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PNG Kina bank to offer more to PNG Economy

Papua New Guinea KINA Bank like any other financial and commercial banks is confident to be at the forefront in offering banking services.
Last Thursday’s business breakfast hosted at the Royal Papua Yacht Club was fruitful as the bank gave updates on their view of the economy and also plans to boost its operations.
“So for very good, we’ve had good growth over the past two years and that is continuing and we are also making a lot of changes in introducing new products,” said Kina Bank’s treasurer and head of markets Nathan Wingti.
“We are quite confident about the future.”
Asked to comment on the bank’s view on the economy, Mr. Wingti said it is probably too early to tell on what the outlook will be with regards to the impact of the Liquefied Natural Gas shutdown.
“Our main message to customers is to make sure you stay close and continually assess what is coming through the market, talk to bankers and just be careful about your forward commitments around foreign exchange for the future,” he said.
He said as for Kina Bank they are confident as they been progressing strongly and also are confident in business and trading over the next 12 months.
Kina Bank has its own research team based in the Kina funds management business that issue out regular economic and market reports (quarterly market reports including the weekly market updates).
“In terms of PNG Macro outlook basing on what we released in our last quarterly outlook report, we talked about GDP and our view is pretty much consistent with what other commentators and institutions are focusing,” said Mr. Wingti.
Domestic consumption is high with Mr Wingti pointed out that there are some sectors doing well while others were struggling. Post Courier/ONE PNG

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