Turning to Fiji’s financial system, I am pleased to confirm that this continues to be sound. Developments in the various sectors have been reflective of the growth in the total assets of our financial institutions. The key prudential indicators of our banking system also remain favorable.
The satisfactory performance of the banking system is attributed to: •  Strong levels of capital;  •  Satisfactory asset quality;  2  BIS central bankers’ speeches  •  Adequate liquidity;  •  Good management;  •  Sound profitability; and  •  Revived lending trends after a sustained period of benign growth  There has also been a rapid development of innovation in the domestic financial sector with growth in areas of mobile banking, electronic banking initiatives and ATM and EFTPOS interconnectivity, to name a few.