The entry of Papua New Guinea’s Kina bank into the fairly competitive Fiji market later this year will bring a range of digital products that should stimulate further innovation in the sector and more choice for customers.
Kina announced it was acquiring Westpac’s PNG and Fiji businesses last year, marking the end of the Australian bank’s long history in both countries. Westpac (then the bank of New South Wales) opened its first branch in Suva in 1901 and began operating in Port Moresby nine years later. Those countries are their economies are dramatically different now.
Kina has been through a similar process with another Australian bank, ANZ, quite recently. In . . .
