24 Mar 2005

ANZ Bank to service rural areas of PNG and Solomons - report

10:21 am on 24 March 2005

A report from Fiji says the ANZ Bank has identified Papua New Guinea and Solomon Islands as high demand markets for rural banking.

Fijilive reports ANZ hopes to begin rural banking schemes in PNG and Solomon Islands by mid-May.

The ANZ managing director for the Pacific region, Bob Lyon is quoted as saying the bank has decided to extend its rural services to other Pacific Islands apart from Fiji and Samoa.

ANZ has recently signed a memorandum of understanding with PNG Post, which will help it extend its reach to rural areas there.

The United Nations Development Programme has helped ANZ in services within Fiji.

The UNDP has already begun preparations to offer financial literacy programmes in PNG and the Solomon Islands later this year.