TDB Managing Director and CEO, Leta Kami with Hon Fe‘aomoeata Vakata. Nukunuku, Tonga. 27 November, 2013. Photos courtesy Tonga Development Bank.   

The Tonga Development Bank (TDB) opened a new Hihifo district branch at Nukunuku on 27 November, its eighth branch in Tonga.

Leta-Kami the bank’s Managing Director and CEO, said that Nukunuku is an ideal location because it is central to the villages on the western district (Hihifo) for their banking needs.  

The Prime Minister Lord Tu’ivakano who opened the new branch at the Tu’ivakano Poutele Hall said that while there were three other commercial banks in operation and a new International Commercial Bank from China to open next year, TDB maintained its position as leading development financing institution for Tonga, its communities and people.

He said the bank continued its commitment in promoting Tonga’s economic and social advancement by providing high quality and responsive development banking and other selected commercial services.

"It’s a vision shared by the Government of Tonga and the bank that this financial institution be recognized as Tonga’s best provider of development finance with selected commercial activities, which employs prudent banking principles to meet customer needs, demonstrates integrity and operates profitably."

The bank has loaned out $45 million pa’anga to agriculture, women’s development project, fisheries, construction, home development, school fees, tourism and other areas. It is now reported to have 9,900 customers and over the past three-years an average of $17 million pa’anga was loaned out for economic related activities, which had helped boost the business sector in Tonga.

The bank marks its 36^th year of banking service in Tonga this year.