13 Jan 2006

Development Bank of American Samoa improves performance

8:15 am on 13 January 2006

The government-owned Development Bank of American Samoa has improved its performance during the 2005 financial year.

The bank's acting president Utu Abe Malae said that for the 11 months ending November, the bank came under budget by US$36,000.

This is despite the bank giving out more loans in 2005 compared to 2004.

Last year 157 loans for businesses and new homes were approved at a cost of US$6.27 million compared to US$ 1.4 million, the previous year.