15 August 2016
National Bank of Samoa celebrates 20 Years
The National Bank of Samoa has achieved a milestone in reaching 20 years of service.
Prime Minister Tuilaepa Sailele Malielegaoi attended the official corporate function which was held on August 12th at the newly-opened Sheraton Aggie Grey’s Hotel in Apia.
The National Bank of Samoa is a locally owned and operated commercial trading bank.
From humble beginnings as a family owned and managed business in the mid nineties, the National Bank has grown to be a major player in the Samoan banking and commercial sectors.
In his keynote address, Tuilaepa thanked the board, management and staff of the Bank for remaining firm in service to the country.
He said the National Bank of Samoa has grown in a positive direction and plays an important role in helping to develop the economy and in helping the wider Samoan community.
“I am fortunate enough to have witnessed the evolution of NBS over the last 20 years,” said Tuilaepa, who also referenced the privatisation of the Post Office Savings Bank which was sold to the Meredith family following a public tendering process.
“The Meredith family has been the backbone of the NBS since the privatisation from Government and they have been responsive to the needs of customers. I applaud the Meredith family and original shareholders for seeking out new investors for the continued growth of the business.
“NBS is a Samoan owned and operated company and is clearly punching above its weight in true Samoan fashion.”
Tuilaepa also acknowledged the appointment of Tuuu Amaramo Sialaoa as the first Samoan to the rank of Chief Executive Officer.
“To have someone with the ability like Tuuu to run a key financial institution shows that Samoa is coming of age in terms of producing home grown talent and offering a career path to lead our future leaders in Samoa.
“And I understand another reason why NBS has done so well is because of its investment in new technology more importantly the induction of technology which improves service delivery to customers.”
Tuilaepa said to celebrate 20 years of a local bank in Samoa certainly reflects the maturing of the local bank system and is testament to the evolution of the economy as a whole, especially with the recent graduation from developing country status to middle income level state.
“I like to acknowledge the NBS for its continuing investment in keeping at the forefront of banking in Samoa and in the region.
“Finally I would like congratulate the shareholders, board and staff of the NBS on their remarkable success and to wish them all the best for the next 20 years and beyond.”
The Chairperson of the Bank’s board of directors, Mataia Lynn Netzler, in her remarks said it was a great honour to share this special milestone.
“The bank started with humble beginning, but with the strong support from families and friends, and the service provided by committed staff, the bank took shape.”
She said the achievements however didn’t come without challenges as she acknowledged the support by customers and staff of NBS.