NSLS reports strong profit growth at annual meeting

The rapid growth of Nambawan Savings & Loan Society continues to reflect its slogan, “Savim moni, stretim sindaun.”

Strong results from its audited 2025 financial year accounts will see nearly 67,000 NSLS members receive a five percent interest credit on their savings accounts for the second consecutive year.

Financial members gathered in Port Moresby on Thursday for the Nambawan Savings & Loan Society Annual General Meeting, where the 2025 financial reports and meeting minutes were formally accepted.

Chairman John Cholai highlighted the institution’s rapid expansion, describing NSLS as the “fastest growing institution in the country,” citing findings from an independent research firm.

Figures from the 2025 financial year further reinforced that growth.

According to NSLS Chief Executive Officer John Solok, the 2025 financial results were “nothing short of remarkable.”

The society recorded a profit after tax of K8.96 million, an increase from K7.53 million in the 2024 financial year.

Mr Solok said the result represented a steady growth of 19 percent, while maintaining a strong five-year average growth rate of 55.3 percent.

Membership also increased by more than 20 percent in 2025, reaching 66,336 members by the end of last year.