The difficulties facing the bank are part of a wider downward trend of correspondent banking relationships, according to research from compliance solutions provider Accuity.
Between 2009 and 2016, correspondent banking relationships reduced globally by 25%, as regulators imposed requirements on transparency and higher liquidity thresholds.
"Engaging a new partner has been challenging as most major banks have curtailed their correspondent banking partner arrangements in developing countries in the past 18 months," Kina CEO Syd Yates said.
"From Kina and PNG's perspective, the situation is a disappointing external development as Bank of PNG and Kina have gone to great lengths to demonstrate that our country's financial institutions are not high risk."
Establishing a diverse and permanent correspondent banking relationship is the bank's top operational priority for 2017.
Kina's domestic business has enjoyed 10% loan growth for the first four months of 2017, and loan quality remaining strong with loan impairment expense low at 0.15% and total arrears at 4.3%.
In the same period Kina issued 112 new housing loans at an average size of K200,000 per loan.
Kina directors Rabbie Namaliu and Wayne Golding - both having also served as chairman - retired at yesterday's annual general meeting.
Non-executive director Isikeli Tuareka has replaced Namaliu as chairman.