Westpac backs Red Shield Appeal

This sponsorship will bolster the Salvation Army's relentless efforts in providing vital social and humanitarian programs across the nation, with a strong focus on education.

Revised financial program launched

The revised training module is the first of its kind in PNG, designed exclusively by Westpac to help Papua New Guineans feel more 'money confident' and equip individuals and businesses with the knowledge and tools needed for financial success.

As part of Westpac’s commitment to making financial literacy accessible to everyone, the new training builds on the success of Westpac’s financial education program, which was launched this month in Lae and Port Moresby.

Westpac joins forces with UPNG biology students

The collaboration between Westpac and UPNGBSA shows a strong commitment to community engagement and demonstrates a shared vision for a sustainable future.

Mangrove forests are vital ecosystems that play a crucial role in protecting coastlines, providing habitats for various species and sequestering carbon dioxide, thereby contributing significantly to climate change mitigation.

Understanding the importance of preserving these delicate ecosystems, TYN and UPNGBSA united in a common endeavour to restore and protect mangrove habitats for generations to come.

Gift packs for children, PMGH staff

The gifts were from a group of staff from Westpac PNG Corporate Commercial Banking (CCB) team, who took time off last week to visit the wards.

The team of thirty staff were led by Westpac’s Head of CCB, Warren Bobin, as part of Westpac’s tradition to support charity activities in the communities where it most matters.

“Our team recognises the importance of help in times of need and in a small way, when people are feeling unwell and in need of some assistance and friendship, and it is uplifting to see the smiles on each faces as we walk in,” said Bobin.

Kina Securities Terminates Agreement

Kina and Westpac Banking Corporation have mutually agreed to cease its purchase of Westpac Fiji and Westpac’s 89.91 per cent stake in Westpac Bank PNG – a deal that was hoped to expand Kina’s footprint into more markets.

Completion of the acquisition was subject to various regulatory approvals and the termination follows last week’s decision by Papua New Guinea’s regulator, Independent Consumer and Competition Commission to deny authorization for Kina’s proposed acquisition of Westpac PNG.

Kina’s Westpac Offer Finally Rejected – What’s next?

Since the ICCC had already rejected the acquisition in its draft determination, and for good reason, it is no surprise that it did so in its final determination.

Kina Securities Outlines Vision

Kina Securities Ltd Chairman, Isikeli Taureka and Managing Director and CEO, Greg Pawson, outlined a powerful vision for more competition in the banking sector, more innovation and customer choice for PNG, if the Independent Consumer and Competition Commission (ICCC) approves the acquisition. 
“Our mission is to constantly improve the prosperity of the people, communities and markets that we serve. We strongly believe that this transaction should be approved by the ICCC,” said Mr Taureka.

Maru Slams Govt’s Silence On Westpac Sale

Maru raised this concern on the floor of Parliament yesterday during the Question Without Notice period.

"Why is the Government so silent and not backing up the acquisition of Westpac Bank?"

Prime Minister James Marape responded and clarified that the Independent Consumer and Competition is an independent body and the process of acquisition is still ongoing.

He further added that investors in the country have a choice to stay and continue doing business or leave.

Want Westpac to Respond

Mr Tipi is demanding that Westpac pay him back, after he was held at gunpoint by robbers at Westpac’s Waigani Branch in Port Moresby, and had nearly K200,000 stolen from him.

“In 2017, I spoke to the bank, where I was told they would get back to me in 10 days. I am still waiting to hear from Westpac Bank,” said Tipi.

Having heard and read numerous news articles of the sale of Westpac to Kina bank, Tipi wants the bank at least respond.

Toma Empowered

The establishment of the Lastwind Enterprise Agency is the third in the province together with Malabunga and Warangoi, and will give the Vunakaur people the opportunity to participate in the economic development of East New Britain Province.

The Chairman of the East New Britain Savings and Loans Society, Grand Chief Sir Sinai Brown and the East New Britain Governor Nakikus Konga were the official guests accompanied by Deputy Administrator Levi Mano and other invited guests for the occasion.