Bred Bank

New commercial bank opens for business in Solomon Islands

The bank received the final letter of authorization from the Central Bank of Solomon Islands (CBSI) on Monday.

Governor of CBSI Denton Rarawa issued the final letter of approval after the Central Bank carried out a final inspection of the premises and its banking chamber.

The CBSI says the opening of BRED Bank Solomon will allow businesses, corporate clients, and the general public opportunities to make choices of banking services available in Solomon Islands.

At the same time, the number of commercial banks in Solomon Islands has now increased to four.