National Banking Corporation Encourages Papua New Guineans to Invest in Their Future
In a bold move to engage the local population, the National Banking Corporation (NBC) chairman Darrell Seeto has made an enthusiastic call for Papua New Guineans to invest in their financial future by purchasing equity and shares in the bank. During the bank’s grand opening in Port Moresby, Seeto shared his vision for the bank and its role in the country’s economic landscape.
Seeto encouraged citizens to consider the long-term benefits of investing in NBC, saying, “I encourage all Papua New Guineans to buy equity, shares in this bank. Leave your shares for 10-15 years. Just watch it grow.” This statement reflects the bank’s commitment to not only provide a sustainable banking option but also to create a sense of community ownership among its shareholders.
The bank is eyeing an initial public offering (IPO) planned between the latter half of 2026 and the first quarter of 2027. This significant milestone aims to allow every Papua New Guinean a chance to become a part of the bank’s journey. Seeto added, “As we grow, we take all shareholders with us. We want everyone to participate.”
Furthermore, the vision for NBC extends beyond offering traditional banking products. Seeto emphasized the importance of diversifying the bank’s capital base, stating, “We are looking to diversify not only our services but also our investment portfolio.” This approach will enable the bank to expand its capacity for lending and accommodating increased deposits, ultimately fostering growth and stability within the community.
Professor David Kavanamur, managing director of Kumul Consolidated Holdings Limited, added that NBC represents a successful transition from its predecessor, the People’s Micro Bank, into a fully licensed commercial bank. This transformation not only enhances the financial options available to the people of Papua New Guinea but also strengthens the nation’s economic framework.
As NBC sets its sights on the future, the bank is counting on the support of the Papua New Guinean community. With a shared commitment to growth and sustainability, this initiative promises to empower individuals, support economic development, and create a brighter financial horizon for the people of Papua New Guinea.
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#PapuaNewGuinea #BusinessNews #Finance #Investment #Economy
