– Statutory NPAT of PGK 48.1m, up 109% from pcp
– FX income restored to PGK 34.2m
– Net interest margin steady at 7.6%.
– Net interest income of PGK 87.6 m, up 21% from pcp
– Non-interest income of PGK 74.1m, up 90%
– Final dividend of AUD 5.0 cents per share / PGK 12.1 toea per share
– Capital adequacy maintained at 28.9%
Kina Securities Limited (ASX: KSL) has today reported a strong performance for the 12 months to 31 December 2018.
Directors declared a final dividend of AUD 5.0 cents per share / PGK 12.1 toea per share. This took the full year dividend to AUD 9.0 cents per share/PGK 22.1 toea per share, up AUD 3.0 cents per share/PGK 7.1 toea per share on the prior corresponding period.
During the year, Kina announced a major acquisition of ANZ PNG’s retail, commercial and SME businesses. Formal regulatory approval was provided by the Bank of PNG yesterday. The acquisition is expected to increase Kina’s earnings and profitability, improve return for shareholders, enhance liquidity to support future lending growth and improve its national footprint, and is on track to complete by 30 September 2019.
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