THE ANZ Bank recorded deposits of $10m from its rural banking scheme over the last five years -- a testimony of the wealth within the rural areas.
This was revealed by Norman Wilson, ANZ chief executive officer as he outlined the bank's efforts to reach low-income households at the recently held national microfinance workshop
From 2004 to 2009, ANZ Bank's rural banking scheme has reached 12 provinces, 303 villages and 171 schools in the country.
The service helped 73,585 rural dwellers open new bank accounts.
Mr Wilson revealed that the company's Corporate Social Responsibility framework released in October prioritised education and employment for disadvantaged communities, rural development, financial capability, responsible practices and urban sustainability. To date, ANZ has six teams serving in the various provinces on Viti Levu and Vanua Levu.
Tailevu and Naitasiri dwellers top the list of clients with a total of 14,680 account holders, followed by Cakaudrove and Taveuni at 12,541, Ba/Tavua at 13,454, Serua, Namosi and Kadavu at 11,422 and Nadroga/Navosa at 10,593.
While revealing the performance of the rural banking, Mr Wilson said over $2m had been given out as loans.
As the country tries to embrace a strategy on microfinance, Mr Wilson said his bank would strengthen its strategy with other stakeholders in continuing partnership with the government and non governmental organisations that serve rural communities. The ANZ bank will extend its rural banking services and diversify its products such as micro loans, small business and mobile phone banking.
Within the next five years, ANZ hopes to reach the Yasawas, Lomaiviti, Lau and Rotuma.
