19 Jun 2008

PNG's Wau Microbank looks to expand

10:20 am on 19 June 2008

Wau Microbank, commonly known as the grassroots bank, has embarked on a major expansion programme that will see it become a national bank within the next five years.

Kick-starting the ambitious plan yesterday, the bank changed its name to Nationwide Microbank Limited and opened its seventh branch, in Port Moresby.

The bank plans to operate 20 branches throughout Papua New Guinea by 2010 and have a client base of more than one million customers by 2013.

The paper, Post Courier says it also plans to list on the Port Moresby Stock Exchange within the next two years.