Papua New Guinea central bank posts record profit

The Bank of Papua New Guinea posted a record profit of 68m kina for last year on Tuesday. The bank posted a profit of 54m kina in 2002 and paid 50m kina of that to the state.

Central bank Governor Wilson Kamit attributed this "major achievement" to the prudent management strategies and guidelines enforced on the Bank of Papua New Guinea [BPNG] management by its board of directors.

The BPNG board approved the dividend to the government as 50m kina after a transfer of 18m kina to the reserve fund

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