HFC Bank has announced a record dividend of $33 million for the financial year ending June 30, 2024. This dividend represents the highest amount the bank has declared in its ten-year history and contributes to a total of $63 million in dividends distributed over the last two years.
This milestone highlights HFC Bank’s solid financial status, as demonstrated by consistent annual growth of $100 million in net loan assets over the past six years, an expanding revenue base, improved efficiency, and a strong loan portfolio.
Chairman Mukhtar Ali expressed pride in the bank’s achievements, noting that the record dividend signifies HFC Bank’s strong performance and effective management. CEO Rakesh Ram credited the bank’s success to its strategic planning and operational efficiency.
Ram stated, “This milestone has been made possible by our long-term strategic partnership and genuine relationship with our loyal customers. Our innovative approach and strong desire to differentiate ourselves from traditional banking operators have set us apart in the market. Despite current resource constraints and easy access to overseas markets, we take pride in maintaining a 100% locally talented workforce, who are young, passionate, and fully committed to our bank’s success. Additionally, the strength of our growing loan book reflects the financial stability of the only Fijian bank.”