PNG Microfinance branches move into one centre

PNG Microfinance Ltd (PML) has brought together its two Port Moresby branches to one location at the Waigani Shopping Centre opposite Boroko Motors, in Port Moresby.
Senior branch manager Rex Noga said the facility was bigger than their previous head office at Boroko.
The other branch used to be at Koki.
This new facility has office space of 760 square metres and can cater for 200 customers at any one time.
The branch opened yesterday and began serving customers immediately.
Noga said they had 24 staff working at the new location.
He said their target customers were low-income earners, small businesses and those in the informal sector.
Noga said PML also carried out financial awareness activities where teams educated people about their products and the advantage of using banking services.
PML has nine main branches and two service centres. It has seven savings products and five loan products.
PML has more than 90,000 depositors and 3000 borrowers.
PNG Sustainable Development Programme and International Finance Corporation are the main shareholders of PML.