Innovation. Vision.
Annual Report 2022
ARBN 606 168 594
In memoriam
We're saddened to report the loss of six valued and beloved employees and a former board director and Chairman during 2022 and at the start of 2023.
We thank all our people for the extraordinary effort that they have made to help their families rebuild their lives. Our support and sympathies are extended to the families of the late Madeline Gabiobu, Rai Gia, Jennifer Goma, Dessie Buka, Andrew Soro Mongagi and Brolin Kipma.
We also mourn with the people of East New Britain and Papua New Guinea for the loss of Rt Hon. Sir Rabbie Langanai Namaliu GCL KCMG PC. Following his distinguished political career, the late Sir Rabbie served as a non-executive board member and eventually as Chairman for Kina Securities from
2000 to 2017. We are extremely grateful to have had the privilege of his leadership and guidance. He performed his duties with great energy and the utmost professionalism. His achievements include leading the renewal of the Board and Management Team and guiding Kina Bank's growth and sustainable performance during his tenure as Chairman.
Madeline Gabiobu
Rai Gia
Jennifer Goma
Dessie Buka
Andrew Soro Mongagi
Brolin Kipma
"Blessed are they that mourn: for they shall be comforted."
Rt. Hon. Sir Rabbie Namaliu
GLC KMCG PC
1947 - 2023
Matthew 5:4
Financial Snapshot
Statutory NPAT
PGK 116.5 million
Up 65%*
Revenue
PGK 366.5 million
Deposits
PGK 3,879 million
Up 28%
Net Loan & Advances
PGK 2,159 million
Up 10% | Up 11% |
Customers
207,946
Up 19%
Return on Equity (ROE)
FY22
FY21
19.6%
12.3%
Capital Adequacy | |
FY22 | 22.5% |
FY21 | 23.3% |
15.3% Market Share Lending
12.9^ Market Share Deposits
*impact of 45% increase in DTA, hence decrease in ITE
Contents.
01 About
Our Values | 5 |
About Kina | 8 |
04 Board
Board of Directors | 23 |
02 Message
Chairman's Message | 11 |
Managing Director and Chief | |
Executive Officer Messages | 13 |
03 Segments
Our Segments | 16 |
Strategic Overview | 17 |
05 Executives
Senior Executive Team | 27 |
06 Remuneration Report
1 Introduction & overview to shareholders | 33 |
2 Kina's Key Management Personal (KMP) | 33 |
3 Executive remuneration | 34 |
4 Non-executive director arrangements | 44 |
5 Related party transactions | 45 |
6 Directors' interest in shares | 45 |
3
07 Corporate | 09 Shareholder | |||
Governance | ||||
Shareholder Information | 140 | |||
Corporate Governance | 48 |
08 Directors' Report
Directors' Report | 66 |
Directors' Declaration | 69 |
Independent Auditors' Report | 70 |
Statements of Comprehensive Income | 75 |
Statements of Financial Position | 76 |
Statements of Changes in Equity | 77 |
Statements of Cash Flows | 78 |
Notes to the Financial Statements | 79 |
10 Corporate Directory
Corporate Directory | 142 |
4