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Port Moresby
September 23, 2020
News

NCSL Annual General Meeting

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NCSL Annual General Meeting was held in Port Moresby this morning and was live broadcasted on FM 100 to allow contributors across PNG to listen in.

General Manager, Vari Lahui, speaking to members at the AGM said 2017 saw a net profit of K2.1 million, NCSL total assets increased by 9% to K157.9 million and membership increase by 18%.

Mr Vari Lahui said membership decreased in 2017 but gradually increased at the end of 2017 and beginning of 2018 with a total membership of over 100,000.

2017 also saw an increase in loans.

Mr Lahui said it was encouraging to see members making use of different NCSL services.

In 2017 the savings and loans act was amended, NCSL told members that they have taken the amendments into account and are ready to comply with any changes.

Meanwhile Mr Lahui announced to members that the move to go paperless, introduction of online and mobile transaction with a debit card may be finalised at the end of the year.

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