We're saddened to report the loss of six valued and beloved employees and a former board director and Chairman during 2022 and at the start of 2023.
We thank all our people for the extraordinary effort that they have made to help their families rebuild their lives. Our support and sympathies are extended to the families of the late Madeline Gabiobu, Rai Gia, Jennifer Goma, Dessie Buka, Andrew Soro Mongagi and Brolin Kipma.
We also mourn with the people of East New Britain and Papua New Guinea for the loss of Rt Hon. Sir Rabbie Langanai Namaliu GCL KCMG PC. Following his distinguished political career, the late Sir Rabbie served as a non-executive board member and eventually as Chairman for Kina Securities from
2000 to 2017. We are extremely grateful to have had the privilege of his leadership and guidance. He performed his duties with great energy and the utmost professionalism. His achievements include leading the renewal of the Board and Management Team and guiding Kina Bank's growth and sustainable performance during his tenure as Chairman.
Madeline Gabiobu
Rai Gia
Jennifer Goma
Dessie Buka
Andrew Soro Mongagi
Brolin Kipma
"Blessed are they that mourn: for they shall be comforted."
Rt. Hon. Sir Rabbie Namaliu
GLC KMCG PC
1947 - 2023
Matthew 5:4
Financial Snapshot
Statutory NPAT
PGK 116.5 million
Up 65%*
Revenue
PGK 366.5 million
Deposits
PGK 3,879 million
Up 28%
Net Loan & Advances
PGK 2,159 million
Up 10%
Up 11%
Customers
207,946
Up 19%
Return on Equity (ROE)
FY22
FY21
19.6%
12.3%
Capital Adequacy
FY22
22.5%
FY21
23.3%
15.3% Market Share Lending
12.9^ Market Share Deposits
*impact of 45% increase in DTA, hence decrease in ITE
Kina Securities Ltd. published this content on 08 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 08:36:03 UTC.
Kina Securities Limited is a Papua New Guinea-based diversified financial services company. The Company is engaged in offering banking products, fund administration and wealth advice across Papua New Guinea (PNG). It offers customers end-to-end financial solutions from savings accounts to business loans, investments to mortgages, financial advice and investment management. Its segment includes Banking & Finance and Wealth Management. Banking and finance segments include the operations of Kina Bank, while Wealth Management includes fund management and fund administration businesses. Kina Bank delivers home, business and corporate loans, everyday banking transactions, credit cards, merchant and payment facilities and banking services to smaller institutions. Kina Wealth encompasses Kina Investment and Superannuation Services, Kina Funds Management and Kina Nominees servicing funds administration, wealth advice, stockbroking, fund management and nominee custodial services.