Results for Tonga Development Bank

Damages amounting to over $20 million pa’anga in total were awarded to the plaintiffs, the Tonga Development Bank and its CEO 'Emeline Tuita and Board Chairman, Penisimani Vea, in a landmark "judgment in default" by made by the Lord Chief Justice Bishop on 23 September, against the Reserve Bank, its Governor, a local broadcaster and a journalist.

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.

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.

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.

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.

‘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.

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.

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.

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.