Microbank expecting more clients

THE People’s Microbank (PMB) expects the number of customers to increase from 80,000 to 150,000 by the end of next year.
Bank chief executive Anthony Dela Cruz said that the increase would come on the back of the recent interchange it entered into with Bank of South Pacific.
“At the moment, we operate seven branches in different locations. The biggest centres are in Boroko followed by Mt Hagen,” Cruz said.
“The others are also catching up like Madang and Wewak.
“For Boroko, a rough estimate would be about 35,000 customers.
“Kimbe has huge potential because of the oil palm industry based there. We should see an increase as we only started there a few months ago.
“We foresee a massive increase in all of our centres because of the interchange with BSP. It should be at about 150,000 by 2018.
PMB board chairman Julius Yeoh said that the bank aimed to increase the market with new customers.
“We want to grow the number of people in the market. So it is not about being competitive but complementing other banks in the sector for the benefit of people and assisting them in realising their financial aspirations that they may not have had before.”