Kina Bank has unveiled its own range of products aimed at supporting SMEs in Papua New Guinea. Chief Executive Officer Greg Pawson explains the thinking behind the move to Business Advantage PNG.
Kina Bank
A project to build a refinery and mint facility in Port Moresby could put Papua New Guinea in the ‘world gold map’, Bougainville to receive K50 million electricity support package, and new agribusiness development in Western Province. The business news you need today.
It is back to the drawing board for Kina Bank and Westpac, as Papua New Guinea’s Independent Consumer and Competition Commission has issued a ‘final determination’ declining authorisation of Kina’s proposed acquisition of Westpac Papua New Guinea.
K92 Mining announces high-grade mineralisation in Judd vein deposit, SP Brewery new product launch, and Twinza Oil still waiting on final agreement for Pasca A. The business news you need today.
Kina Bank has reported a 36% increase in net profit for the first half of 2021, compared to the corresponding period last year. The results suggest the bank is successfully weathering the impact COVID-19 pandemic.
This year, Papua New Guinea saw the launch of Jungle, an online market place for businesses of all sizes. Jungle’s co-founders share with Business Advantage PNG the challenges they’ve overcome and their views on the future of online retailing in PNG.
If Kina Bank’s acquisition of Westpac’s Pacific operation proceeds, it will be rebranded East West Commercial Bank, a stand-alone ‘Pan-Pacific’ bank to compete against its new parent. That’s according to a presentation made by Kina last week as it tries to convince Papua New Guinea’s Independent Consumer and Competition Commission of the deal’s merits.
In an interim determination, Papua New Guinea’s Independent Consumer and Competition Commission (ICCC) says it may not allow Kina Bank to buy Westpac’s remaining assets in the Pacific.
Kina Bank announces K50 million for small and medium-sized businesses, Prime Minister Marape’s update on mining projects, and BSP Financial Group cautiously optimistic about Papua New Guinea’s post-COVID recover. The business news you need today.
Small and medium-sized businesses have the capacity to create jobs and propel Papua New Guinea’s economy, but how can this best be achieved? Business Advantage PNG looks at how banks are supporting the sector.