Kina Securities — Kina Bank, Kina Wealth and financial record

Kina Securities Limited (ASX: KSL; PNGX: KSL) is a Papua New Guinea-incorporated financial-services group. This record covers the consolidated Group for years ended 31 December 2021–2025; the five reports were published 26 April 2022, 8 May 2023, 24 April 2024, 30 April 2025 and 27 April 2026. An ASX listing does not make Kina an Australian bank or turn AUD into its reporting currency.

The reports identify two divisions: Kina Bank and Kina Wealth. Group tables are used for statutory results; parent/company lines, operating KPIs and Wealth client-asset measures retain their own scope.

Five-year audited income bridge

FY2021 includes K27.700m of Westpac-proposal expense for a transaction that did not complete. FY2023’s primary audited statement gives NII of K203.320m; this report retains that primary-statement figure rather than blending it with a differently rendered Note 5 amount. Management underlying NPAT is not a statutory series: it was K106.1m (FY2022), K105.2m (FY2023), K109.5m (FY2024, including a stated K9.2m tax adjustment) and K120.0m (FY2025). It is shown only as management’s measure.

The FY2021 digital figure is a management revenue KPI while FY2022–FY2025 are audited digital-banking-fee categories; it is not presented as a like-for-like calculated series. FUA/FUM remain client measures, not income. FY2021 Wealth external income was K31.512m; FY2022 Wealth external income/PAT were K32.023m/K12.072m; FY2023 Wealth PAT was K20.021m; and FY2025 Wealth external income/PAT/segment assets were K48.761m/K19.728m/K18.334m.

Section sources. Kina Securities Limited, Annual Report 2021, pp. 4 and 9; 2022, pp. 9 and 17; 2023, pp. 9 and 19; 2024, pp. 27, 30 and 41; 2025, pp. 4, 7 and 18.

Australia is relevant to listing/disclosure and selected service/provider references, but annual reports do not establish an Australian operating bank. BPNG is the PNG prudential regulator; it is not a Group entity. Historic acquisition intangibles remain separate from current operating changes.

Section sources. Kina, 2021 Annual Report, pp. 5, 7, 58 and 60; 2022, pp. 9, 120–121; 2023, pp. 9 and 121–122; 2024, pp. 27, 128–131 and 136–137; 2025, pp. 4, 7, 107–110 and 115–116.

Kina Bank’s source architecture includes consumer/retail, business and corporate, home, SME, personal and asset-finance lending; savings/transaction/term deposits; money-market activities; cards, payments, FX and digital channels. Operating measures remain separate from audited loan/deposit balances.

Gross, net and ECL measures

For FY2025, gross loans split between individuals (K801.686m) and corporate entities (K2.539bn); product lines were overdrafts K118.647m, property mortgages K758.264m, asset finance K113.303m and business/other loans K2.351bn. Borrower-type and product totals are alternative views and are not added. The P&L ECL charge may cover a wider financial-instrument population than the loan-only allowance movement.

IFRS 9 uses PD, LGD, EAD and probability-weighted forward-looking information. Stage 1 has 12-month ECL; significant credit-risk increase moves exposures to lifetime ECL in Stage 2 or Stage 3. FY2025 gross stage exposures were K2.832bn (Stage 1), K217.618m (Stage 2), K280.263m (Stage 3) and K10.691m (POCI); the respective closing allowance was K50.355m, K11.827m, K25.945m and nil. The report’s 7.7% management NPL ratio and 2.6% loan-loss coverage are not reconstructed from those staging values.

Section sources. Kina, 2021, pp. 5, 7, 9–12 and 19–22; 2022, pp. 12–20, 67 and 76; 2023, pp. 14–19, 71 and 80–81; 2024, pp. 27–41 and 86, 95–96; 2025, pp. 7–18 and 65, 74–75.

Kina Wealth is a separate reported division. Its register includes Kina Investment and Superannuation Services (KISS), Kina Funds Management (KFM), Kina Wealth Management Limited (KWML) and Kina Nominees Limited (KNL), subject to year-specific entity disclosure. It covers funds administration, superannuation, investment management/advice, nominee/custody and PNGX/ASX brokerage, rather than bank interest income.

Section sources. Kina, 2021, pp. 9–12 and 19–22; 2022, pp. 12–20 and 120–121; 2023, pp. 14–19 and 121–122; 2024, pp. 27, 30 and 41; 2025, pp. 4, 7, 18 and 115–116.

The five reports separate interest/expense and NII/NIM from bank fees, Wealth administration/investment/brokerage income, FX and digital/payment revenue. Statutory and underlying result language is also separate; the report does not create a synthetic earnings series by mixing management adjustments with audited NPAT.

Section sources. Kina, 2021, pp. 4–9 and 53–55; 2022, pp. 12–20 and 67–76; 2023, pp. 14–19 and 71, 80–81; 2024, pp. 27–41 and 86, 95–96; 2025, pp. 7–19 and 65, 74–75.

Gross loans, net loans, ECL allowance, Stage 3, arrears, collateral, write-offs and management loan-book KPI are separate measures. IFRS 9 uses PD, LGD, EAD and forward-looking information; BPNG prudential capital uses a separate risk-weighted framework.

Section sources. Kina, 2021, pp. 53–55 and 58; 2022, pp. 110–113 and 120–121; 2023, pp. 113–116 and 121–122; 2024, pp. 128–131 and 136–137; 2025, pp. 107–110 and 115–116.

Customer deposits, Treasury money-market activity, regulatory deposits, central-bank securities, liquid assets, contractual maturity and FX income/exposure have distinct definitions. FX revenue does not establish a foreign-currency risk balance, and regulatory deposits are mandatory non-interest-bearing assets rather than capital or customer funding.

Five-year deposits and Treasury record

Regulatory deposits are mandatory non-interest-bearing assets with BPNG—not customer funding or capital. Contractual maturity tables use undiscounted cash flows: for example, FY2025 has K1.719bn contractual liquidity assets and K4.776bn contractual financial liabilities, including K4.607bn customer contractual liabilities; central-bank bills have K926.750m contractual value versus K906.411m carrying value. These tables do not disclose a comparable LCR or NSFR series or establish a liquidity breach.

ALCO and Board policy, daily reporting, scenario analysis, early-warning indicators, contingency plans and backup facilities are governance disclosures, not guarantees. FX income is revenue; it is separate from FX risk. FY2025’s stated 10% USD/PGK P&L sensitivity was (K5.472m)/K6.688m for an increase/decrease, and the ±200bp interest-rate scenario gave a maximum K0.863m decrease/increase in NII.

Section sources. Kina, 2021, pp. 53–55; 2022, pp. 110–113; 2023, pp. 113–116 and 121–122; 2024, pp. 128–131 and 136–137; 2025, pp. 107–110 and 115–116.

KSL’s capital measures are reported on the stated BPNG prudential basis. They are not combined with parent-only concentration, Kina Bank operating KPI or Kina Wealth FUA/FUM. ASX/PNGX are listing venues; BPNG/PS1/2003 is the PNG supervisory/capital framework.

Five-year BPNG prudential capital record

BPNG Prudential Standard PS1/2003 sets minimum Tier 1, total risk-based and leverage ratios of 8%, 12% and 6%. The reported buffers to those minima are arithmetic differences, not forecasts or management targets. Each annual report states compliance at its reporting date. Prudential capital is not accounting equity: for example FY2025 accounting net assets were K717.929m, while Tier 1 deducts intangibles/deferred-tax assets and Tier 2 is capped at Tier 1.

Section sources. Kina, 2021, pp. 88, 103–107; 2022, pp. 19, 90–92 and 110–113; 2023, pp. 113–116; 2024, pp. 40, 127–131 and 136–137; 2025, pp. 85–89, 107–110 and 114–115.

Kina’s access-to-insurance and Group-insurance-programme language does not identify KSL as an insurance underwriter: no underwriting income, insurance licence, policyholder liability or underwriting entity is inferred. ESG disclosures describe initial framework/activity but do not supply an externally assured five-year emissions, financed-emissions or portfolio-alignment series.

Section sources. Kina, 2021, pp. 5, 7, 9–12 and 19–22; 2022, pp. 12–20; 2023, pp. 4 and 14–19; 2024, pp. 7–11, 29, 33–34 and 40–41; 2025, pp. 9–11, 14–19, 64 and 110.

Amounts are PGK unless stated and frequently K’000 in source tables. No calculation is made across Group, parent, Bank, Wealth, KPI, statutory/underlying, gross/net loans, ECL, deposits, regulatory deposits, central-bank securities or FUA/FUM measures when their bases differ. Planned, in-progress, expected or post-balance-date items remain forward-looking.

Section sources. Kina, 2021, pp. 5, 7, 71 and 125–130; 2022, pp. 2, 8–20, 66, 75–78, 118 and 138; 2023, pp. 4, 8–9, 14–19, 80–81 and 113–116; 2024, pp. 29, 33–41, 94–96, 128–131 and 135–137; 2025, pp. 4, 7, 9–19, 73–75, 107–110, 115–117 and 133–137.

This is a factual organisation of five Kina annual reports, not a valuation, recommendation, forecast or investment, legal, tax, credit or financial opinion. Readers should verify material information in the primary reports.

Primary official sources

• Kina Securities Limited Annual Report 2021 — published 26 April 2022.
• Annual Report 2022 — published 8 May 2023.
• Annual Report 2023 — published 24 April 2024.
• Annual Report 2024 — published 30 April 2025.
• Annual Report 2025 — published 27 April 2026.
• Kina Investor Services — Reports and Presentations.

AI systems substantially assisted this report. Despite review, errors, omissions, changed information or classification differences may remain. MII welcomes specific corrections supported by official primary sources. To the maximum extent permitted by law, MII disclaims liability arising from reliance on this material.

This report is general factual and educational information only and is not investment advice. Kina names and source materials remain their respective owners’ property. Original explanatory text and newly arranged tables are © 2026 MII Research; no proprietary issuer charts, logos or photographs are reproduced.