After operating for 123 years in the country, the Westpac Bank has said that it will not be packing up and leaving as previously considered but continue to stay for as long as it can and providing much needed banking services to the people of Papua New Guinea (PNG). The Westpac Group announced this week that the bank will retain its Pacific business (comprised of Westpac Fiji and Westpac PNG), continuing to grow alongside its customers and the economies in both countries. Westpac believes it has a great role to play in this very important region with its ability to be a strong, stable and trusted financial partner in the Pacific. Westpac Pacific Managing Director, Damien MacRae, said “Westpac has proudly supported Fiji’s and PNGs economic growth and development for more than a century and we are well placed to continue this support.” The decision means Westpac will continue to support the local economies and local businesses, improve digital and service capabilities for customers and deliver important community programs in financial literacy and education. “Westpac has been a part of PNG’s history for more than a century and will proudly continue supporting customers and businesses to grow and succeed into the future,” said Westpac PNG Chief Executive, Brett Hooker. “Westpac Group’s decision to retain the business is a vote of confidence in the future of PNG.” Meanwhile, Westpac Bank’s humble beginnings in PNG starting on May 10,th 1910 when two young men established PNG’s first commercial bank, setting up shop as the Bank of New South Wales on Douglas Street, Port Moresby. From that time onwards, the bank grew and expended to become the now Westpac Bank.