The financial year 2021 was certainly a historic year for BRED in Vanuatu with a series of milestones achieved. To mention a few – BRED recorded its highest ever net profit pitching at Vatu 544.4 MM, well supported by its net banking income which was also a peak, and broke its previous record in lending volume reaching 38.0% market share.
Even after its 14 years existence, BRED in Vanuatu continues to aim high and remains the leading bank with funds under management exceeding Vatu 52 BN at the end of December 2021.
A true success story for being the first ever green field subsidiary of the Group outside of France.
Union Pay International Cards acquisition on BRED BANK Vanuatu ATMs
BRED Bank Vanuatu continues to expand its electronic banking services. UPI cardholders are now able to use all BRED Vanuatu ATMs across the country.
With the reopening of the country’s borders soon, BRED Bank Vanuatu is ready to welcome tourists back into Vanuatu.
Special covid-19 banking facility guidelines for smes and large businesses
The Ministry of Finance and Economic Management (MFEM) in April announced a Vatu 900MM Special COVID-19 fully secured Banking Facility to include any lending to small and medium sized enterprises (MSMEs) and large businesses that have been under financial stress due to the pandemic and in readiness as borders are soon set to reopen.
BRED Bank Vanuatu has been actively involved in supporting the recovery of the Vanuatu economy and has been selected as the bank of preference for this fully secured facility.