Kina Securities Limited (Kina Bank) was established in Papua New Guinea (PNG) in 1985 as a diversified financial services company. It offers customers end-to-end financial solutions from savings accounts to small business loans, investments to mortgages, stockbroking and financial advice, investment management and funds administration.
Kina Bank's vision is to be the most dynamic, progressive and accessible financial services company in PNG and aspires to be PNG's leading digital bank.
In May 2015, Kina Bank undertook an initial public offering (IPO) of Kina shares and listed as a Public Company on the Australian Securities Exchange and the Port Moresby Stock Exchange (POMSoX) in July 2015. Kina Bank completed the acquisition of Maybank PNG, the PNG banking operations of Malayan Banking Berhad in September 2015.
Kina Bank's founding and major shareholder Fu Shan Investment Ltd sold their entire stake in Kina Bank in June 2018Opens in new window. The sell-down, managed by Morgans Financial Ltd, prompted strong demand from both PNG and overseas investors. Fu Shan's shares were bought by a range of new and existing institutional and retail investors in PNG and Australia.
Also in June 2018, Kina Bank announcedOpens in new window the acquisition of ANZ PNG's retail, commercial and SME businesses, including all retail branches, ATMs and EFTPOS terminals. The acquisition will make Kina Bank the second largest retail bank in PNG with a comprehensive national footprint.
As a diversified financial services company, Kina Bank is:
- the largest wealth management business in PNG, with over K7 billion of funds under management;
- the largest fund administrator in PNG, administering accounts on behalf of more than 700,000 beneficiaries whose funds total approximately K12 billion; and
- the leading stockbroking company in PNG, transacting a substantial percentage of trades on POMSoX.
This section provides investors with daily and historical security price information, important key dates, financial reports, presentations and other important information about the company.