Following the announcement of a solid profit growth of 27% NPAT for 2021, Kina Bank CEO Greg Pawson in his view says the economic growth in PNG can be mirrored by the performance and innovation of Kina bank.
Mr Pawson said, "At the same time as innovating and delivering a better banking solution for PNG we believe we are helping the economy grow, through lending for business and individuals and providing a better banking experience to more people in the country.”
Economic analysts, including the World Bank predict good growth for the PNG economy in 2022. Following its 2021 results, Kina Bank is now the second biggest bank, by lending, in PNG that now sets the pace for the sector in 2022.
“Kina’s purpose is to constantly improve the prosperity of our people, communities, and markets in which we operate. We achieve this by being the most dynamic, progressive, and accessible financial services organisation in PNG,” said Mr Pawson.
Last year there was the roll out of number of initiatives, which included fee-free online banking, the introduction of high interest savings accounts, delivery of market leading SME products as well as launching several leading digital products and services.
The CEO and the Board are committed to rolling out a number of key initiatives in 2022 that include:
- Selectively build out the Kina Bank Commercial Centres into regional areas of PNG, locations include Mount Hagen and Lae
- In conjunction with MiBank launch joint services in Alotua, Popondetta, and Maprik;
- Enhance our digital platforms, which will include the development of complete digital onboarding via e-KYC;
- The ability for our customers to have a single view of their Super and Banking products; and
- For the SME sector the launch Kina Xero Bank Feeds, Xero is a cloud-based accounting software designed to support businesses.