Customers, who have accounts with Women’s Micro Bank Ltd, now have the opportunity to become direct owners of the Micro bank, following a decision by the Board to release shares.
Women’s Micro Bank Chairman, Ricky Mitio, announced this today. He said the move was in line with strengthening the performance of the bank going forward.
“This offer is primarily intended at strengthening the performance of the bank in four key areas;
1. Strengthening capital adequacy requirements set by Bank of Papua New Guinea
2. Expansion of our branch network in adherence to BPNG licensing regulations
3. Improving technology between branches and head office, and,
4. To give an opportunity to members of PNG Women in Business Foundation (PNGWIBF), and female clients of Women’s Micro Bank (WMBL) to hold direct ownership in the bank
Women’s Micro Bank Ltd, as the first Mama Bank in PNBG, is proud and privileged to announce the release of 7,021,300 ordinary shares, at an issuance price of K1.00 per share.”
The shares are on offer until November 30th. Those wishing to know more about this offering are encouraged to contact Women’s Micro Bank.