BANKING SYSTEM

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Banking System

The Banking System of Timor Leste began in 2000 with the establishment of a Portuguese bank branch called “Caixa Geral de Depositos (CGD/BNU)” under the UNTAET Regulation No.2000/8 on Bank Licensing and Supervision. As the needs of banking service became increase the arrival of other commercial banks also increase and became part of the system where the banking system currently consisted of Caixa Geral de Depositos (CGD)/BNU with head office in Portugal, Australia New Zealand Bank (ANZ) with head office in Australia and Mandiri Bank with head office in Indonesia. The BPA, on 2002, had officially authorized the operation of a local quazi-bank institution called “Instituição de Micro Finanças de Timor-Leste” abbreviated as IMFTL. This institution which its head office located in Dili, has been formed by the government with the donors sponsorship and the ADB in order to provide support to poor people and the small business.

These commercial banks have an important role to cover all economy strata of society in big, medium and small business which can be proven by the presence of CGD’s agencies in Baucau, Viqueque, Maliana, Batugade, Suai, Ermera (Gleno), Oeccusi, Dili and the IMFTL’s branches in Dili, Gleno, Maliana, Aileu, Oecusse, Baucau and Same.

An agency of BPA has also taken presence in the special region of Oecussi to facilitate the government civil servants salary payment services and the local trading.

The readers will see in the map where main parts of the eastern, western and southern part of territory are covered by banking services.

Banking System Performance

The banking system performance is shown on a quarterly basis throughout a consolidated balance sheet and its income statement which will give an indication on the performance of banking system in Timor-Leste. It is available below for downloaded.