DBK Background
Development Bank of Kiribati was established under "Development Bank of Kiribati Act" 1986 and became operational on 1st August 1987. It is an SOE(State-Owned Enterprise) which is 100% owned by the Government and currently employs 54 staffs. It operates under the direction of Board of directors appointed by the Minister of Finance which consists of 7 members; 6 from the public sector and 1 from private sector. DBK has two main headquarters; Tarawa and a branch on Kiritimati Island and agencies on 6 of the 15 outer island. It raises its resources from borrowing, Government subsidy or injection and from own funds.
DBK main objectives
- To provide affordable and quality banking services and products to people of Kiribati
- To boost economic growth and standards of living as well as employment creation
- To increase profitability