Kina Bank happy to get rights issue on ASX, PNGX

ONE of Kina Bank’s milestones achievements this year was the successful rights issue on the Australian Stock Exchange (ASX) and PNG Exchange (PNGX), chairman Isikeli Taureka says.
Taureka said during an exclusive event last Friday at the Port Moresby Golf Club for clients to reconnect after the Covid-19 lockdown.
“The bank has grown rapidly and aggressively over the last five years and we have brought considerable disruption to the banking industry to become the second largest bank in the country.
“Our aspiration is to continue this growth and bank larger corporates and businesses.
“We see enormous opportunity to target whole-of-wallet banking and we also have a strong strategic direction to position ourselves as PNG’s leading digital bank.
“This equity raising prepares us for the next level of significant, inorganic growth.”
Owner of The Healthy Food company and Kina Bank brand ambassador chef Julz Henao performed a live cooking demonstration and prepared luxurious PNG canapés and desserts.
Henao brought his culinary expertise to the event transforming classic PNG dishes to delight customers.
“I’m passionate about PNG food and nutrition in general.
“I love taking classic PNG dishes and ingredients and putting a modern twist on them. This year has been challenging for all SMEs (small medium enterprises) like myself.
“However, the partnership with Kina Bank has been great in terms of building the profile of my business and leveraging the financial knowledge and products within the bank to assist me to manage through this period.”
Kina Bank treasurer Nathan Wingti said: “We are immensely proud of our partnership with our brand ambassadors, who are all great examples of home-grown successful SMEs.”