Our average commercial banks’ lending rates are very close, if not lower, than that of our major trading partners, Australia and New Zealand. Financial developments Let me end with a few comments on financial development. I am glad to say that the financial system continues to be sound. Total assets continue to grow at a healthy pace.
The key prudential indicators of the banking system remain acceptable. The satisfactory performance of the financial system has been characterised by high levels of capitalisation, growing profitability and adequate liquidity. Given the increasing prominence of the Fiji National Provident Fund in the financial system, it is now under the supervision of the Reserve Bank of Fiji.