Thursday, March 08, 2012

ANZ chief: Bright future for PNG


ANZ PNG chief executive Vishu Mohan has painted a bright picture for Papua New Guinea, The National reports.

 He however cautioned that good political leadership and governance were preconditions.
“I think the future augurs very well for the country, with good political leadership and governance,” he told The National.

ANZ PNG chief executive Vishu Mohan...optimistic of a bright future for PNG

“I think this country has the potential to become one of the highest per capita GDPs in the region.
“Nothing will stop this country going even further.
“There are a lot of good things happening for the country.
“All it needs is stable leadership and good governance.”
Mohan said ANZ PNG was doing very well with the favourable economic climate.
“We had a good financial year last year,” he revealed.
“This year, generally, we started off very well.
“Our market is still highly liquid, so borrowers are not borrowing as much as we want.
“The good news is that the PNG economy is doing very well.”
Mohan said ANZ PNG currently employed about 600 staff at its 13 branches around the country, and had 56 ATMs and EFTPOS.
He said ANZ Lae branch would move to Second Street this month after the fire at Fourth Street last July, which forced it to leave ANZ Haus for the main market.
A new branch will also be opened on gold-rich Lihir Island this month.
“After the fire we transferred operations to Lae market,” he said.
“We are almost ready to move into temporary premises opposite Melanesian Hotel, which should open up this month.
“We are also opening a branch on Lihir,” he said.
They are hoping to commission the unit next week with a formal opening soon.
Mohan said ANZ PNG was also working on other developments, announcements which would be made soon.
“We are very committed to investing in this country with our products and services,” he said.
Mohan said the bank was also expanding its distribution channels

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