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Members Update Public Notice Archives

Timely Allocation Of Contributions From Employers

Dear Valued Members,

We are currently experiencing delays with timely allocation of employer contributions due to BSP’s new core banking system. The new does not allow NCSL to download bank statements with complete descriptions on deposits

Members are encouraged to use alternative bank accounts listed below when transferring contributions.

Your cooperation is greatly appreciated as we work with BSP to resolve this issue. If you have any questions or concerns, please contact our call centre on +675 207 2000.

Authorized by Management

Categories
Notice of the day (Archives)

2023 Employer Presentation

HILTON HOTEL – BANQUET HALL 3

2023-Employer-Presentation

Categories
Public Notice Archives

2023 Employer Presentation

HILTON HOTEL – BANQUET HALL 3

2023-Employer-Presentation

 

Categories
Members Notice/Update (Archives) Public Notice Archives

Members Update

Dear Valued Members,

Our Port Moresby and Waigani Branches are currently offline

We are working hard to restore full services and will advise once both branches are back online

We apologize for any inconvinience caused

Please contact our call centre on (+675) 207 2000 for all your enquires or visit our Boroko branch

Authorized by Management

Categories
Notice of the day (Archives)

ncsl announces K16.1M Profit and Interest Crediting Rate of 6.0%

Nasfund Contributors Savings and Loan (ncsl) continues strong income and profitability momentum
delivering a healthy crediting rate of 6% to members, despite a challenging economic backdrop.
The ncsl Board has approved an interest crediting rate of 6% to ncsl members for the financial year
ending 31 December 2022.
This equates to K 14.9 million that will be allocated to the savings accounts of over 142,000 members.
During 2022 ncsl paid an interim interest of 1.2% to members’ savings, equating to K 3 million. After
statutory reserving of 20%, ncsl will be paying an additional 4.8 % or K 11.9 million in interest to members.
This is a total of 6% for the 2022 financial year equating to a total of K 14.9 million interest on savings for
ncsl members.
Other highlights for 2022 were:
* Total Assets increased by 9.1% to K 312.5 million
* Net Asset Value increased by 15.8% to K 38.5 million
* Revenue from core business increased by just over 6.6% to K 29.4 million
* Total Revenue increased by 8.5% to K 39.5 million.
* Net Profit increased by 16.4% to K 16.1 million (after expenses including interim Interest Payment to
Members and Loan Provisioning)
* Sound General Reserves increased by 20.3% to K 24.8 million,
* Interim Interest Payments to Members increased by 9.6% to K3.0 million.
* Total membership increased by 0.4% to 142,340 members
* Members Savings increased by 8.2 % to K 267.9 million.
* Net Loan portfolio increased by 9.6% to K 139.4 million

NCSL’s final interest crediting rate of 6.0% is above the average crediting rate of 5.5% paid to members
over the last 5 years and maintains ncsl’s record of providing strong, positive, and consistent returns on member funds deposited with ncsl. With steadily increasing membership, ncsl is one of the largest
Savings and Loan Societies in Papua New Guinea and the Pacific Region.
NCSL Chairman Mr Tarutia said, “NCSL continues to grow from strength to strength, and remains
committed to supporting the aspirations of our members by delivering essential and affordable financial
services. I thank the Chief Executive Officer, Vari Lahui and his hard-working team for delivering these
strong results over 2022 for the benefit of our members.”

 

AUTHORISED BY IAN A. TARUTIA, OBE

ncsl-annouces-K16.1M-Profit-and-6-Interest-Crediting-Rate

Categories
Media Release (Archives) Public Notice Archives

ncsl announces K16.1M Profit and Interest Crediting Rate of 6.0%

Nasfund Contributors Savings and Loan (ncsl) continues strong income and profitability momentum delivering a healthy crediting rate of 6% to members, despite a challenging economic backdrop. The ncsl Board has approved an interest crediting rate of 6% to ncsl members for the financial year ending 31 December 2022.

This equates to K 14.9 million that will be allocated to the savings accounts of over 142,000 members. During 2022 ncsl paid an interim interest of 1.2% to members’ savings, equating to K 3 million. After statutory reserving of 20%, ncsl will be paying an additional 4.8 % or K 11.9 million in interest to members. This is a total of 6% for the 2022 financial year equating to a total of K 14.9 million interest on savings for ncsl members.

Other highlights for 2022 were:
* Total Assets increased by 9.1% to K 312.5 million
* Net Asset Value increased by 15.8% to K 38.5 million
* Revenue from core business increased by just over 6.6% to K 29.4 million
* Total Revenue increased by 8.5% to K 39.5 million.
* Net Profit increased by 16.4% to K 16.1 million (after expenses including interim Interest Payment to Members and Loan Provisioning)
* Sound General Reserves increased by 20.3% to K 24.8 million,
* Interim Interest Payments to Members increased by 9.6% to K3.0 million.
* Total membership increased by 0.4% to 142,340 members
* Members Savings increased by 8.2 % to K 267.9 million.
* Net Loan portfolio increased by 9.6% to K 139.4 million
NCSL’s final interest crediting rate of 6.0% is above the average crediting rate of 5.5% paid to members over the last 5 years and maintains ncsl’s record of providing strong, positive, and consistent returns on member funds deposited with ncsl. With steadily increasing membership, ncsl is one of the largest Savings and Loan Societies in Papua New Guinea and the Pacific Region.

NCSL Chairman Mr Tarutia said, “NCSL continues to grow from strength to strength, and remains committed to supporting the aspirations of our members by delivering essential and affordable financial services. I thank the Chief Executive Officer, Vari Lahui and his hard-working team for delivering these strong results over 2022 for the benefit of our members.”

AUTHORISED BY

IAN A. TARUTIA, OBE

ncsl-annouces-K16.1M-Profit-and-6-Interest-Crediting-Rate

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