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Articles & Analysis | Term deposit rates hold from The Report: Papua New Guinea 2017

 

Term deposits include investments offered by the commercial banks and financial institutions of Papua New Guinea. The terms range from 30-day deposits to 364-day deposits. According to the Bank of PNG (BPNG), the country has four commercial banks and 11 authorised deposit-receiving financial institutions.

 

Since the end of 2015 the Port Moresby Stock Exchange (POMSoX) has seen four companies exit for various reasons, decreasing the number of listed companies from 19 to 15. However, the same year saw an increase in the overall market value of the bourse from PGK51.3bn ($16.3bn) to PGK78bn ($24.7bn).

 

In what way do you see the shortage of foreign exchange in Papua New Guinea developing?

 

What approach are banks taking to increase financial literacy, and how can this impact the economy?

 

Papua New Guinea’s banking sector is sound, stable and profitable. Despite slow economic growth in the country in recent years, institutions have managed their exposures well and entered the current weak patch in a strong position. They are generating good results and investing in future growth. Regulation is solid and improving, with the...

 

By most measures Papua New Guinea is under-banked. Branch density is low and has not risen in at least a decade, while the loan-to-GDP ratio is 31%, well below that reported by neighbours and peers. The Philippines is at 41%, Solomon Islands 38%, Thailand 151%, Vietnam 111% and Indonesia 39%. It is estimated that only 20% of people in PNG have...