BRED Bank Solomon opens its Doors To Businesses and Employees

BRED Bank opened its doors to Solomon Islands businesses and their employees. BRED Bank Solomon is part of the BPCE Group with its headquarters located in Paris, being the second largest financial institution in France, employing 108,000 staff and serving 35 million customers globally. BRED Bank Solomon customers can therefore be assured that their deposits are in safe hands.

BRED Bank Solomon chief executive officer Owen Thomson in opening the Kukum based branch stated that they planned to open in two stages: first stage will be focused on providing banking services to the businesses and their employees. In the second stage, the Bank will open to the general public and is due to be completed by the end of this year. BRED Bank Solomon will provide a wide range of products including cheque, savings and term deposit accounts, plus electronic banking services such as ATM’s and Internet Banking. BRED Bank Solomon will start with over 35 staff increasing to approximately 70 after stage 2 is completed.

The Central Bank of Solomon Islands (CBSI) said the opening of BRED Bank Solomons will allow businesses, corporate clients and the general public opportunities to make choices of banking services available in the Solomon Islands. The opening of the new branch was also the occasion to announce the start of banking relationship between the Solomon Islands National Provident Fund (SINPF) and BRED Bank. SINPF has invested SBD50m into BRED Bank through a term deposit.