BSP

For the past 12 years, the 800 students at Jame Primary School have grappled with inadequate facilities, resorting to pit toilets, which posed significant health risks to both students and the surrounding communities.

Recognizing the urgency of the situation, BSP's Wewak Branch Manager, Philip Solala, spearheaded a four-week project aimed at revamping the school's ablution block and installing a new water tank for drinking and general use. 

In yesterday’s match of the premier division, Bank South Pacific after recovering from its loss in week one of the semifinal held off Nambawan Super Limited 23 points to 13 to set up the grand final stage against Moore Printing.

The BSP team came strong, firing on court both in attack and defense holding onto their lead through to the end. They are expected to continue this superb form heading into their grand final. 

The cheque was ceremoniously presented to the festival's organizing committee today, Friday, 1st March 2024, at Ravalian Haus in Port Moresby by BSP Group Chief Executive Officer Mark Robinson.

Rooted in the historical trade voyages between the Motuan people of Central Province and those of Gulf Province, the Hiri Moale Festival stands as a testament to Papua New Guinea's rich cultural tapestry. Featuring traditional dances, exhilarating canoe races, and captivating handicraft displays, the festival embodies the essence of Motuan heritage.

BSP Group CEO, Mark Robinson said in a recent media release that depreciation of the PGK/USD midrate will benefit exporters as they receive more PGK for their goods, whilst importers will see higher prices as their cost-per-kina increases when purchasing goods overseas to bring into PNG.

“A short-run risk of the PGK/USD depreciation is the potential impact on inflation levels for consumers, while the economy may benefit when the exchange rate system operates effectively without the need for interventions” said Mr. Robinson.

Chief Executive Officer Mark Robinson, in a statement, said these allegations and statements made regarding BSP and its employees are untrue, and defamatory.

He said BSP has and will continue to make its own enquiries, and has referred matters to relevant law enforcement agencies where appropriate.

“BSP is ensuring the Bank of Papua New Guinea is kept fully informed regarding this matter.”

Mr Robinson stressed that BSP will not tolerate abuse or inference of wrongdoing when officers are acting in the course of their duties.

The highly anticipated festival, scheduled to take place from the 5th to 7th of August, is set to highlight the cultural significance of crocodiles to the Sepik community.

BSP Financial Group Limited (BSP) has reaffirmed its commitment to preserving and promoting cultural heritage by pledging K30, 000 to the event.

The three-day event will be a vibrant celebration of the Sepik River's crocodiles and their importance to the communities living along its banks.

His questions stem from the recent banking glitch experienced by BSP Group, which affected banking services for members nationwide.

Lelang stated that complaints about the quality of services offered by the country’s commercial banks were mentioned over the last year, especially the many fees charged from the services provided, banks sold or partially sold in recent times, and the extra money found in bank accounts and money lost; the non-improvement of mobile banking, internet banking, and long ques.

During the training sessions, agents are being informed about the changes that will occur with the new system, which is scheduled to be implemented next month.

Under the new system, BSP Agents will no longer utilize EFTPOS to facilitate customer transactions. Instead, they will utilize tablets to carry out customer transactions.

Customers will no longer be able to use BSP cards to transact at an Agent; they will use a mobile phone instead.

Consequently, BSP’s shareholders K1.74 full year dividend was only marginally higher (0.6%) than the prior year’s K1.73.

According to BSP’s Acting Group CEO Ronesh Dayal, the result was impacted by the K190 million Additional Company Tax (ACT) and a one-off tax credit of K135 million. The tax credit comes after PNG Bank’s closing deferred tax assets and liabilities for 2022 were re-measured at 45%, in accordance with international accounting standards, given the PNG commercial bank tax rate increase from 30% to 45% in 2023.

This financial backing seals BSP’s commitment as the naming rights sponsors of the “2023 Liklik Softball” competition for junior softballers in Port Moresby.       

BSP Sponsorship Manager, Amelia Minnopu when presenting the cheque to the committee said: “The fundamental aspects of the banks support is by always placing our people and communities at the core of our business, not only through sports but any other community engagement which develop participation and growth.”