Within only three days of opening for business, it has recorded close to 1,000 customers.
Prime Minister Peter O'Neill opened the bank last Thursday.
Chief Executive Officer, Anthony Dela-cruz says, it's likely a second and third branch should be opened for Port Moresby alone.
Dela-cruz says people turning out to open their accounts are from the informal sector.
"We have a very, very excess turn out of people.We were out standard by the overwhelming turnout of people coming to the bank and queuing up to open a savings account for the first time.
"And we are really very excited because its a first time we see a large from informal sector, vendors,street sellers,SME's, business operators, Liklik Business operators come to open an account at Peoples Micro Bank.
"So far, close to a thousand customers have been served.That's in a matter of three days".