Banking.

PNG’s banking sector is dominated by three major players: BSP, ANZ and Westpac. The challenges they face are familiar to emerging markets, including limited capital, riskier commercial loans and a largely unbanked population. The current issue is an excess of liquidity, as banks have accumulated plenty of cash through a build-up of foreign exchange reserves, yet are hesitant to lend it out. To incorporate more people within the formal banking system, the government is expanding the National Development Bank, while the private sector is counting on mobile banking to reach rural inhabitants. This chapter includes interviews with Loi M Bakani, Governor, Bank of Papua New Guinea; and a roundtable discussion with Vishnu Mohan, CEO (PNG), ANZ Banking Group; Ian Clyne, CEO, Bank South Pacific (BSP); and Ashleigh Matheson, Managing Director, Westpac Bank (PNG).