Kina Bank will increase its Indicator Lending Rate (ILR) by 0.25% to 7.20% from the current 6.95%. This change is consistent with the Bank of Papua New Guinea (BPNG) increasing the Kina Facility Rate (KFR) in August 2024 to 3.00% from 2.50% to counter high domestic inflation.
Terms used in this notice that are not defined here will have the same meanings as those explained in your Loan Agreement. Unless expressed otherwise, all other terms and conditions in the Loan Agreement remain unchanged.
At Kina Bank, we value your relationship with us and are committed to providing you with a high level of service and security for your banking needs.
Should you have any inquiries, please do not hesitate to contact your dedicated Kina Bank business partner or Relationship Manager. You may also reach us at kina@kinabank.com.pg or call us at +675 308 3800.
We appreciate your understanding and thank you for being a valued customer.