HILTON HOTEL – BANQUET HALL 3
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2023 Employer Presentation
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
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
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
Poro Card Update
Dear Valued Members,
We are continuing efforts to restore the Poro Card network. Our technical team is running important tests and checks on our Poro Card network.
Poro card services will continue to be offline until further notice. We are working closely with the regulator to finalize this matter.
In the meantime, funds in the Poro accounts can be accessed by initiating transfers to your commercial bank account. If you have any queries regarding accessing your Poro card funds, please contact our call centre on 2072000 between 8am and 5pm Monday to Friday.
We sincerely apologise for any inconvenience caused and thank you for your understanding.
Authorized by Management
Dear Valued Members
We are pleased to advise that services at our Mount Hagen branch have been restored and it is now fully operational. Services at our NCD and Lae branches have also been restored and they are now fully operational
We are working towards restoring services at the other branches and will provide progressive updates.
We apologise for any inconvenience caused and thank you for your patience.
If you have any queries or concerns, please contact our call centre on 2072000.
Authorized by Management
Dear Valued Members
Our technical team are continuing to run important tests and checks on our Poro Card Network. This has taken longer than expected. Poro cards services will continue to be offline until further notice
We are working closely with the regulator to improve this situation and will provide updates as soon as they become available
Poro card funds can be accessed by transfering funds to your commercial bank account. If you are transfering funds to a BSP account, pleas expect delays to the normal processing time due to circumstances beyond our control.
We sincerely apologise for any inconvinience caused and thank you for your understanding
Authorized by Management
Dear Valued Members
We are pleased to inform members that services have been fully restored to our lae branch.
We thank you for your patience and understand as we work to restore connectivity to our branches nationwide. We will provide updates as soon as they become available.
Please contact our call centre on 207 2000 if you have any further enquiries.
Authorized by Management
Dear Valued Members
Following delays caused by BSP’s system upgrade over the Easter long weekend, all transfers to BSP accounts made from thursday 6th of April to Friday 14th of April 2023, have now been manually processed
If you have made a transfer during this period from your poro account to your BSP account, these funds will be now available
If you are awaiting a loan drawdown to be credits to your BSP account which was approved during this period, these will now be available
We thank you for your patience and apologize for any inconvenience caused by the delay.
Authorized by Management
