By: L.N. Reklai KOROR, Palau (August 20, 2026) — The National Development Bank of Palau’s Board of Directors has decided not to renew the contract of President and CEO David Proctor, with Chief Financial Officer Karla West appointed as acting CEO. NDBP Board Chairman Rhinehart Silas confirmed the decision, saying Proctor’s contract, which expires Aug. […]
Tag: NDBP
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Palau’s NDBP Ends Unsecured Loans, Sparking Backlash Over Land Collateral Requirements
By: L.N. Reklai KOROR, Palau — The National Development Bank of Palau (NDBP) is facing mounting criticism from residents who say the bank’s decision to scale back unsecured lending and chattel mortgage programs has locked ordinary Palauans out of financing, even as bank leadership defends the move as a necessary response to mounting losses. For […]
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NDBP’s loan portfolio rises to $7 million in three years
The National Development Bank’s (NDBP) loan portfolio increased by 43 percent or over $7 million from 2015 to 2018, assisted by the housing demand and commercial lending. In a speech before the opening of the Senate’s April session on Tuesday, NDBP President Claire Harvey said the growth of NDBP’s loan portfolio “is contributing to the […]