Tonga central bank promotes ‘prudent lending’
National Reserve Bank of Tonga says bank lending rose by 12% in year to November
The National Reserve Bank of Tonga (NRBT) will continue to promote "prudent lending" throughout 2016, after total bank lending rose by 12% in the year to November, it announced in its latest economic review.
The rise was "due to increases in all lending categories, particularly to households, underpinned by increases in housing and vehicle loans", the bank said.
Bank lending to households rose by 15.5%, while lending to businesses also rose by 8.5%, with increases seen in manufacturing
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