Ann: Results of 2023 AGM, page-20

long time lurker, ex-PNG expat.

Central Bank would never allow the merger of BSP + KSL. The licenses held by the 2 companies would destroy all competition as they are both competitors in the same markets. Sharetrading + Lending + Banking + FX. Kina has both the Superannuation Member Services as well as the Investment Management. The monopoly just wouldn't work. There are a number of small players in the financial markets that I would hope the Central Bank would want to protect and it will be interesting watching how the banking sector pans out with Credit Corp having selected a Core Banking system provider (with the associated strategy) & possibly TISA still in the mix - not sure why that one hasn't moved as it looked like they were after a banking license.

Kina and ANZ was always a given, WBC was a disappointment however I haven't looked at the WBC metrics to see how much of their loan book has moved across to Kina anyway.

BSP are really hurting now with business and retail suffering through the Core Banking Upgrade that went horribly wrong.