Duma plans to commercialise NDB

MINISTER for Public Enterprise and State Investment William Duma is planning to commercialise the National Development Bank to provide competitive service for the people in future.
He was speaking on Friday after the appointment of three new NDB board members.
“NDB is currently the lending bank in the country,” Duma said.
“It offers a range of products and services that can be tailor-suited to people and their business-specific needs.
“The old commercial banks like Westpac, ANZ, BSP and Kina banks have adequately serviced our people for so long.”
Duma said assessment of these banks showed that there was a need for another commercial bank.
“The NDB always strives to offer products at competitive rates, with emphasis on providing affordable and sustainable finance to
ordinary Papua New Guineans and rural and urban entrepreneurs,” he said. “We are looking at ways the commercial banks like Westpac,
ANZ, BSP and Kina banks are operating and serving our people.
“We see that there is a space for an additional bank.”
Duma admitted that the commercialisation of NDB would be a long process.