Results for Tonga Development Bank

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

The large stump of a century-old Ngatae tree (Coral Tree) outside the Tonga Development Bank in central Nuku’alofa has been carved a local artist Sitiveni Fehoko, who was commissioned by the bank.

Customers who took out loans from a Microfinance Scheme at the Tonga Development Bank held a Holiday Market Festival on December 4-5 to sell their locally made products and produce in Ma'ufanga.

A current attempt by the Tongan government to attract business investments, and to revitalize business growth by offering very low interest loans, so far appears to remain an unattractive proposition for businesses in Tonga.

The Tongan Government is offering for sale 40% of its shares in the Tonga Development Bank.

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

The Westpac Bank of Tonga closed down its branches in Ha‘apai and ‘Eua as it teams up with the Tonga Development Bank to deliver its banking services to customers in both the outer islands, effective today September 2.

The Tonga Development Bank has reduced its interest rates by 1% on customer loans, and has offered a 50% repayment reduction on all monthly loan repayments for three months, effective 1 May 2012.

The Tonga Development Bank will allocate a $2.5 million fund to be made available for loans to squash growers this year, according to the bank's Commercial Loans Manager, Simi Sefanaia.