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Local banks close due to severe Tropical Cyclone

Nuku'alofa, Tonga

Tonga’s commercial banks will close on April 9 due to severe Tropical Cyclone Harold, which is expected to close in on Tonga tonight.

A change to the banking hours of BSP, ANZ, Tonga Development Bank and MBF was announced by the Association of Banks.

Today, Wednesday 8 April, the Tonga Development Bank, ANZ-Tonga and BSP closed at 2:00pm, while MBF is operating normal hours.

However, on Saturday, April 11 BSP and Tonga Development Bank will open half day on to allow customer withdrawals, desposits and access MoneyGram services only.

The banks will also close on the Friday and Monday Public Holidays over Easter.

Banks will resume normal hours on Tuesday, April 14.

ANZ-Tonga CoViD-19 measures

Meanwhile, CoViD-19 national lockdown is impacting businesses.

Yesterday in a statement, ANZ Tonga Country Head David Dudley said the economic downturn is becoming more acute for Tonga and other Pacific countries due to Covid-19.

The bank is offering loan repayment deferrals for up to six months for ANZ customers financially affected by Covid-19.

“Loan repayment deferrals mean that qualifying customers will not make principal and interest payments on their loans for up to six months, although interest will continue to be charged to the loan.”

These measures are in addition to fee removal and interest rate reductions already implemented by ANZ, he stated.