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Port Moresby
February 28, 2021

NDB: New Branches To Open Soon

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The National Development Bank (NDB) will be opening two new branches in Kundiawa and Mendi.

This follows a financial support of six million kina from the Trade, Commerce and Industry Department to NDB. 


The extending of these new branches into the highlands region will make banking services accessible to people in rural areas. 


Mr Maru said, his department aims to grow the Small Medium Enterprise (SME) sector to create wealth and employment for PNG citizens.


He said by 2016, he wants to see NDB Banks open in all provinces, and he has already submitted a budget submission for a further K20 million for the 2015 government budget, to see the extension of NDB’services into other provinces.


A survey conducted under the Financial Inclusive Program estimates that at least 2.4 million people in PNG need banking services.


But with the current high bank fees charged by the commercial banks like BSP and ANZ, people are discouraged from opening bank accounts.


Since the launch of the bank in April last year, it now has over 300, 000 customers in four different provinces.


NDB is the only bank in the country that does not charge its customers deposit or withdrawal fees.


To show his commitment to his people and appreciation to NDB for bringing in the service to his province, member for Imbougu, Francis AwEsa’ pledged one million kina from his electorate’s District Improvement Services Program funds to NDB.


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