Reserve Bank of Fiji Signals Record Profit for Government

The Reserve Bank of Fiji (RBF) has announced a significant financial achievement, revealing that over the past five years, it has transferred $462.9 million in profit to the Fijian Government. Most recently, for the 2024-2025 fiscal year, Governor Ariff Ali confirmed a transfer of $146 million, highlighting another record-breaking profit of $146.2 million.

This marks an impressive continuation of the bank’s ongoing success, building on a previous record profit of $135.5 million for the prior fiscal year. These financial results underscore the RBF’s effective financial management, with credit given to their robust foreign reserves strategy, prudent investment approaches, and the exploitation of favorable global interest rates.

Governor Ali expressed gratitude to the RBF staff and board for their contributions to this financial accomplishment, remarking on the sustained profitability that benefits the government as the sole shareholder of the bank. Through these profits, the RBF has considerably aided Fiji’s economic landscape by transferring substantial amounts to the government’s coffers, contributing essential funds that bolster national finances.

Acting Prime Minister and Finance Minister Biman Prasad commended the RBF’s performance, acknowledging the timely delivery of audited financial statements. The consistently significant transfers of profits from the RBF have provided a boost to the government’s financial resources, reflecting the RBF’s commitment to fulfilling its fiscal responsibilities, particularly in challenging economic times.

Looking ahead, the RBF is poised to adapt its strategies in response to global financial trends and potential risks posed by geopolitical and trade dynamics. This proactive approach signals the bank’s strategic readiness to navigate future uncertainties.

In summary, the Reserve Bank of Fiji’s continued financial success is a testament to its effective management and strategic operations, reasserting its role as a pivotal entity in supporting Fiji’s economic health and stability.