ANZ branches to be rebranded

This follows an agreement that ANZ’s Retail, Commercial and Small-Medium Sized Enterprise (SME) customers would transfer to Kina Bank on September 23.

ANZ responds positively to Sovereign Bond issuance

Mark Baker, Managing Director ANZ PNG said: “This marks an important milestone in the history of local financial markets, setting a strong precedent for future issuances in Papua New Guinea.”

It is an important phase in the evolution of an emerging economy and will go a long way in establishing PNG’s identity in global financial markets.

What does the sale of ANZ retail, commercial and SME business mean?

Kina Bank is a wholly-owned subsidiary of Kina Securities Limited, a PNG company listed on the Australian and Port Moresby stock exchanges.

The transaction remains subject to final regulatory approval from the Bank of Papua New Guinea.

The sale includes all 15 ANZ branches, and ongoing roles for all relevant staff in PNG.

To ensure an orderly transition of ownership, ANZ will continue to manage the Retail, Commercial and SME businesses until the transaction is complete late 2019, when Kina will take control.


ANZ PNG signs new union agreement

Benefits under this new agreement include: