Sir Rabbie pleased with Kina Bank’s progress

OUTGOING Kina Group chairman Sir Rabbie Namaliu will be retiring after the next annual general meeting next week.
He told The National that he was pleased with the bank’s progressive growth and was confident of this continuing. The highlight of his chairmanship was the acquisition of Maybank in 2014 marking the entrance of the Group into the banking sector, he said.
“Wayne Golding a Non-Executive Director of Kina Securities Limited and I will be retiring next week with the new prudential requirements by the Bank of Papua New Guinea where you are only allowed to serve nine years on the board and then it is mandatory that you retire,” he said.
“Wayne has actually been there for longer from the beginning and I have been there just under nine years. And Kelly (Kina Securities director Isikeli Taureka) will be appointed as the new chairman at our annual general meeting next week and he will be taking over from me.
“I am very pleased having been part of the growth of this business over that last nine years and I think today’s opening shows that all is well for the future of Kina and I am confident of it growing further.
“The biggest highlight was the acquisition of Maybank and that’s what took us into the banking business. That is easily the biggest event for me in my time as the chairman. The acquisition also made us take up Maybank position as the fourth largest bank in PNG.”