering' Kes 2 million. The Government grants an exemption and offers a grace period within which the required capital is to be raised. The Commissioner for Co

Fiji Case Study

2047 words - 9 pages  International Marketing Strategy CASE STUDY FIJI WATER AND CORPORATE SOCIAL RESPONSIBILITY – GREEN MAKEOVER OR “GREENWASHING”? NGUYEN Trang SHAN Yan XU Yuwei ZHAO Wenting November 18th, 2014 Introduction In 1993, David Gilmour established a company named Nature’s Best with the product is Fiji natural artesian water. In 1996, the company ‘name was changed to Fiji Water LLC and

History Of Sugar Industry In Fiji

1223 words - 5 pages Sugar cane is thought to be indigenous to the islands of the South Pacific. It was found growing in Fiji by the early European discoverers and settlers. Fijians grew sugar cane for chewing and they are known to have used the juice for sweetening food. The first sugar produced in Fiji was made on the island of Wakaya by Mr. David Whippy in 1862. In 1872 Brewer and Jsoske erected a small experimental sugar mill in Suva, followed by a larger mill

History Of Accounting Regulation In Fiji

1584 words - 7 pages performance of a company is one of the most important (and direct) factors affecting its share price, companies were under constant pressure to show positive revenue streams... | | Worldcom: The Ebbers Angle During the 1990s, Ebbers borrowed more than $ 1 billion for personal purposes from various banks. He pledged his WorldCom stock as collateral. When the prices of the WorldCom stock began declining in the early 21st century, Ebbers' lenders