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The HFC Bank held its AGM today 20th October 2015. The Board of Directors and CEO announced an impressive Net Profit of $6.05m for the Financial Year ending June 2015.
This is HFC Banks 1st complete Financial Year as a fully-fledged commercial bank. HFC transitioned into banking business in March 2014. The banks profit is up by 32% compared to the results of last Financial Year. This is a milestone achievement as it records the Highest net profit after tax and with Banking operation.
The Bank’s Board of Directors and CEO paid 60% of NPAT in dividends to it 2 shareholders Fiji National Provident Fund (Payout $2.7M and Unit Trust of Fiji payout sum of $907k.
HFC Bank is 100% local owned – 75% shares owned by FNPF and 25% by Unit Trust of Fiji. Its profits are given back to the people of Fiji by way of shareholders return to FNPF and Unit Trust of Fiji.