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ASX / PNGX announcement kinabank 27 August 2021 Kina Securities Limited continues growth momentum The Board of Kina Securities Limited ( ASX : KSL | PNGX : KSL ) ( Kina or the Company ) is pleased to report continued solid growth for the half - year to 30 June 2021 . Financial Highlights • • NPAT up 36 % to PGK 39.8m against the prior corresponding period ( PCP ) FX grew 3 % on PCP • Net interest income up 6 % to PGK 85.4m on PCP Non - interest income up 2 % on PCP to PGK 70.3m Revenue up 4 % to PGK 155.7m on PCP Interim dividend of AUD 3.00 cents per share or PGK 8.25 toea per share . Capital adequacy at 23.3 % Kina achieved an unaudited statutory net profit after tax of PGK 39.8m for the half - year ended 30 June 2021 ( 1H2021 ) . This represents growth of 36 % compared to the prior corresponding period . The Board has declared an unfranked interim dividend of AUD 3.00 cents per share or PGK 8.25 toea per share . This compares with an interim dividend per share of AUD 4.0 cents per share of PGK 10.0 toea per share for the prior corresponding period . The result was achieved through Kina's delivery on its commitment to increase transactional volumes via its digital platforms , which contributed to the overall uplift in fees and commissions income by 10 % compared with the PCP . In 1H2021 , Kina continued to reshape the customer experience through its focus on in - branch performance and its digital concierge service . This delivered streamlined digital account opening and enhanced customer self - service through free in - branch internet banking . Merchant relationship management also continued to be a key focus with targeted marketing of key products and services . Continued stable foreign exchange ( FX ) trading income , an increase in the loan book , investment in high yielding government securities , and lower cost of funds contributed positively to the overall performance of the business . Kina continued to reduce the cost of operations following the ANZ PNG acquisition . This resulted in a cost to income ratio of 60.9 % compared to the PCP of 64.9 % . A positive result amidst the Covid - 19 pandemic and the associated costs incurred to ensure customer and staff health and safety . Key features of the 1H2021 result • Increase in NPAT by 36 % to PGK 39.8m against the PCP . Net Interest Income increased by 6 % to PGK 85.4m compared to PGK 80.4m in the PCP , achieved through growth in the existing loan book , investment in high yielding government instruments and lower interest expense ( against total deposits ) compared to the PCP . FX grew by 3 % supported by inflows from new to business commodity exporters on - boarded in the first half . Overall performance was however subdued by covid - 19 constraints . Fees and Commissions increased by 10 % against the PCP to PGK 40.4m primarily through continued development of our channel network . The organic growth and digital expansion resulted in an increment of 66 % in digital and channel fees against the PCP . together it's possible Level 9 , Kina Bank Haus Douglas Street PO Box 1141 Port Moresby NCD 121 PAPUA NEW GUINEA Telephone +675 308 3800 Facsimile +675 308 3899 Email Kina@kina.com.pg Swift KINIPGPG www.kina.com.pg