It’s an exciting time for Kina Bank and the banking industry now that we’ve been given full regulatory approval to acquire ANZ PNG’s Retail, SME and Commercial businesses. We are looking forward to you joining us.
We are financially strong, and committed to taking banking to the next level in PNG. The benefits of this transformative acquisition will apply across the board:
• For you, our customer, who will benefit from Kina Banks latest, best in market products and services
• For the financial services sector in PNG, which benefits from having two strong domestic retail banks, giving customers a better alternative and real choice.
We aim to complete the integration with ANZ in September this year.
Simplicity, convenience and easy-access are the key themes of our offering. Did you know, we’re the only bank where you can see your superannuation account alongside your bank accounts on our state-of-the-art mobile banking app? Or that you can apply for a home loan on-line? Or, that our business customers will have access to the next generation EFTPOS terminals, complete with “tap and go” capability?
We’ve also put considerable effort into strengthening our correspondent banking arrangements to offer faster and more efficient foreign exchange and international payments.
We’re working closely with ANZ to make this seamless and ensure there is no disruption to your day-to-day banking. As an ANZ customer transferring to Kina Bank, you will still be able to use your existing cards and you’ll retain the same account number. Our fees and charges are at the least the equivalent of ANZ’s. In fact, you’ll find many fees and features are better than those you currently receive and we expect you’ll be surprised – and delighted – when you come across to join us.
At this stage, you don’t need to do anything. We will keep you informed of what’s happening along the way.
We’re a well-recognised name in PNG, having operated as a diversified financial services company since 1985. In May 2015, we acquired Maybank and dual-listed on the Australian and Port Moresby Stock Exchanges. Founding shareholder, Fu Shan sold their entire stake in the company in June 2018 and their shares were bought by a range of new and existing institutional and retail investors.
As well as becoming the second largest retail bank in PNG with a national branch, EFTPOS and ATM network, we’re the largest fund administrator.
We service more than 700,000 Beneficiaries whose funds total approximately PGK12 billion.
We’re the Leading Stockbroking Company in PNG, transacting a substantial percentage of trades on the Port Moresby Stock Exchange.
We are the largest wealth management business with over PGK7 billion of funds under management.
Proudly home-grown, we operate to the highest international compliance standards laid down by the Bank of PNG, the Australian Securities Exchange, and other international financial legislation – which is essential for our registry of international shareholders and correspondent banking relationships.
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Greg Pawson, CEO/MD Kina Bank