Competition in any business space aims to achieve better service delivery and cover a wider geographical area in terms of products and services offered.
Papua New Guinea’s banking sector under the watch of regulator, the Bank of PNG, has had an unequal share of the market among the big players over many years. But with operations of international banks either declining or ceasing in the country lately for various reasons, acquisitions are taking place and smaller non-bank players are emerging in the commercial banking space.
Maintaining competition in the commercial banking market and determining the players is a challenge for Bank of PNG, the Independent Consumer and Competition Commission and other relevant authorities, to find the best fit for Papua New Guineans.
Here’s Dennis Orere with this week’s A Closer Look.
Негізгі бет ACL Banking Sector Competition
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