MiBank

What MiBank does

MiBank (legal name: Nationwide Microbank MiBank Limited) is a Papua New Guinea microfinance institution headquartered in Port Moresby, founded in 2004 and operating 16 branches across 13 provinces alongside an extensive agent network. The company delivers savings, loans, and insurance products targeted at micro, small, and rural customers underserved by PNG's commercial banking sector. Its product portfolio spans SME and microenterprise loans (K200–K15,000+), sector-specific loans (farmers, fisheries, school fees, vehicles), payroll loans for public servants on Concept Payroll, savings accounts (MiPikinini, term deposits), debit cards (MiCard, Hibiscus Card for women), and the MiLife microinsurance product distributed in partnership with BIMA. Customer segments include SME/micro-enterprise owners, government employees, rural and unbanked populations, and women and grassroots groups.

MiBank's technology stack centers on MiCash, the first mobile wallet deployed by a licensed financial institution in the South Pacific, accessible via USSD and mobile app, and increasingly integrated with national and telco digital infrastructure. Recent integrations include the SevisPass/SevisWallet national digital ID (built by Tech5 and piloted with PNG's Department of ICT in March 2026) for remote KYC and digital account opening, and the Digicel Cellmoni mobile wallet for instant two-way fund transfers (December 2025). MiCard operates on the BSP ATM and EFTPOS network, extending card acceptance infrastructure. MiBank is privately held, with Kina Bank holding a disclosed 15% minority stake acquired in August 2019.

Revenue is generated primarily through interest income on its microenterprise and SME loan book, supplemented by transaction fees on MiCash and inter-wallet transfers, savings interest spreads, and microinsurance distribution economics. The 2020 acquisition of PNG Microfinance Ltd and EsiLoans from Kina Bank materially expanded the loan portfolio. Go-to-market is sales-led through the physical branch and agent network, with digital channels (mobile app, USSD) increasingly serving self-service and acquisition for unbanked segments. No direct revenue disclosure is available; scale signals (K14 million in client funds at the Morobe branch alone, 101–250 employees, national branch footprint) suggest a mid-sized microfinance franchise operating within a small but high-growth economy.

Name

MiBank

Legal name

Nationwide Microbank (MiBank) Limited

Website

https://mibank.com.pg

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

MiBank (Nationwide Microbank) is a Papua New Guinea microfinance institution operating 16 branches and an agent network across 13 provinces, delivering savings, loans, and microinsurance products to micro, small, rural, and unbanked customers through its MiCash mobile wallet and SevisPass digital ID integrations.

Ownership category

akta.pro rank

Product category

Microfinance Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Microloans & Working Capital Loans (FSAKAGAA)

akta.pro secondary industries

Underbanked/Financial Inclusion Neobanks (FSABAFAJ), Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM)

Keywords

• Microfinance banking
• Savings accounts
• Mobile wallet
• Microinsurance products
• SME lending

Headquarters

HQ city

Port Moresby

HQ country

Papua New Guinea

HQ region

Oceania

Offices17 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Microenterprise and SME Loans: MiBank provides micro enterprise loans (K200–K15,000) and business expansion loans (K15,000 upwards) across 13 provinces in PNG, including sectors such as street vending, trade stores, bakeries, fishing, transport, and agribusiness. Revenue generated through interest income on lending products.
2. Retail Banking Products: Savings accounts (MiPikinini, MiCash), debit cards (MiCard, Hibiscus Card), payroll loans for government employees, school fee loans, vehicle loans, fisheries loans, and farmers loans. Revenue derived from interest spreads, transaction fees, and card usage.
3. Mobile Wallet (MiCash): Mobile wallet enabling digital transactions, fund transfers, and mobile banking. Generates revenue through transaction fees and fund transfer charges. First mobile wallet deployed by a licensed financial institution in the South Pacific.
4. Digital Onboarding Services: Revenue generated through digital account opening facilitated by SevisWallet/SevisPass integration, enabling remote KYC verification for new customers without physical branch visits.
5. Microinsurance (MiLife): Partnership with BIMA to offer term life insurance under the MiLife brand, providing microinsurance products to underserved populations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

MiBank is a Papua New Guinea microfinance institution that provides savings accounts, a range of micro and SME loans, debit cards, a mobile wallet (MiCash), and microinsurance (MiLife) products. It distributes these through 16 physical branches and a network of agents across 13 provinces, supplemented by USSD, mobile app, and national digital ID-enabled remote onboarding.

Product overview

MiBank (Nationwide Microbank) is a microfinance institution in Papua New Guinea operating a network of 16 branches and agents. The company offers a portfolio of financial products including savings (MiPikinini Savings Account, Term Deposits), loans (MiLoan, Business Loans, Farmers Loan, Fisheries Loan, School Fee Loan, Vehicle Loan, Payroll Loan, Speed Loan, Sola Pawa Loans), cards (MiCard debit card and Hibiscus Card for women), mobile wallet (MiCash), and microinsurance (MiLife). MiBank has pioneered digital innovation in PNG, being the first to deploy a mobile wallet in the South Pacific and the first to introduce microinsurance. The bank has recently integrated with SevisPass/SevisWallet digital ID system for remote KYC verification and partnered with Digicel PNG for instant fund transfers via Cellmoni. A key focus area is women's banking and financial inclusion for underserved populations through products like MiAkaont.

Differentiator

Problem solved

Functional benefit

Products and services

• MiCash Mobile Wallet Mobile wallet enabling customers to perform banking transactions via USSD and mobile app. MiBank was the first licensed financial institution to deploy a Mobile Wallet in the South Pacific.
• MiCard Debit Card Debit card that allows payments to be automatically deducted from the bank account. Works at BSP ATM(s), BSP EFTPOS, and BSP MERCHANTS.
• MiLoan Loan product offered by MiBank for micro enterprise and business expansion needs.
• MiPikinini Savings Account Savings account product designed for children and youth savings.
• Business Loans Micro Enterprise Loans from K200-K15,000 for small businesses, and Business Loans from K15,000+ for expansion of existing businesses including street vending, trade stores, bakeries, fishing, transport, and agribusinesses.
• Farmers Loan Loan product for farmers to support agricultural activities and cash crop production such as cocoa, copra, coffee, and oil palm.
• Fisheries Loan Loan product for fishing activities, provided in partnership with NFA (National Fisheries Authority).
• School Fee Loan Loan product designed to help families cover school fees.
• Sola Pawa Loans Loan product offered by MiBank for various financial needs.
• Vehicle Loan Loan product for purchasing vehicles.
• Term Deposits Fixed deposit savings product for customers to earn interest on savings.
• Payroll Loan Loan designed for government employees on Concept Payroll. Minimum loan K200 to maximum K5,000 with terms from 5 to 26 fortnights.
• Speed Loan Mobile banking loan product offering quick access to credit via mobile device.
• MiLife Microinsurance Microinsurance product launched under the BIMA MiLife banner. MiBank was the first institution to introduce a Microinsurance product in Papua New Guinea.
• Hibiscus Card Debit card specifically designed for women, launched in October 2018. Part of MiBank's focus on women's banking and financial inclusion.
• MiAkaont Tailored financial product designed for underserved populations and rural areas as part of MiBank's mission to improve financial inclusion through digital ID integration.

Quantifiable outcome

• K14 million in client funds held in Morobe branch (July 2023)

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• PNG Department of Information and Communications Technology (DICT)coreStrategic or Co-development Partner · 3 March 2026MiBank partnered with PNG's DICT to launch a pilot enabling digital bank account opening through the SevisWallet app. DICT is expanding digital ID offerings and introduced a Government Adoption Framework for AI. A $120 million digital infrastructure package was approved in February.
• Digicel PNGcoreChannel Partner/ Reseller/ Distributor · 8 December 2025MiBank and Digicel PNG launched a partnership enabling instant two-way fund transfers between MiBank accounts and Digicel Cellmoni wallets via USSD and mobile app. This was the first such collaboration in PNG, expanding digital financial services and financial inclusion. The service allows customers to transfer funds in real-time.
• Tech5coreTechnology or Integration · 2 December 2025Tech5 built PNG's decentralized DPI ecosystem including SevisPass (digital ID), SevisWallet (digital wallet), SevisDEx (digital exchange), and SevisPay. MiBank integrates with SevisPass and SevisWallet to enable digital bank account opening through remote KYC verification.
• Sola PayGominorChannel Partner/ Reseller/ Distributor · 20 August 2024MiBank partnered with Sola PayGo to expand financial services access.
• PNG District Administrations (various Credit Guarantee Schemes)minorStrategic or Co-development Partner · 21 May 2024MiBank entered into various Credit Guarantee Schemes with local district administrations to promote and develop micro enterprises and provide access to finance in the districts, with particular emphasis on equal access for women.
• NasfundminorChannel Partner/ Reseller/ Distributor · 17 February 2023Nasfund partnered with MiBank for Eda Supa, a financial services product offering.
• Digicel PNGminorChannel Partner/ Reseller/ Distributor · 1 August 2021MiBank and Digicel partnered to promote rural banking, leveraging Digicel's telecommunications network to extend banking services to rural areas.
• PPL (Pacific Payment Link / PNG Provincial Governments)minorChannel Partner/ Reseller/ DistributorPPL partners with MiBank for amnesty bills payment services.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Tala: Tala extends small-ticket credit to underbanked consumers in emerging markets using mobile data for underwriting. It is comparable to MiBank in serving the same low-income, thin-file customer segment with small-ticket lending products, although Tala is a digital-only lender without a branch or deposit franchise.
• Branch International: Branch International provides small-ticket digital loans and savings to underbanked consumers in emerging markets via mobile apps. It is comparable to MiBank's MiCash/MiLoan stack in delivering microfinance and digital banking to unbanked populations, though MiBank is branch-anchored while Branch is mobile-first.

Broad incumbents

• Safaricom (M-Pesa): Safaricom's M-Pesa pioneered mobile money and microfinance rails across East Africa and is a partner/competitor template for licensed institutions like MiBank. It is comparable as the dominant digital wallet and agent banking ecosystem that MiBank's MiCash and CellMoni integration mirror in the PNG context.
• Kina Bank: Kina Bank is one of Papua New Guinea's largest licensed commercial banks and holds a 15% minority stake in MiBank since 2019. It is comparable as a PNG-licensed full-service bank operating in the same regulatory and competitive landscape, although its scale and product breadth are materially larger than MiBank's.
• Bank South Pacific (BSP): BSP is Papua New Guinea's dominant commercial bank, controlling the ATM and EFTPOS network that MiBank's MiCard relies on. It is comparable as the primary incumbent against which MiBank competes for retail and SME deposits, loans, and digital wallet adoption in PNG.
• Equity Bank: Equity Bank is a leading East African microfinance-anchored commercial bank with a strong agent and mobile banking network serving unbanked populations. It is comparable to MiBank as a financial-inclusion-focused, branch-plus-digital bank operating in a low-penetration emerging market.

Emerging players

• JUMO: JUMO provides digital financial services including microcredit and savings to underserved customers in emerging markets across Africa and Asia. It is comparable to MiBank in targeting the unbanked with small-ticket digital credit products, though JUMO operates as a technology platform rather than a licensed deposit-taker.

Others

• Microfinance Opportunities (NGO / Pacific microfinance peer set): Microfinance Opportunities is a global NGO supporting microfinance and financial inclusion programs, including in the Pacific. It is adjacent to MiBank as a thematically connected player in the microfinance and financial-inclusion ecosystem where MiBank operates.
• Digicel PNG (CellMoni): Digicel PNG operates the CellMoni mobile money wallet and is both a MiBank partner (instant two-way transfers via USSD) and a digital payments competitor reaching the same unbanked and rural base in PNG. Comparable as a mobile-wallet ecosystem vying for the same financial-inclusion segment.
• UNDP Pacific Financial Inclusion Programme (PFIP): PFIP is a multi-country Pacific financial inclusion initiative that supports digital financial services and microfinance providers across the region. It is comparable as an ecosystem participant influencing the regulatory, donor, and partnership environment in which MiBank operates.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MiBank-PNG-206671296097574
• LinkedInlinkedin.com/company/nationwide-microbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MiBank