The Reserve Bank of Fiji has received an application from the Bank of South Pacific regarding the sale of the Colonial Fiji Group.
This has been confirmed by RBF's Barry Whiteside who said they are currently evaluating the application.
Bank of South Pacific general manager Greg Watson has confirmed they have not received any feedback on the evaluation at this stage.
The Commonwealth Bank of Australia and Bank of South Pacific from Papua New Guinea entered into a Sale and Purchase Agreement for the Fiji operations of the Commonwealth Bank.
The Bank of South Pacific agreed to purchase the National Bank of Fiji Limited trading as Colonial National Bank and Colonial Fiji Life Limited, including associated companies with the group.
Final completion of the transaction is subject to regulatory approval by the Reserve Bank of Papua New Guinea and Reserve Bank of Fiji.
RBF evaluates bank’s application
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