The banking sector in Papua New Guinea is sound, growing and remarkably profitable. Its largest and only publicly traded institution, BSP, reports return on equity 10 percentage points higher than the large Australian banks, which are among the most profitable in the world. Continued expansion is expected. With 80% of the country unbanked,...
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Articles & Analysis | Tech solutions extend banking to remote areas of PNG from The Report: Papua New Guinea 2015
Interviews & Viewpoints | Robin Fleming, CEO, Bank South Pacific: Interview from The Report: Papua New Guinea 2015
To what extent is the country’s first liquefied natural gas (LNG) project contributing to 2015 economic growth in Papua New Guinea?
Articles & Analysis | Digging up value: Banks use new methods to attract depositors from The Report: Papua New Guinea 2015
Though the country may appear to lack liquidity, Papua New Guinea may have billions of kina hidden outside the banking system. According to Tony Westaway, managing director of Nationwide Microbank, residents tend to store cash at home, or hide large sums underground in bamboo pipes and in tin cans. The reasons are many: some people do not...
Articles & Analysis | Financial inclusiveness a key goal for PNG from The Report: Papua New Guinea 2015
Financial literacy and financial inclusion are becoming pressing issues in Papua New Guinea and receiving increased attention. In part, this is a function of global trends: financial literacy is vital to sustainable development and is actively being supported by the donor community and local governments. It is also especially a focus for PNG,...
The banking sector in Papua New Guinea is sound, growing and remarkably profitable. Its largest and only publicly traded institution, Bank South Pacific, reports return on equity 10 percentage points higher than the large Australian banks, which are among the most profitable in the world. Furthermore, continued expansion is expected. With 80% of the country unbanked, growth is almost assured...
Articles & Analysis | Reforms boost Gabon's banking sector from The Report: Gabon 2015
In recent years Gabon has witnessed rapid growth in banking assets, lending and deposits, as well as in penetration and financial inclusion indicators, albeit from a low base, though the fall in the price of oil is having an impact on the economy that banks say will slow down business in 2015. The sector has traditionally struggled to convert...