The Governor of Central Bank Denton Rarawa says the Pan Oceanic Bank (POB) has provided competition with other commercial banks in the country, and has allowed customers to find which bank suits their needs.
Mr Rarawa made the comment in response to questions from journalists in a media conference last week.
He says the competition provides the opportunity for bank customers to shop around to find which bank is suitable for them.
“A new entrant coming in has provided competition and am sure the other banks would have probably sit down and take notice, like oh some of my clients are going to POB and in a way it’s a good thing providing competition for customers. Now customers can choose which bank is offering the best service, which bank can be able to meet my needs, so that competition provides the opportunity for bank customers to shop around and see which bank can provide them them the best.”