Laos could be the next possible market for Bank South Pacific (BSP).
BSP CEO, Robin Fleming, says Laos is being considered as part of its expansion adjacent to its current position in Cambodia.
Fleming recently spoke to Loop PNG on BSP’s service expansion plans for 2018.
He said for BSP Finance, they will focus on its expansion in Asia.
“The BSP Finance now that we’ve opened in Fiji, Solomon, NG and Cambodia, the other markets are possibly not quite as large to require a wholly independent BSP finance joint venture.
“We will continue to explore in adjacent countries to Cambodia, with our existing Joint Venture Partner a further BSP Finance, possibly in Laos.”
Fleming said its current BSP Finance joint venture is considering its next market.
On BSP Life, he said the main focus will be to get a developed offering on PNG in particular.
Meanwhile, Fleming said its Life Insurance Product, which will be rolled out, will not have an immediate impact on the performance of the company as it is generally a long term product.