BSP has recorded a positive Quarter 1 result with an unaudited net profit after tax of K170.2 million.
The result is K27 million up from the same period in 2015.
Capital adequacy for the bank has also improved to 25.1 per cent at the end of March this year.
In a statement, the bank says its balance sheet reflected a stable market share in PNG and an expectation of continued subdued businesses conditions in the short term.
BSP on Friday announced a distribution to shareholders of K486 million during its 2017 Annual General Meeting.
This follows an impressive 2016 result of K643.5 million net profit after tax of which the board determined a final dividend of 79 toea for the year.
Added with the 25 toea interim dividend paid in October 2016, the total dividend payment is K1.04 per share.