Kina Securities (KSL) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with a quorum and continued in an online format to encourage broad participation.

• Directors, executive team, and auditor were introduced, with the agenda outlined and the 40th anniversary of the company highlighted.

Financial performance review

• Achieved underlying NPAT of PGK 109.5 million and statutory NPAT of PGK 103.3 million, with strong growth in foreign exchange and digital revenues.

• Lending increased by 13% to PGK 2.9 billion; deposit market share rose to 14%; net interest margin reached 5.8%.

• Non-interest income grew 31%, now 54% of total revenues; capital adequacy ratio at 18.4%.

• Final dividend of AUD 0.06, full-year AUD 0.10, payout ratio 74%, consistent with policy.

• Cost-to-income ratio at 59%, reflecting ongoing investments and operational challenges.

Board and executive committee updates

• New CEO Ivan Vidovich and Chairman Ian Klaff introduced, with thanks to outgoing leaders.

• Board remains focused on strategic direction and robust governance, with a new long-term vision for 2026–2030.

• No significant changes in board processes since new Chair's appointment; strategic policy update planned by year-end.