The DFCC Group has been selected as consultants in the transformation of the Home Finance Company (HFC) of Fiji, a state-owned financial institution with a limited offering of products and services.
DFCC together with its subsidiaries Vardhana Bank and Synapsys has entered into a management contract with HFC, and will provide technical and advisory services in the areas of IT, Treasury and Trade Finance in order to launch its commercial banking operation by January 2014. This is a historic moment for HFC and the country of Fiji as it would be the country’s only local bank.
Initially incorporated in 1962, HFC was a licensed credit institution providing financing for housing, machinery and vehicles. Over the last five decades, HFC has grown into a well-established local financier now diversifying into offering commercial and consumer loans, asset financing and export financing.
Arjun Fernando, CEO of DFCC Bank, who has also been appointed to the Board of HFC stated, ‘DFCC Group is honoured to guide HFC in achieving this important milestone.
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