Tuvalu - Banking and securities
The Bank of Tuvalu was founded in Funafuti in 1980 and has branches on all the islands. The bank is jointly owned by the Tuvalu government (75%) and by Barclays Bank, which was responsible for its operation until mid-1985.
In 1995, the government bought Westpac's 40% shareholding in the National Bank of Tuvalu and now owns the bank outright. Westpac has managed the bank since it was established in 1980 and is expected to provide an advisory support service.