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BRED bank to open in Solomon Islands
00:51 am GMT+12, 10/08/2017, Solomon Islands

The Solomon Islands' first European bank will open its doors in Honiara on Friday.
 
The French BRED Bank was given the go ahead this week by the governor of the Central Bank of Solomon Islands Denton Rarawa.
 
Rarawa issued the letter of approval on Monday after a final inspection of the bank's premises and banking chamber.
 
BRED bank's venture into Solomon Islands' fills a gap left by Westpac when it was sold to Bank South Pacific in 2015.
 
It becomes the fourth commercial bank in Solomon Islands alongside the long established ANZ and domestically incorporated Pan Oceanic Bank.
 
Rarawa said BRED Bank's entry into the local market would improve the banking options available to businesses and individuals.
 
BRED Bank's other operations in the Pacific are in New Caledonia, Tahiti, Wallis and Futuna, Vanuatu and Fiji.


SOURCE: RNZI/PACNEWS


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