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: Palau banking
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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 […]