History
HFC (Home Finance Company Limited) is a Licensed Credit Institution supervised by the Reserve Bank of Fiji that allows it to accept deposits (limited to Term Deposits) and provide lending facilities to its customers.
From its core business focus as the provider of Home Lending facilities for over 40 years, the company has re-strategised its business, in line with emerging market demands and shareholder expectations, to a wide range of quality products and services including Insurance, Term Deposits, Personal Loans and selected Business Lending facilities within its niche' market segment.
A brief history:
1962:
In June 1962, the Fiji Government together with the British Overseas Development Corporation (BODC) (now known as Commonwealth Development Corporation (CDC)) formed Home Finance Company Limited; CDC through its locally incorporated company Fiji Development Company (FDC). FDC had an initial shareholding of 67% and Fiji Government had 33%.
1971:
In March 1971, FDC and Fiji Government acquired equal shares (50% each)
1979:
Fiji National Provident Fund (FNPF) became a third equal shareholder in HFC.
1987:
Unit Trust of Fiji (UTF) became a fourth shareholder.
1989:
May 1989, all shareholders had equal shares.
1995:
In December 1995 Fiji Government sold its 25% shares to FNPF making FNPF a major shareholder at 50% with FDC maintaining management rights of HFC, under agreement by all shareholders.
2002:
In January 2002 FDC decided to sell its interest in HFC. FNPF, exercising its rights to purchase FDC's 25% shares, extended its major shareholding capacity to 75%.
Home Finance Company Limited has always been known to the people of Fiji as just a home loan provider. In 2002, the company decided to change this perception by changing its image in the market. As a result, the company went through a transformation phase to stamp its mark as more than just a loan provider. The company also changed its logo to a more vibrant look.
Today, HFC provides a range of quality lending products.
We are proud that we are totally Fiji-owned. Our focus is to provide our customers with excellent products and serving our people with a difference.