NBV expands rural banking services with opening of new building for Lakatoro branch
June 15, 2026 11:07 pm | Posted in Business News | Share now TwitterFacebook
By Kizzy Kalsakau.
The National Bank of Vanuatu (NBV) officially opened its new branch in Lakatoro, Malekula, yesterday, Monday 15 June, marking a major milestone in the bank’s efforts to improve financial inclusion and bring banking services closer to rural communities.
The opening ceremony was attended by provincial government representatives, chiefs, church leaders, community leaders, customers, and invited guests from across MALAMPA Province. The celebration also showcased Malekula’s rich cultural heritage, with 50 laplap sorsor prepared and served to invited guests and bank customers.
Speaking at the event, NBV Managing Director and Chief Executive Officer Santos Vatoko described the new branch as an important milestone for both the bank and the people of Malekula.
Mr. Vatoko said the opening reflects NBV’s commitment to ensuring that quality banking services are accessible to all ni-Vanuatu, regardless of where they live.
“As Vanuatu’s indigenous bank, our purpose is to serve the people of this nation and contribute meaningfully to the economic development of our communities,” he said.
He acknowledged the contribution that the people of Malekula have made to the national economy through agriculture, tourism, commerce, and entrepreneurship, saying the investment in Lakatoro was recognition of the island’s importance to Vanuatu’s development.
Mr. Vatoko said the new branch would provide customers with access to savings accounts, loans, business banking services, digital banking solutions, and financial advice, while creating opportunities for individuals, families, and businesses to achieve their financial goals.
He said NBV’s vision extends beyond banking transactions, with a focus on promoting financial literacy, supporting entrepreneurship, encouraging savings, and creating pathways for sustainable economic growth.
“The opening of this branch demonstrates our confidence in the future of Malekula and the future of Vanuatu,” he said.
Despite challenges such as natural disasters and economic disruptions in recent years, Mr Vatoko said NBV continues to see strong opportunities for growth and development throughout the country.
He also reaffirmed the bank’s commitment to strengthening its branch network, investing in digital banking platforms, and improving customer service nationwide.
Meanwhile, NBV Board Chairlady Sereana Moira Marum said the Lakatoro branch represents more than just a new building, describing it as a symbol of the bank’s commitment to serving communities throughout Vanuatu.
Mrs. Marum said NBV has a responsibility not only to provide financial services but also to support economic growth, financial inclusion, and community development.
“The Board is proud to support investments that strengthen the Bank’s presence in rural areas and improve access to banking services for all ni-Vanuatu,” she said.
She added that improved access to banking services allows communities to create opportunities, build businesses, and contribute more effectively to national development.
Mrs. Marum acknowledged the efforts of the bank’s management team and staff in bringing the project to completion and thanked customers, community leaders, and stakeholders for their continued trust and support.
Lakatoro Branch Manager Mark Christian described the relocation as a major milestone for NBV in Malekula. He said since the bank first established its presence in Lakatoro in 2022, staff had been operating from a modified shipping container while providing banking services to customers.
Mr. Christian said customers had frequently raised concerns about the limitations of conducting financial transactions in the temporary facility, making the move into a permanent branch an important improvement for both staff and clients. The Malekula branch now has more than 15 staff serving over 7,000 customers throughout the island.
Member of Parliament (MP) for Malekula Constituency Paul Paolo also expressed gratitude to the Government and NBV for recognising the needs of the people of Malekula by providing banking services closer to the community.
MP Paolo noted that more than 7,000 customers rely on NBV for their daily banking activities and highlighted the bank’s importance as the only banking institution currently operating on the island, from Lamap to Lakatoro, including the installation and operation of ATM services.
He encouraged residents to make greater use of the banking services available to them, particularly by developing a culture of saving.
“I want to see more of our people using the opportunity to save their money in the bank rather than burying their money in the ground,” Mr. Paolo said.
Both NBV leaders emphasised that the opening of the Lakatoro branch reinforces the bank’s commitment to building a stronger, more accessible, and inclusive banking system for all ni-Vanuatu while supporting the economic aspirations of families, farmers, entrepreneurs, and businesses across Malekula and the wider MALAMPA Province.
More Photos Page 8
