Tonga Development Bank

logo-tonga-developmentbankBoard of Directors

Director Position Expiry
Lord ‘Afu’alo Matoto Chairperson Until reform is complete
Mr. Obey Samate Member Until reform is complete
Mr. Paula Taumoepeau Member Until reform is complete
Ms Lepaola Vaea Member 18th Feb 2017
Ms Leta Kami (Managing Director) Until contract expires

Government has determined that Tonga Development Bank’s board will be restructured as a shared board. Appointments and reappointments are pending the outcome of that reform process.


The Tonga Development Bank (TDB) is established under the Tonga Development Bank Act (TDB Act). The main function of the Bank is set out in Section 6 of that Act “to promote the expansion of the economy of Tonga for the economic and social advancement of the people of Tonga by giving financial and advisory assistance … any enterprise operating or about to operate in Tonga.”

In carrying out its functions the Bank shall have regard to the prospects of the enterprise to whom it is lending money being successful and the prospects of repayment of any finance made available by the Bank; and the general economic policies of Government as conveyed in writing by the Minister of Finance.

The Bank commissioned a report in 2013 to ascertain the viability of expanding its product range to include commercial services such as cheque accounts; foreign exchange; bank overdrafts; and transactional banking for public enterprises and government. The review confirmed that it would be financially viable for the bank to provide these additional services. Cabinet and TDB’s board endorsed the review’s findings in 2015.

TDB operates branches on outer islands and provides agency services on some outer islands for commercial banks.

The powers of the Bank are set out in Section 7 of the TDB Act. TDB is supervised by the National Reserve Bank of Tonga.


To be recognized as Tonga’s outstanding provider of development and commercial finance which employs prudent banking principles to meet customer needs, demonstrates integrity and operates profitably.


To be committed to promoting Tonga’s economic and social advancement by providing high quality development and commercial banking products and responsive professional service, while operating profitably as a financially sound banking institution.

Financial Highlights

Financial Highlights (T$’000) 2014 2015 2016 5-yr Average
Revenue 7,842 8,341 12,707 7,627
Net Profit After Tax 1,414 1,404 1,795 1500
CSO payments 0 0 0 943
Total Assets 85,140 96,869 105,520 74,919
Total Liabilities 64,852 76,117 84,604 56,350
Shareholders’ Funds 20,288 20,692 20,916 19,569
ROE % 10.0% 7.0% 8.59% 8.3%
ROA % 2.0% 1.0% 1.70% 2.1%
Asset Utilization 9% 9% 10%
Cash / Current liabilities 5.700 4.638 5.220

Important Documents