History

2011
2010
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2009
2008
2007
  • The Prime Minister launched the NDB at the Laiwaden Oval in Madang in June 2007
2006
  • NDB completed its lending manual
2005
  • NDB purchased the new MIS system Abacus to replace the obsolete Wang System.
2004
  • In 2004 the former Rural Development Bank Limited became insolvent for the third time since its establishment in 1967. In the first week of June 2004 the government replaced the Board and the Managing Director and appointed a new board under Masket Iangalio as chairman and Richard Maru as the Managing Director and directed the new Board and Management to stabilize the financial position of NDB. An aggressive loan recovery drive was used to pay a 7 million debt by December 2004 so effectively that the threat of insolvency was abated. In 2004, the Government took the decision to rehabilitate rather than wind up the operations of RDB after considering the full investigation report by PwC and strategic options put to the Government. The Government provided 5 million to assist the rehabilitation cost.