Microbank opens 5th branch in Bulolo

THE Wau Microbank (WMB) opened its fifth branch in Bulolo last Tuesday.
The branch is housed in a PNG Forest Product building that was renovated by WMB at a cost of K40,000.
Bulolo MP Sam Basil jointly opened the branch with WMB board chairman Ray Clark.
Mr Clark said WMB will give ordinary people access to a banking service that could help them save and obtain capital loans.
He said the bank plans to expand to other areas in PNG to become the leading national level micro-bank.
Mr Clark said the creation of the new WMB branch is a positive sign that the bank is growing.
He thanked all those involved including Asian Development Bank (ADB), the Papua New Guinea Government, AusAID and Bank of PNG (BPNG) in the setting up of the micro-banking service.
WMB’s first branch was opened in Wau in 2004, which was later replicated in Lae, Kainantu and Wewak, respectively.