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Results for Tonga Development Bank

Wednesday 3 July 2024

Nuku'alofa, Tonga
The National Reserve Bank of Tonga has been prohibited from publicly disseminating their directions, contained in a letter sent to the Tonga Development Bank on 17 May and 20 May, which was allegedly leaked in a radio broadcast. The Supreme Court of Tonga, Civil Jurisdiction, has granted the Tonga Development Bank (the Plaintiff/Applicant) leave for a judicial review. Among other things, the TDB is alleging possible damage to the reputations of the CEO Mrs Emeline Tuita and TDB Board Chairman Mr. Penisimani Vea.
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Monday 1 July 2024

Nuku'alofa, Tonga
An application by the Tonga Development Bank for an “ex parte” injunction, seeking return of the materials seized in a police search of its premises in May, was refused by a Supreme Court judge. The applicants claimed that the seizure went beyond the scope of the warrant and included documents “belonging to Project Polata'ane”. A judge ruled that if this is to be pursued it must be made ‘inter partes’ meaning both parties present, since the urgency of the matter claimed was not demonstrated.
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Friday 31 May 2024

Nuku'alofa, Tonga
Tonga Development Bank says it is taking legal action against Tonga Police following a police search of the bank's premises on Friday 24 May, where Police were acting on a complaint regarding an alleged breach of the Banking Act. UPDATED: The National Reserve Bank of Tonga told Matangi Tonga Online today, 4 June, that they had not made a complaint to the police regarding the TDB. “As this is an active police investigation, we cannot comment on the case but we can confirm that it was not NRBT who laid the complaint,” the NRBT stated.
Friday 17 May 2024

Nuku'alofa, Tonga
‘Eva ‘Ailolo (aka ‘Eva ‘i Pomana Tau’ese) is serving nine months imprisonment for embezzlement of $72,857 pa’anga from Tonga Development Bank accounts, while working as a teller in Vava’u.
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Friday 15 December 2023
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Nuku'alofa, Tonga
Tonga Red Cross Society (TRCS) this morning donated cash assistance of $500,000 for 632 families who were affected by the 2022 HTHH tsunami, in Tongatapu, ‘Eua and Ha’apai, in partnership with the Tonga Development Bank (TDB) who will distribute the cash assistance.
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Friday 28 October 2022

Nuku'alofa, Tonga
A charity for the disabled, the Mango Tree Centre at Houmakelikao, received donation of $5000 Pa’anga from Princess Angelika Latufuipeka Tuku’aho on 17 October.
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Friday 6 November 2020

Nuku'alofa, Tonga
An online remittance service, called ‘Ave Pa’anga Pau TDB Ltd., which will allows Tongans in Australia to send money to Tonga and vice versa, was launched today in Nuku'alofa.
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Friday 2 October 2020

Nuku'alofa, Tonga
An Implementation Agreement for the extension and expansion of the Government Development Loan was signed on October 1 by the Chief Executive Officer of the Ministry of Finance, Balwyn Fa’otusia, and the CEO of the Tonga Development Bank, Leta Kami. The scheme will run for another five years up to 2025.
Thursday 18 June 2020

Nuku'alofa, Tonga
‘Aleki Filikitonga (26) was sentenced to one-year six-months imprisonment, which was fully suspended, for theft of $28,000 pa’anga from the Tonga Development Bank branch in 'Eua.
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Sunday 15 September 2019

Nuku'alofa, Tonga
Commercially oriented, state-owned banks can help provide much needed financing for Businesses in the Pacific, according to a new Asian Development Bank report, “Finding Balance 2019, Benchmarking the Performance of State Owned Banks in the Pacific.” The report highlighted a financing gap in the Pacific that hinders business growth.
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Saturday 8 June 2019

Nuku'alofa, Tonga
A cheque for $7.5 million pa'anga was paid to the Tonga Development Bank from the Public Service Retirement Fund Board (PSRFB) for its purchase of a 15% shareholding in the government-owned bank, increasing the number of shareholders to three.
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Friday 7 September 2018

Nuku'alofa, Tonga
Tonga's National Retirement Benefit Fund Board has taken up a 15% shareholding of the government-owned Tonga Development Bank, under a current restructuring of its capital base. The Minister of Finance said that the legislative amendments will not only remove the TDB from being under the Public Enterprises Act, but also change the ministerial responsibility.
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Tuesday 31 October 2017

Nuku'alofa, Tonga
Fifteen students from the Tonga Institute of Science and Technology (TIST), received scholarships from the Tonga Development Bank CEO, Leta Havea-Kami on Monday October 30.
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Wednesday 12 July 2017
Nuku'alofa, Tonga
Tonga became a prospective member of the Asian Infrastructure Investment Bank (AIIB) in June.
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Thursday 30 March 2017

Nuku'alofa,Tonga
Tongan fishing ventures buying deregistered old fishing boats up to 80 years old from New Zealand, using a soft loan scheme offered by government, are running into trouble in unsafe and uninsured boats.
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Wednesday 15 February 2017

Nuku'alofa, Tonga
Tonga's economy is heavily dependent on remittances from Tongan communities overseas, but transferring money to Tonga has become challenging, Tonga's Prime Minister Hon. 'Akilisi Pohiva said yesterday, in launching a new voucher remittance service called 'Ave Pa'anga Pau, offered by the Tonga Development Bank.
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Sunday 15 May 2016

Nuku'alofa, Tonga
The Tonga Development Bank has won international recognition for offering financial services that are supporting small income generating projects among disadvantaged and low-income earners in Tonga.
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Tuesday 19 April 2016

Nuku'alofa, Tonga
The Tonga Development Bank this month offered new soft loan terms for borrowers from the government’s multi millions Business Investment Incentive Fund that has been administered by TDB since 2014.
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Wednesday 2 March 2016

Nuku'alofa, Tonga
The Tonga Development Bank plans to launch new commercial services this month, including foreign exchange and internet banking, as part of a three year expansion programme that began in 2014.
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Friday 5 June 2015

Nuku'alofa, Tonga
Tonga Development Bank paid a dividend of $848,433 pa’anga to the Government of Tonga, its only shareholder on Friday, 5 June.
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