Microbank targets rural people

 THE Nationwide Mi-crobank (Microbank) has been visiting rural communities to educate the people of its unique services and products.

The visit was part of a move to increase awareness on the services and products available to potential clients and to encourage them to open accounts with the bank.

Last Saturday, a team of 13 staff from Microbank, led by head of sales and customer service Trudi Egi, visited Tuberseria village. 

Egi said the bank wanted to provide simple products for grassroots people and to urge them to open bank accounts.

He said many of the village people did not have identification needed to satisfy the requirements of commercial banks. 

Egi said the Nationwide Microbank worked within the village communities to establish identification  other than photo IDs.

Managing director Tony Westaway said: “Nationwide Microbank was licenced and regulated by the Bank of Papua New Guinea. 

“We are entrusted to look after depositors funds currently in excess of K64 million kina. 

“The bank had already lent in excess of K70 million to more than 30,000 people since its creation,” Westaway said.

Last month, the microbank opened an account for its 100,000th customer in Goroka, who was unable to open a bank account with another commercial bank. 

Egi said the Nationwide Microbank had been opening 500 accounts every week for rural  people. 

Tuberseria was only one of many other Motuan villages to be visited by Egi and his team.