Minister: NDB changing lives

 THE National Development Bank (NDB), a government owned bank, is having a huge impact on the lives of ordinary Papua New Guineans, Agriculture and Livestock Minister Tommy Tomscoll said. 

Tomscoll said that during the opening of the NDB and People’s Micro Bank Ltd (PMBL), Popondetta branches on Wednesday.

However, he said NDB was far from creating more banking services compared to the commercial banks. 

“NDB has become stable and profitable through clear vision, strong corporate governance and government back up.

“NDB is far from creating a huge impact to the nation as a whole, in that it only provides approximately 2% of the demand for banking and financial services in the country.

“The other 98% is currently provided by commercial banks and private commercial financial institutions.”

He said more work was required to make banking services accessible to the large unbanked population.

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