ASX ANNOUNCEMENT (ASX:KSL) 16 MAY 2017

Kina AGM Trading Update – 16th May 2017

Notwithstanding ongoing efforts to establish USD correspondent banking arrangements, a solution continues to be a challenge with permanent and diverse arrangements not yet established. As a result, and despite ongoing customer demand, the foreign exchange income in 1H17 is expected to be impacted by approximately K10 m.

The core domestic banking business continues to grow strongly with approximately 10% growth in the loan portfolio year to date.

Mr. Isikeli Taureka appointed Chairman

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170516_Kina Trading Update_vFINAL

ASX ANNOUNCEMENT (ASX:KSL) 11 MAY 2017

Kina Bank Opens New Branch At PNG’s Largest Mall

 

Port Moresby, Papua New Guinea (11 May 2017): Kina Bank today announced the opening of its new branch in PNG’s largest shopping complex at Vision City Mega Mall in Port Moresby.   Kina operates the fourth-largest bank in PNG with more than 14,000 clients and seven branches covering the major industrial and growth centres in PNG.

 

The new branch was officially opened by Prime Minister, Honourable Peter O’Neill in a small ceremony attended by Bank of Papua New Guinea Governor, Mr Loi Bakani, Chairman of Kina Board, Sir Rabbie Namaliu, Kina Board members and staff.

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170510_Kina Bank Opens New City Vision Branch_11 May 17

ASX ANNOUNCEMENT (ASX:KSL) 11 MAY 2017

Kina Securities and Asian Development Bank Sign First Trade Finance Agreement in Papua New Guinea

 

Port Moresby, Papua New Guinea. 11 May 2017: Kina Securities Limited (KSL) today announced that it had become PNG’s first bank to sign a trade finance agreement with the Asian Development Bank (ADB).  The deal will assist Kina’s local importing and exporting business customers by providing access to ADB’s Trade Finance Program (TFP).

 

The agreement will enable customers to access a credit guarantee facility that can support up to $4 million of trade annually in Papua New Guinea (PNG) to support their international transactions.

Download link to the copy of this announcement is below:

170510_Kina signs deal with ADB_11 May 17

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