ANZ Group CEO, Shayne Elliott has praised Fiji’s quick economic recovery and reaffirmed the bank’s long-standing commitment to the Pacific region.
Speaking at the Reserve Bank of Fiji’s Speaker Series, Elliott outlined ANZ’s enduring role in driving economic growth across the islands.
“Fiji has bounced back impressively from the pandemic downturn, with the economy now outperforming 2019 levels,” Elliott said.
“Leading the way in reopening borders to tourists was a bold move, and it’s paying off.”
ANZ, which first established a branch in Fiji in 1880, has been a pivotal financial player in the region for over 140 years. From its early days in Levuka as the Union Bank of Australia to its current Pacific headquarters in Suva, the bank has financed key sectors, from trade to infrastructure.
“Over the past five years, we’ve invested approximately FJD$140 million (US$70 million) in buildings, systems, and technology across the Pacific. We’ve also paid an average of FJD$110 million (US$55 million) annually in corporate taxes and support over 1,200 jobs,” Elliott noted. “This is more than business; it’s about contributing to the communities we serve.”
Elliott highlighted ANZ’s flagship financial literacy programme MoneyMinded, which has reached over 70,000 Pacific Islanders since 2011. The bank is also piloting its Saver Plus programme in Fiji and Vanuatu, helping market vendors save for business and education goals. Participants can receive up to FJ 500 in matched savings.
“Financial literacy is a cornerstone of our mission to shape a world where people and communities thrive,” he said. “These programmes empower individuals and support local economies.”
ANZ plays a crucial role in facilitating trade and payments in the Pacific. Elliott revealed that the bank handles about 25 percent of all payments into the Pacific and 15 percent of payments out, making it one of the region’s largest financial facilitators.
“Waiving key international money transfer fees since 2020 has been a game-changer for Pacific Islanders,” Elliott said. “We’re committed to reducing barriers and promoting financial inclusion.”
Elliott emphasised the importance of maintaining trust and strong relationships with regulators and central banks.
“Our open and constructive dialogue with regulators ensures we can support a safe and resilient banking sector,” he explained. “It’s about being transparent and collaborative, even when we disagree.”
The CEO highlighted ANZ’s focus on sustainable development, citing its financing of the Nadi International Airport upgrade as an example.
“Investing in infrastructure is vital for the region’s growth,” he said. “We’re here to support private sector investment and enhance financial inclusion.”
Elliott also looked ahead to ANZ’s future in the Pacific.
“Our history here is built on trust and partnership. We’re proud of our role in shaping the region’s economic landscape and remain committed to its sustainable growth.”
Elliott’s visit to Fiji is part of a broader Pacific tour, including stops in Samoa.
“It’s a privilege to witness the cultural and economic diversity of these markets,” he said. “The Pacific is thriving, and ANZ is proud to be a part of that journey,” he said.
