Kina Bank plans to be second largest in PNG

KINA Bank has long-term plans to become the second largest bank in the country from its fourth ranking now, according to Kina Group chief executive Syd Yates.
He acknowledged Bank South Pacific’s dominance in the sector.
“I do not think we can ever be number one because BSP is and we respect that. We would like to get to number two, one day,” he said.
“Wouldn’t it be great to have two PNG banks as number one and two? That is what we want to do.
“We have plans and we are looking at some new branches. We have an office in Kokopo we have office in Mt Hagen and they are not full branches as they from the old Kina Finance days.
“What we would like to do is convert them to full branches. We always have that ambition and we are going through some plans and that is probably the next stage on how we are going to expand.
“An important thing is our new banking system is going to be coming in and we are going to be upgrading them in July towards the end of August.
“That will allow us to bring a range of services that will compliment what we are trying to do at our branches.”