The National Reserve Bank of Tonga (NRBT) marks its 35th anniversary on Monday 16 September 2024 with an audited net profit of $35 million as its twin milestones. The $35.8 million profit in 2024 is 75 percent higher than last year’s 2023 record profit of $20 million. Following the NRBT Board approval of the KPMG Fiji external audited NRBT Annual Financial Statements for the financial year ended 30 June 2024, Lord Sevele ‘o Vailahi chairman of the Board at the NRBT 2024 Annual General Meeting today presented a cheque of $25.1 million to the Prime Minister, Hon. Hu’akavameiliku as its annual distribution of the Bank’s profits.
The Prime Minister of Tonga Hon. Hu’akavameiliku welcomed NRBT’s strong performance in 2023 and now higher in 2024 and stated “NRBT’s strong performance is providing additional revenue to the Government to support its strategic priorities including the private sector, such as supporting our small medium enterprises through the Ministry of Trade and Economic Development, our Ministry of Agriculture and Fisheries, advancing resilience preparedness, digital transformation and technology to reduce business unit costs. The additional revenue to the Government will reduce the need to borrow or increase taxes to keep its fiscal balances more manageable and sustainable.
“ We thank Lord Sevele and the Board, the Governor Tatafu Moeaki and the staff of the Bank for their dedication as the role of NRBT is so critical to building the resilience of the Tongan economy as a small open economy highly exposed to natural hazards, external shocks and global risks. Government welcome the strong performance of the Bank to undertake monetary policy effectively over the last two years in accordance with the annual assessment by the International Monetary Fund Article IV missions in 2023 and 2024, the Bank’s role to ensure price stability and that of the financial sector are also critial to help the Government’s economic growth objectives for the people of Tonga” said Prime Minister Hu’akavameiliku.
Lord Sevele stated that “the banking sector remained well capitalised and maintained satisfactory liquidity and earnings positions to buffer against the elevated vulnerabilities in asset quality whilst managing the increase in non performing loans in 2024. Eradicating financial crimes and improving the integrity of the financial system are also key priorities for NRBT going forward.”
The Chairman and the Board of Directors would like to thank the Governor Tatafu Moeaki and staff of the Bank, as well as the Government, licenced financial institutions and other stakeholders in supporting the Bank to meet its objectives during the financial year 2023/24.
The National Reserve Bank of Tonga will celebrate its 35th Anniversary twin milestones on Monday 16 September 2024 at the Tanoa Hotel with HRH Crown Prince Tupouto’a ‘Ulukalala as the Guest of Honour.
Makamaile Māhanga ‘a e Pangikē Pule Fakafonua ‘a Tonga ‘i he 2024
‘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.
Naʻe fakamālō’ia ʻe he Palēmia ʻo Tonga, Hon. Huʻakavameiliku ʻa e ngāue mālohi ʻa e Pangikē Pule ʻi he 2023 pea ʻoku maʻolunga ange ia he taimi ni ʻi he 2024 pea ne pehe "ʻOku ʻomi ʻe he ngāue mālohi ʻa e Pangikē Pule ha paʻanga hu mai lahi ange ki he Puleʻanga ke poupouʻi ‘ene ngaahi taumu’a langa fakalakalaka ʻoku fakamuʻomuʻa ʻo kau ki ai sekitoa taautaha hange ko hono poupouʻi ʻetau ngaahi kautaha iiki mo lotoloto ‘o fakafou ‘i he Potungāue ʻo e Fefakatauʻaki mo e Langa Fakalakalaka Fakaʻekonomika, Potungāue Ngoue mo e Toutai, paotoloaki e tu’u mateuteu ke matu’uaki e fakatamaki, fakalakalaka fakaʻilekitulonika mo e tekinolosia ke fakasiʻisiʻi e fakamole taautaha ʻa e ngaahi pisinisi. Ko hono tānaki ‘o e pa’anga hū mai ko eni ki he Puleʻanga ʻe fakasiʻisiʻi ai ʻa e fiemaʻu ke nō pe fakalahi ʻa e tukuhau ke tauhi ʻene ngaahi palanisi fakapaʻanga ke toe faingofua mo tuʻuloa ange.
“‘Oku ‘oatu ‘a e fakamālō kia Lord Sevele mo e Poate´, Kovana Tatafu Moeaki mo e kau ngāue ‘a e Pangikē ki he ngāue ‘osi-kia-velenga makatu’unga ‘i he mafatukituki homou fatongia ko e Pangikē Pule Fakafonua ‘a Tonga ki hono langa ‘a e tu’unga matu’uaki ‘a e ‘ekonōmika ‘a Tonga´, he ko e ‘ekonōmika ‘oku si’isi’i, pea tu’u laveangofua ki he ngaahi fakatamaki fakaenatula´, ngaahi fakatamaki fakatupakē mei tu’apule’anga´ mo e ngaahi pole fakamāmani lahi foki. ‘Oku poupou ‘a e Pule’anga´ ki he fakahoko fatongia mafatukituki ‘a e Pangikēe´ ‘i hono fakahoko ‘a e fa’unga ngāue fakapa’anga ‘i he ta’u ‘e ua (2) kuo maliu atu´ fakatatau ki he polokalama sivi fakata’u ‘i he Misiona Article IV ‘a e Kautaha Pa’anga Fakavaha’apule’anga´ ‘i he ta’u 2023 mo e 2024, mo e fatongia ‘o e Pangikē ki hono ta’ota’ofi ‘a e hikihiki ‘i he tu’unga ‘o e totongi koloa´ mo e tu’unga malu e ngaahi tafa’aki fakapa’anga´ ke tokoni ki he ngaahi taumu’a ngāue faka’ekonōmika ‘a e Pule’anga´ ma’ae kakai ‘o Tonga” ko e me’a ia ‘a e ‘Eiki Palēmia´ Hu’akavameiliku.
Na‘e fakahā foki ‘e Lord Sevele “‘oku kei fakafiemalie pe ‘a e sekitoa faka-pangikēˊ pea ‘i he tu’unga fe’unga pē ‘a e pa’anga ngāueˊ pea mo e pa’anga tupu ‘a e ngaahi pangike ke ne fakapapau’i ‘a e malu mo e tu’unga lelei ‘a e ngaahi koloa lolotonga hono tokanga’i ko ia ‘a e lahi ‘o e ngaahi nō palopalema ‘i he ta’u 2024. Ko e ngaahi tefito’i ta’umu’a ‘a e Pangikē Pule Fakafonua ‘a Tonga ki he kaha’u´ ko hono ta’ofi ‘a e ngaahi hia fakapa’anga´ mo toe kake’i hake ‘a e tu’unga faitotonu ‘i he ngaahi tafa’aki fakapa’anga.”
‘Oku ‘oatu ha fakamālō mei´he Sea´ mo e Poate ‘o e kau Talēkita´ ki he Kōvana´ Tatafu Moeaki mo e kau ngāue ‘o e Pangikē Pule Fakafonua ‘o Tonga´, kae‘uma‘ā ‘a e Pule‘anga´, ngaahi kautaha laiseni fakapa‘anga´ mo e ngaahi hoa ngāue´ ‘i he ngaahi poupou ki he Pangikē´ ‘i hono a‘usia ‘ene ngaahi taumu‘a ngāue lolotonga ‘a e ta‘u fakapa‘anga 2023/24.
ʻE fakamanatu ʻe he Pangikē Pule Fakafonua ‘o Tongaˊ ʻa hono taʻu 35 ʻi he ʻaho Monite 16 ʻo Sepitema 2024 ʻi he Hotele Tanoa mo e Fakaafe Fakalangilangi ko e Tama ko Pilinisi Kalauni Tupoutoʻa ʻUlukalala.
