NDB Wewak branch first to have micro-bank

Business, Normal

The National, Friday, 27th May 2011

THE National Development Bank (NDB) branch in Wewak, East Sepik, will be the first in the country to have a micro-bank, managing director Richard Maru said yesterday.
“NDB will shortly be awarding the tender for a two-storey Wewak office which will be a significant boost to our presence in the province in line with our plans to establish the NDB microbank once we get our licence which NDB will be applying for next month,” Maru said.
“We want to have a modern office in Wewak to improve banking services for the people,” Maru said.
Maru said the people of East Sepik had embraced the banking services with the Wewak branch being one of the busiest in the province.
He said a lot of people were not using the commercial banks because of their stringent policies and requirements making it hard for ordinary Papua New Guineans.
He said finance minister Peter O’Neill would assist with K20 million to start the project and the NDB microbank would offer retail and passbook services for its customers.
Maru made the remarks when making a sponsorship of K7,500 towards the Sepik Ironman competition yesterday.