18/03/2021
NBV and VNPF have always had a close working relationship. VNPF has been an active shareholder of NBV for many years. Over this time the relationship has supported development of NBV into Vanuatu’s leading bank. In 2020 VNPF increased its shareholding and became the majority shareholder in NBV with 56% ownership. This has seen that the partnership between VNPF & NBV grow even stronger.
NBV understands that we are moving through complicated times as our national government keeps us safe from COVID19. However, this has not stopped NBV developing new financial services across the nation. Today NBV has a growing digital platform with IsiNet & IsiMobile allowing thousands of customers to access their bank accounts on the move at any time. NBV’s customers can now also use ANZ, BRED or BSP EFTPOS and ATM’s to access their money by using their IsiKad at any time. NBV’s agricultural finance programs and microfinance activities continue to be industry leading and are well known across the islands. The development of an earthquake resistant, cyclone resistant fully engineered family home finance solution called IsiHaos for regional, rural and remote Vanuatu remains the first of its kind anywhere in the Pacific.
VNPF members are also now able to pay contributions into their retirement savings accounts using NBV's rural branch network. This is part of VNPF's Informal Sector initiative, which encourages those that are not formally employed - market vendors, fishermen, farmers, kava bar owners and others - to join VNPF as Voluntary Members and start saving for retirement.
The General Manager of VNPF Parmod Achary said “VNPF is looking towards NBV continuing to provide outstanding service to all communities across Vanuatu. At the same time VNPF is looking for NBV to financially perform well given our investment in the bank”
NBV’s Managing Director & Chief Executive Officer Geoff Toone said “If you are a member of VNPF you are an owner in NBV. This means you have a choice to bank with the bank that is truly local. A bank that understands how to support VNPF members retirement goals through this 56% investment in NBV. A bank that retains all profits in Vanuatu for Vanuatu. A bank that is looking to support growth for all in Vanuatu”
The result is Vanuatu’s leading bank is a bank all of the nation should be very proud of. A Bank that holds a special place for any member of VNPF as they plan for retirement. Every VNPF member now has a choice if they want their family’s retirement funds to grow, then they should ask – am I banking with NBV?
