Nuku'alofa, TO: On Wednesday morning, November 27, the Honourable Prime Minister, Lord Tu’ivakano opened a new branch of the Tonga Development Bank (TDB) in the Western District of Tongatapu. This new office is based at the Tu’ivakano Poutele Hall in Nukunuku.
In addressing the occasion, the Prime Minister said that,” TDB continues its commitment to promoting Tonga’s economic and social advancement by providing high quality and responsive development banking and other selected commercial services, while operating professionally as a profitable and financially sound development financing institution.”
“It is 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”, highlighted the Prime Minister.
While there are three other commercial banks in operation and a new International Commercial Bank from China to open next year, the Tonga Development Bank maintains its position as leading development financing institution for Tonga, its communities and people.
The Bank has loaned out T$45 million pa’anga to agriculture, women’s development projects, fisheries, construction, home development, school fees, tourism and other areas.
It is now reported to have more than 9900 customers. Over the past 3 years, an average of $17 million pa’anga a year is loaned out for economic related activities which helps boost the business sector in Tonga.
Nukunuku is an ideal location as it is central to the villages in the Western District and will reduce expenses for these residents in commuting to Nuku’alofa for their banking needs. The Hihifo Office will also carry out all banking services offered at the Bank’s Head Office in Nuku’alofa.
Villages from Fatai to Ha’atafu and Ha’alalo to Houma will be serviced from this Hihifo District Office at Nukunuku. Similarly, the Eastern District of Tongatapu is serviced by the TDB’s Hahake District Office at Tatakamotonga
The Tonga Development Bank- Your Partner in Development marks 2013 as the 36th year of providing development banking services to the people of Tonga. TDB is committed to continue reaching out and making banking services conveniently accessible to all its valued customers.