New commercial bank opens for business in Solomon Islands

A new commercial Bank, BRED Bank will open for business in Solomon Islands on Friday.

The bank received the final letter of authorization from the Central Bank of Solomon Islands (CBSI) on Monday.

Governor of CBSI Denton Rarawa issued the final letter of approval after the Central Bank carried out a final inspection of the premises and its banking chamber.

The CBSI says the opening of BRED Bank Solomon will allow businesses, corporate clients, and the general public opportunities to make choices of banking services available in Solomon Islands.

At the same time, the number of commercial banks in Solomon Islands has now increased to four.

The CBSI understands that BRED Bank Solomon will officially open its services to its client on Friday 11, August 2017.

According to BRED Bank Solomon, the new bank will be dealing firstly with the businesses and their employees, before opening up to the public.

BRED Bank Solomon main premises is located at Kukum area, next to the Didao Fuel Station.

The bank also has operations in Vanuatu and Fiji.


Photo supplied. Caption: BRED Bank head office in Honiara, Solomon Islands 


Charles Kadamana