Kina Bank opened its new branch at the Vision City Mall in Port Moresby today.
Kina’s Chief Executive Officer, Syd Yates, said the launch of this new branch highlights Kina’s ongoing commitment to Papua New Guinea and its people.
He said the branch was designed with their customers’ needs in mind.
The new branch was officially opened by Prime Minister, Peter O’Neill, in a small ceremony witnessed by Governor of the Bank of PNG, Loi Bakani; Chairman of Kina Board, Sir Rabbie Namaliu; and members of the Kina Board and staff.
Kina CEO, Syd Yates, said it was important for the Bank to deepen its presence within its customer base, encouraging one-on-one interaction with its customers.
“Kina’s vision is for prosperous customers and communities, underpinned by progressive, accessible financial services and this new branch is aligned with this vision,” Yates said.
Kina Securities Limited is Papua New Guinea’s fourth largest bank. The home-grown PNG company is listed on both the Australian and Port Moresby Stock Exchanges.
Central Bank Governor, Loi Bakani, said Kina is enabling the wider PNG population have access to financial services.
Prime Minister O’Neill said traditional Papua New Guineans are dealing with a dramatic change in the face of a modern economy. They face the challenge of managing their finances, having access to financial services and understanding digital financial services.
The new Kina Bank branch also has an EsiLoan and Wealth Management desk with 15 staff to serve customers.
Additionally, Kina Board Chairman, Sir Rabbie Namaliu says, “We intend to expand branches to other parts of PNG.”
Sir Rabbie also announced that Kina will have a new Board Chairman.
Sir Rabbie will be replaced by Isikeli Taureka, who joined the Kina board as non-executive director in 2016. Taureka was an executive director at InterOil Corporation and previously held a number of roles at Chevron Corporation.