Group providing platform for growing opportunities

THE Credit Corporation group remains focused on maintaining a strong balance sheet that provides a solid platform to take full advantage of growth opportunities as the global and local economies recover, according to the company.
Chief executive officer Peter Aitsi said the strength of the group’s relationships with customers, institutional shareholders, banking partners and regulators in each jurisdiction had been mutually beneficial in terms of successfully navigating through these uncertain times.
“While it is presently difficult to predict the duration of the recovery from the pandemic, the group will maintain a prudent approach to risk, and focus on disciplined operational execution,” Aitsi said.
“It also remains well capitalised with a strong balance sheet and plenty of liquidity to continue to support its customers.
“Importantly, with economic conditions expected to show modest improvement in 2021, Credit Corporation is well placed to continue to support customers and rebound from the challenges of FY20 (2020 financial year).
“And with the recently announced changes to the competitive landscape in Papua New Guinea’s banking sector, the group is well positioned to strengthen its market position.
“I believe that being there for our customers and help, support and demonstrate value-add in the challenging FY20 environment has given us a major reputational boost in our markets.
“There is no doubt we are now in a stronger position than six months ago, and we remain cautiously optimistic regarding the Covid-19 situation and the economies of PNG and the Pacific.”