Find Banking and Financial Services expertise in Kiribati

Banks

As one of the least developed nations in the Pacific, Kiribati has a small financial system which is closely tied to Australia’s financial sector. There is only one commercial bank – the Bank of Kiribati, a joint-partnership between the Government of Kiribati, which owns 25%, and the Australia and New Zealand Banking Group Limited (ANZ), which owns the other 75% since its purchase in 2001. ANZ’s activities also include tracking foreign exchange reserves and domestic currency demand – the country uses the Australian dollar as its domestic currency. The bank, which provides central and retail banking operations, has four branches. The nation also has the small Development Bank of Kiribati, which generally lends to small businesses. However, in addition to these formal institutions, there is exists a loose network of ‘village banks’ that serve as an informal banking sector and provide some microfinance. Outside of banking there exists the Kiribati Provident Fund, which invests in offshore bonds and stocks in order to fund the government pension scheme.

Banking and Financial Services organisations in Kiribati
Development Bank of Kiribati
Kiribati Bank