After five years as ‘boss bilong BSP’, Ian B Clyne completes his five-year appointment as the CEO of PNG’s largest bank at the end of this month. Business Advantage PNG caught up with him for one final chat.
Kina Assets Management Limited (KAML), Papua New Guinea’s first and only listed investment company, has announced a return of 7.2% for the first quarter of 2013.
Commercial lawyer Steven Kami says PNG’s superannuation and life insurance sectors are worried about the effect of the new prudential standards on corporate governance, and in particular the effect on eligible directors.
PNG’s largest superannuation fund, Nasfund, released its annual results earlier this month. Business Advantage PNG spoke with its Chief Executive Officer Ian Tarutia.
Papua New Guinea’s first listed investment company, Kina Asset Management Ltd, (KAML) has announced a net profit of K4.73m ($US2.21m) in 2012, compared to a net loss of K9.43m (US$4.41m) the previous year.
Papua New Guinean finance company Credit Corporation, the target of recent buyout interest from BSP, has posted increased profits of K106.11 million in the financial year ending 31 December 2012.
BSP, PNG’s largest bank, is being recognised globally as a major innovator with mobile technology. In our exclusive interview, Group CEO Ian B Clyne reflects on a momentous year for the bank and its plans for future growth.
The insurance industry in PNG looks forward to consolidation, more growth and regulatory reform in the coming year.
Papua New Guinea’s strong financial services sector is becoming ever more sophisticated in servicing both the mass-market and premium ends of the market.
After strong performances in 2009 and 2010, the Port Moresby Stock Exchange (POMSoX) experienced a tough 2011, as did many bourses around the world.