Tisa applies for banking licence


THE Teachers Savings and Loans Society Ltd (Tisa) subsidiary Tisa Community Finance Ltd has applied for a banking licence to the Bank of PNG, says group chief executive officer Michael Koisen.
“The Bank of PNG is currently assessing our application and Tisa is working with the BPNG in facilitating the assessment process,” he said.
“The country needs another local bank and Tisa is prepared to step up to meet that need.”
On the group’s performance, Koisen said: “Our operational and financial performance continues to remain strong despite the impact of the Covid-19 pandemic.
“Both our loan and savings books continue to grow.
“We have made some significant re-investment into the business, including upgrading our core banking system, processes and people whilst addressing the needs of our members.
“We will continue to provide products and services at an affordable price. We plan to introduce some new digitalised platforms to serve our members.
“We intend to extend our services and membership to private sector employees. There is a good interest shown and we will sign up new members in 2021.”
Koisen said the Tisa Community Finance Ltd had started commercial lending, particularly to the small- to-medium enterprise sector.
“We are in the process of transforming Tisa to become a stronger and more relevant financial institution,” he said.
“Our objective for 2021 is to create wealth for our members, who are ordinary Papua New Guineans and have contributed to the growth of the organisation.”
On the economy, Koisen said: “The current state of economy is subdued, which is in line with the current state of the global economy as a result of the Covid-19 pandemic.”


  • Pefect timing. NCSL should look into an opportunity like this as well.
    Just stay clear from handling all cheques and payments associated with corruption and you should see yourself soaring.

  • Excellent Vision, you got an excellent membership base, you gotta excellent performance record and excellent management drivers and definitely you heading the right path of further growth. PNG really needs a new player in the market to challenge the monopoly and bully tactics of existing banks. Its’ best to team up with NCSL, Nasfund and Nambawan Super or else introduce a new company and register on Pom Stock Exchange and issue shares to PNGians to buy shares and become shareholders.

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