Fast-track loan applications


I BRING to the public’s attention and the commercial banks’ management that some loans officers in commercial banks could be delaying the processing of loan applications to solicit bribes from loyal customers of the banks.
That is, an application is fast-tracked only if a bribe is obtained.
I have seen that practice occur at three banks in the country.
I submitted a personal loan application to a bank and it took them four weeks to make a decision on my application without advising me if I needed to provide additional information.
They informed me that my application was in cue to be processed, but it has taken so long.
I am a loyal customer of that bank and it is very disappointing.
I want the management to fast-track all pending applications and provide customers with an immediate response instead of waiting for customers to promise them a cut of the total loan amount.

John Sofa,
Port Moresby