Bank South Pacific

BSP announces profits for 2019

The result follows another positive year despite economic headwinds and uncertainties, with the company once again surpassing K1 billion (K1.25b) revenue mark.

CEO, Robin Fleming, announced the results in Port Moresby on March 2nd.

Despite total income remaining flat, the BSP Group recorded a consolidated operating profit after tax of K890.4 million for the 2019 financial year; a 5.5 percent increase from 2018.

Arts theatre program boosted with K8,000

This festival is an avenue for youths to express their hearts and minds and further propagate awareness on today’s social issues in the communities on violence, gender equality, religion, drugs and bullying.

“BSP as a community orientated bank is delighted to lend a hand as co-sponsors of the event to help support an event that adds so much value to the communities through awareness and community empowerment,” says BSP Corporate Sponsorship Manager, Amelia Minnopu.

EFTPoS terminals accept payments via devices

NFC technology gives customers the option to carry out contactless payments through the use of wearables, such as a watch, or payments via the wave of your smartphone over point of sale terminal (EFTPoS).

There is a wireless data transfer between the device and point of sale terminal (EFTPoS), providing an elevated customer payment solution. 

The enhancement to BSP’s EFTPoS payment capabilities was demonstrated recently by BSP’s Retail General Manager, Paul Thornton, who made a purchase via a BSP EFTPoS device through the use of his smart watch.

BSP scoops best private sector employer award

The award recognises top notch best practices, systems and the management of the increasing and demanding area of human resource management.

This year, BSP raised the bar in being recognised for implementing the Human Resource Information Software “iChris System” which provides and facilitates consistency of structures for its employees across the bank’s operations in PNG, Fiji, Solomon Islands, Samoa, Tonga, Cook Islands and Vanuatu.

Female executive awarded best HR practitioner

Rabura is the bank's General Manager, Human Resources. She was one of the first female employees within BSP to reach executive management level and later appointed to General Manager, Human Resources.

Rabura thanked PNGHRI for recognising her among many other best HR Practitioners in PNG.

“It is a tremendous honour as I stand before you to receive this prestigious award,” she said.

BSP eyes Asia

He made the bold statement following BSP’s recent Annual General Meeting in Port Moresby.

Sir Kostas said the opening of an Asset Finance Company in Cambodia has proven to be an excellent decision and they are currently looking at opening in Laos, and have plans for Myanmar as well.

Sir Kostas said the decision by the Board to move into the Mekong Area of Asia followed five years of research into markets similar to PNG that BSP has extensive experience in operating in.

The entry into Cambodia just over 12 months ago has proven to be a masterstroke.

K20,000 for National Game Fishing

In addition, BSP will sponsor a K100,000 cash prize for the first angler that lands a marlin weighing 250kg or more.

Tournament Director Mathew Geoghegan commended BSP for supporting the event.

At the presentation, BSP Relationship Manager, Corporate Banking, Karai Morea, said BSP was happy and excited to be supporting an event that encouraged growth in tourism, sports and social events in the country.

The National Game Fishing Titles has become popular in the South Pacific, attracting anglers from around the country and overseas.


BSP expands banking network

The opening of the new BSP Freswota Branch on March 14th reflects the bank's growth strategy which is focused on strengthening its on ground presence across the countries it operates in the Pacific, while also offering a wider range of banking services to its customers.

BSP anticipates economic rebound

The proceeds from sovereign bond issue and concessional drawdowns have increased the international reserves to around US$2.5bn at the end of 2018. 

Rohan George, Group General Manager Treasury, stated: “Much needed relief was given to the market through the conversion of sovereign bond and concessional loan drawdowns. The number of outstanding foreign currency orders significantly reduced by 50 percent in the second half of 2018, and have declined by 70 percent over the past 12 months.”

St John Ambulance gets new vehicle

The bank has donated K225,000 to SJA PNG for the purchase of this Emergency Response Vehicle. The K225,000 also covers maintenance and insurance support over a period of five years effective from 2018 to 2022.

BSP Port Moresby branch manager Diana Guria reaffirmed this when officially announcing the bank's commitment to the SJA PNG Service in Port Moresby.

“St John is most often the first point of contact in medical emergencies. Our support is a demonstration of the confidence that we have in continuing the worthy services rendered to the community,” said Guria.