http://www.thenational.com.pg/022409/biz3.php
By DOREEN POLOH WAIM
THE Nationwide Micro Bank is set to open a new sub-branch in Finschhafen, Morobe province, next month.
Chief executive officer Lionel Somaratne yesterday said the closure of the Bank of South Pacific in the area nearly eight years ago had adversely affected the people.
They did not have access to banking services.
He said those who had difficulties in accessing a formal financial institution would now be able to do so with NWM services.
Mr Somaratne said one of their long-term visions was to provide accessible banking facilities to the people, particularly those in the rural areas.
“NMB is aimed at catering for all people, especially the grassroots, who are mostly involved in smallholder agriculture and small enterprises,” he said.
The new office is also part of the bank’s expansion programme along with recent units in Bulolo, Madang, Lihir, Mt Hagen and Port Moresby.
Other branches included Lae, Wewak, Kainantu and Wau where it was based and known as the Wau Micro-bank.
He said the Finschhafen unit could be upgraded to a branch “depending on its performance”.
Marketing officer Julie Pia said NMB was currently providing savings facility to about 50,000 individuals and 18,000 borrowers.
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