KSL – Morgans rates the stock as Add
For Kina Securities, the broker makes no changes to earnings forecasts and the Add rating, though raises the target price to $1.29 from $1.20 on a valuation roll forward.
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Kina Securities Limited
Kina Bank was established in Papua New Guinea in 1985 as a diversified financial services company. We’re listed on both the Australian and Port Moresby Stock Exchanges and are distinguished for our funds administration, funds management and stockbroking, which complement our banking services.
Kina Bank service retail, commercial and SME customers across the country and offer end-to-end financial solutions from savings accounts to small business loans, investments to mortgages, financial advice and investment management. Kina Bank are committed to delivering exceptional service and this is what sets us apart in the market.
In June 2018, Kina Bank’s founding and major shareholder Fu Shan Investment Ltd sold their entire stake in Kina Bank. The sell-down, managed by Morgans Financial Ltd, prompted strong demand from both PNG and overseas investors. Shares were bought by a range of new and existing institutional and retail investors in Papua New Guinea and Australia.
Kina Bank also announced the proposed acquisition of ANZ PNG’s retail, commercial and SME businesses, which would include all retail branches, ATMs and EFTPOS terminals. The proposed acquisition will make Kina Bank the second largest bank in PNG and a genuine, better alternative banking option for customers and communities. With a comprehensive national footprint Kina Bank will expand our distribution network and enhance our suite of products and services. It will also bring many new jobs to PNG which are currently performed off-shore.
Our aspiration is to be PNG’s leading digital bank and our dynamic approach means Kina Bank is excited to be at the forefront of new technologies. Kina Bank banking platform is one of the newest and most contemporary in the region with a world-leading digital capability and Kina Bank offer best-in-class products such as our mobile banking app and superannuation app, as well as exceptional service.
Kina Bank operates through two customer focused business divisions: Wealth Management and Banking.
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News
KSL – Morgans rates the stock as Add
The broker maintains its Add rating. The target falls to $1.28 from $1.31.
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KSL – Morgans rates the stock as Add
Kina Securities announced an agreement to acquire Westpac Bank's ((WBC)) businesses in the Pacific (PNG and Fiji) for $420m. This will make Kina Securities the third largest bank in Fiji.
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Are The Banks Perfume Or Poison To Investors?
Assuming the lack of a bad debt apocalypse, the big banks certainly look cheap. But the smaller banks look even cheaper, which suggests there’s better value at the minnow end which is more oriented to mortgages than business lending.
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KSL – Morgans rates the stock as Add
Kina Securities profit beat the broker by 6% on 7% better than expected revenues. It was a very solid result, the broker suggests, in a period the company bedded down the transitional ANZ PNG acquisition. Cost-to-income has risen slightly but Kina is creating a solid recent track record of delivery to complement its strong organic growth profile.
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KSL – Morgans rates the stock as Add
Asia Development Bank will invest US$10m in Kina Securities by way of a placement at $1.37 a share. Morgans assesses the deal will strengthen the company's banking relationships and provide access to ADB expertise.
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ANZ Completes Sale Of PNG Retail Banking To Kina Securities
Ahead of its September 30 balance date for its 2018-19 financial year ANZ Bank has completed the sale of its retail and small business banking operations in Papua New Guinea.
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Poised For Recovery? Ten Beaten Down Small Caps That Might Rock In 2019
With so many investment babies being thrown out with the murky bathwater, do opportunities abound for the fearless, especially given the market’s positive start to the year?
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Which Other Bank?
Which bank is the most “unquestionably strong” of its ASX-listed cohorts on a capital adequacy basis and also produces the highest net interest margins and sector-leading lending growth?
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