ATMs for microbank

 THE People’s Micro Bank (PMBL) will begin the roll out of its automatic telling machines (ATM)  starting at the Boroko branch in Port Moresby next month, chief executive officer Anthony Dela Cruz says.

He said this would be a milestone achievement for a micro bank in Papua New Guinea to have its own ATMs and bank cards.

People’s Micro Bank was launched in April 2013 and is a subsidiary of the National Development Bank.

Since its inception, PMBL has emerged as a very competitive player in the provision in inclusive financial services.

Dela Cruz said in less than two years of operation, the demand for PMBL’s service is significantly increasing on a daily basis.

The Micro Bank currently has a total client base 45,000-plus in its five branches namely Wewak, Madang, Popondetta, Boroko and Mt Hagen.

“Our deposits are growing at K2 million per month, meaning more people are saving. Number of borrowers has grown over 2500 per month with four branches by 2014.

“Our loan book has increased from K2 million to over K16 million all in a span less than two years.”

Dela Cruz said PMBL has launched its mobile banking product recently to increase efficiency.

“The ATM roll out is expected in June, the first location will be at the   Boroko branch,” he said.

“We will have a dedicated room for two ATM machines for customers to withdraw.

“We already have 5000 bank cards ready to issue customers.”

On the 91 per cent unbanked segment in the Highlands region, Dela Cruz said People’s Micro Bank is  targeting the region by establishing a branch in Western Highlands.

“We aim to launch the Mt Hagen branch before the year ends.

“The Mt Hagen branch will be biggest branch of People’s Micro Bank, twice the size of Boroko,” he said.