NSLS announces 5% interest credit

The Board of Nambawan Savings and Loan Society [NSLS] has announced a five percent (5%) interest credit for the 2025 financial year.

This marks the second consecutive year the Society has maintained the same rate for its members.

The NSLS board and management made this announcement during a media conference in Port Moresby today.

NSLS Board Chairman John Cholai says the five percent interest will be credited to all active member accounts across its savings products.

It will also be credited to other accounts for the Society’s special purpose long-term savings products to ensure members with these accounts continue to receive additional bonus interest when their savings reach maturity dates.

"So the 5% interest will be credited to all active members accounts across all savings products. This includes the society's special purpose long-term savings products include: Pikinini, Tertiary and housing accounts.

"In addition to this 5% credit, members are remainded that these specific products are earn furthur bonus interest upon reaching their majurity dates, rewarding those who save consistently for their future," Mr Cholai said.

The Society says the announcement reflects another year of strong financial performance.

NSLS Chief Executive Officer John Solok says the Society recorded a Net Profit After Tax of K8.9 million, representing a 19 percent [19%] increase compared to the previous financial year.

He says total assets also grew significantly by 24.7 percent [24.7%], increasing from K163 million to K203.4 million in 2025.

He also attributes the growth to rapid loan growth, which rose by 22 percent to K92.4 million from K75.9 million in the previous year. Improved investment income also contributed to the strong performance.

Mr Solok adds that despite increased lending activities, the Society maintained low credit risk levels.

Meanwhile, membership growth also remained strong, increasing by 20.3 percent [20.3%] this year, bringing the total number of members to more than 66,000 nationwide.

The Society further reported high customer confidence and loyalty, recording a Net Promoter Score of 39 percent [39%] and a customer satisfaction rating of 83 percent, both above industry averages.

Employee satisfaction also remained high at 89 percent, while the Society’s top-of-mind brand awareness reached 44 percent [44%].

NSLS thank its members for their continued trust and support, saying it remains committed to helping members grow their savings and secure their financial future.