By Leanne Jorari – EMTV News, Port Moresby
Following Kina Bank’s acquisition of ANZ PNG’s retail and commercial banking business, Kina Bank CEO, Greg Pawson, has promised to take on and continue ANZ PNG’s commitment to the National Financial Inclusion strategy.
Formerly, ANZ PNG, along with the other commercial banks were active partners of the strategy to ‘bank the unbanked’ by 2020, an initiative of the government of the day.
The country’s commercial banks have been supportive of the Central Bank’s initiative and with the 2nd national strategy currently being rolled out nationally, Kina Bank’s participation will provide an opportunity for many of the unbanked to open bank accounts with a home grown, Papua New Guinean bank, like Kina bank.
Mr Pawson said that the bank is also looking to partner with an unspecified micro bank. He added that together, both financial institutions can contribute significantly to the financial literacy initiative.
More details about the partnership will be available in the coming months.