Acting Prime Minister and Minister for Finance Biman Prasad on Wednesday received the transfer of $146 million in profits from the Reserve Bank of Fiji, together with the presentation of the Bank’s audited financial statements for the year ending 31 July 2025.
Speaking at the handover, Prasad congratulated the Bank on achieving another record result.
“I would like to congratulate the RBF for making another record profit, surpassing the $135.5 million profit achieved in the last financial year. The increased level of profits over the last two years has been significantly driven by the high level of foreign reserves and higher interest rates in our trading partner economies for most of the year,” he said.
Prasad noted that while profitability is not the central bank’s main objective, the RBF has demonstrated sound financial management while meeting its mandates.
“As a central bank, making a profit is not the Reserve Bank’s primary objective. Nevertheless, the Bank has recorded strong profits while successfully meeting its monetary policy objectives of maintaining an adequate level of foreign reserves and stable inflation,” he said.
As of 16 September, foreign reserves stood at $3.89 billion, equal to 6.1 months of retained imports of goods and services, reflecting a strong balance of payments position. Inflation has also remained low, with Prasad highlighting recent positive trends.
“Inflation has been in negative territory for seven consecutive months, which means that since February this year, overall prices have been coming down compared to the same period last year. The inflation rate was recorded at minus 3.5 percent in August 2025, compared to 3.8 percent in August last year,” he said.
Acknowledging the Bank’s stewardship, Prasad said the profits reflect prudent management of Fiji’s reserves and investments.
“The exceptional profit reflects the Bank’s prudent management of the nation’s foreign reserves and its ability to capitalise on the high-yield investments offered by global financial markets,” he said.
He further emphasised the wider role of the central bank in supporting Fiji’s development.
“In a developing country like ours, one of the most important contributions of a central bank is to ensure macroeconomic stability, creating confidence and an environment conducive to increased levels of investment, leading to sustainable economic growth and development,” he said.
