Credit Corporation was one of two financial institutions to receive PNG commercial banking licences this month, with more new banks planned. Credit Corp’s Chief Executive Danny Robinson outlines his bank’s digital-first approach, while the IFC’s Kevin Gani explains the path forward for other prospective banks.
Papua New Guinea’s property developers have been busy renovating properties and putting the finishing touches to new projects, including Marriott- and Hilton-branded executive apartments, as the sector gears up for greater economic activity.
In this exclusive interview, Credit Corporation’s CEO Danny Robinson updates Business Advantage PNG on its progress towards acquiring a full banking license and outlines what kind of bank it will be.
A food delivery service, a banking service for remote users and a new government portal for MSMEs were the big winners at the 2023 Innovation PNG Awards, announced last week.
CEO Danny Robinson walks Business Advantage PNG through plans to become a niche commercial bank after the [bank] regulator recently fast-tracked the finance company’s application for a full banking licence in Papua New Guinea.
Ok Tedi Mining and TISA Community Finance appoint new CEOs, new board members for PNGX and Credit Corporation PNG, while Geopacific Resources has a new interim CEO.
There is broad agreement that Papua New Guinea needs more competition in its banking sector, and several finance companies have flagged their desire to acquire banking licences. What happens next, however, is likely to depend on government action.
Central Bank awards in principle banking licence to Credit Corporation, Japanese delegation visits proposed Special Economic Zone locations in Papua New Guinea, and Newmont’s proposal to combine with Newcrest Mining. Your business news in summary.
Central bank welcomes a new Acting Governor, the Papua New Guinea Chamber of Mines and Petroleum farewells Executive Director, Nambawan Super gets new board member, changes at Ok Tedi Mining, and Credit Corp announces staff changes.
Acting CEO appointed at PNG Ports, new Chairman for Credit Corporation PNG, Mayur Resources Limited welcomes new Resident Director, and Kacific appoints Managing Director of the Pacific.