Results for Sponsored media release

BSP Tonga | Bank of South Pacific Tonga Limited (BSP) today announced a Net Profit after Tax of T$11.6 million for the financial year ending 31 December, 2024. The results are a 20.9% decrease from FY2023, attributed to an increase in loan impairments and inflationary pressures, which in turn saw an increase in Operating Expenses.

Na’e tuku atu ‘e he Pangikē Pule Fakafonua ‘a Tonga ́ ‘a e Fakamatala Fokotu‘utu‘u Ngāue Fakapa’anga (MPS) ki Fepueli 2025, hili hono tali ‘e he Poate ‘a e kau Talēkita ́. ‘Oku fokotu’u he MPS Fepueli 2025, makatu’unga ‘i he kei tokamālie pē ‘a e tu’unga fakalotofonua ́ mo fakatu’apule’anga ́ ‘i he kaha’u vave mai ́, ‘e kei hoko atu pē ‘a e kei faka’ai’ai pē ‘a e tupu faka’ekonōmika ́, mo fakamālohia e ngaahi founga ‘oku fakahoko ‘aki ‘e he Pangike Pule ́ ‘a e ngāue fakapa’anga ́ ke ola lelei, mo fakafaingofua’i e nō pa’anga ́.

Tongan organisations involved in internet technology, joined in the global celebration of “Universal Acceptance Day”. Universal Acceptance ensures that all valid domain names and email addresses—regardless of language, script, or length—work seamlessly across online platforms. The sessions on 4 March focused on how businesses, governments, and communities can adopt UA principles to create a more accessible and user-friendly Internet for all.

Kuo tali ‘e he kau Komisiona ‘o e Komisoni Ma’u’anga Ivi ke fakahoko atu ‘a e holo ‘a e totongi ‘uhila ‘aki ‘a e seniti ‘e 3.52 ki he kWh.  Ko e holo ‘aki ‘eni ‘a e seniti 2.22 ki he kWh pe ko e peseti ‘e 3.8% mei he kuata ‘o ‘Okatopa ki Tisema 2024 ‘i he taimi na’e seniti ai ‘e 91.69 ki he kWh.  Ko e totongi ‘uhila fo’ou ni ‘e kamata ngaue’aki ‘i he ‘aho 1 Sanuali, ko e seniti ‘e 89.47 ki he kWh. The Commissioners of the Energy Commission are pleased to announce a power tariff reduction of -3.52 seniti per kWh (kilowatt hour). This is a -2.22 seniti per kWh or -3.8% reduction from the quarter Oct-Dec 2024 when the power tariff was 91.69 seniti per kWh.  The new electricity tariff for Tonga is therefore 89.47 seniti per kWh, a decrease from the current tariff of 91.69 seniti per kWh.

In October 2024 Air Terminal Services (Tonga) Limited (ATS) was entered onto the International Air Transport Association’s register as having completed and achieved the highest available award being the IATA Safety Audit Ground Operations certificate (ISAGO). Mr Rene de Boer of the Netherlands, head of one of three international agencies for ISAGO, conducted the audit of ATS in March this year, and presented the certificate to ATS.

The principal statutory role of the Reserve Bank is to ensure and maintain at all times the financial stability of the  overall banking sector in Tonga. This calls for strong capitalisation and ample liquidity in all of the four banks under its licensing regime. Overall, there has been sufficient and ample liquidity in the banking sector in the past decade, to date. “The Reserve Bank reaffirms to the public its commitment to upholding its statutory mandate of maintaining the stability of the financial and banking system of the Kingdom,” stated Governor Moeaki.

‘Oku faka’ilonga’i ‘e he Pangikē Pule Fakafonua ‘a Tonga hono ta’u 35 ‘i he ‘aho Monite 16 Sepitema 2024 ‘aki ha toe makamaile māhanga ko e tupu fakapa’anga (net profit) kuo ‘osi hono ‘aotita’i ‘a ia na’e fe’unga mo e $35 miliona. ‘Oku lahi hake ‘a e tupu ko eni ‘i he 2024 ‘aki ‘a e peseti ‘e 75 mei he tupu fakahisitolia ko ia ‘i he 2023 ‘a ia na’e $20 miliona. Hili hono tali ʻe he Poate ‘o e Pangikē Pule ʻa e Fakamatala Pa’anga Fakata’u ‘a e Pangikē Pule kuo ‘aotita’i ‘e he KPMG Fiji ma’ae ta’u fakapa’anga ‘oku ‘osi ki he ʻaho 30 ʻo Sune 2024, naʻe foaki ai ʻe he Sea ʻo e Poate ‘a e Pangikē Pule, Lord Sevele ‘o Vailahi, ‘i he Fakataha Lahi Fakataʻu ‘o e 2024 ‘a e Pangikē Pule he ʻaho ni ha sieke ʻoku fe’unga mo e $25.1 miliona ki he Palēmia, Hon. Hu’akavameilku ko e ‘inasi fakata’u mei he tupu ‘a e Pangikē.

Kuo tuku atu ‘a e Fakamatala Fokotu‘utu‘u Ngāue Fakapa’anga ‘o ‘Aokosi 2024 ‘o e Pangikē Pule Fakafonua ‘a Tonga hili hono tali ia ‘e he Poate ‘a e kau Talēkita. ‘I he fengāue‘aki vāofi mo e Pule’anga ́ mo e ngaahi kupu kehekehe fekau’aki, ‘e fokotu’u ai ‘e he Pangikē Pule ́ ha ngaahi polokalama fakapa’anga fo’ou ‘o hangē ko ha polokalama nō ‘oku tuku atu ‘i ha totongi tupu ‘oku ma’ulalo (concessional credit), pea mo ha polokalama ki hono malu’i ‘a e ngaahi nō (credit guarantees). Ko e fakataumu’a ‘eni ke fakaivia ‘a e sekitoa taautaha ́ ke toe malohi ange ‘a e tupu faka’ekonōmika ́ ‘i he 2025 ́ pea faka‘ai‘ai ‘a e nō ki he ngaahi sekitoa ‘oku ‘ikai ke lahi ha’anau faingamalie nō mei he ngaahi pangikē, mo kinautolu ‘oku tu’u laveangofua ki he feliuliuaki ‘a e ‘ea ́.

The United Kingdom is supporting Pacific-led climate solutions with £12.9 million in new funding announced as Indo-Pacific Minister Catherine West joined Pacific 
leaders for the 53rd Pacific Island Forum Leaders Meeting in Tonga, on her first overseas visit.