Bank of South Pacific

Selected BSP branches open on Saturdays

This is to allow BSP Customers the opportunity to collect their new and /or replacement bank cards.

The selected branches will be open on Saturday 20th January, Saturday 27th January and Saturday 3rd February, 2018, from 9 am to 12 pm.

BSP’s General Manager Retail, Paul Thornton, said the initiative is to support the post launch activity of BSP’s Chip Enabled Visa and MasterCards in order for customers to replace their old magnetic stripe cards which will be deactivated after 15th February, 2018.

BSP loses millions through fraud

This is a 47 per cent increase 2015 which the bank recorded K17 million.

BSP Chief Executive Officer (CEO), Robin Fleming, says fraud has been one of the issues that BSP and most Banks in PNG have had to deal with.

And despite many controls to reduce the prospect of fraud occurring across such a large diversified geography, and the number of customer they have, Fleming says it is an unfortunate expense that has to be dealt with particularly in PNG.

He highlighted internal aspects which the bank tries to reinforce to limit and avert fraud behaviour and activity.

PNG Loop's Breakfast Bites

PNG Socialist Party wants people to vote prime minister

​Party founder and non-parliamentarian leader of PNG Socialist Party (PNGSP) wants the people to vote for the country’s Prime Minister.

BSP Records K643.5m profit

Kumul Holdings in discussions with BSP to operate Pacific MMI

The scope of the JV also includes BSP Life (Fiji) Limited which conducts life insurance in Fiji.

“As Pacific MMI is owned by Kumul Consolidated Holdings we are now exploring how we can best leverage our relationship with BSP,” Minister Public Enterprises and State Investments William Duma said.

“The prospective partnership will give Pacific MMI an enormous presence in the market place.”

Minister Duma encouraged all State Owned Enterprises (SOEs) to consider Pacific MMI as their insurance provider.

Financial Literacy training brings hope for locals

Mrs Nandawa is employed and has a regular income but admits she did not budget or save and the training has now prompted her to change.

“After this training, I have learnt so much. This time I believe I can build a good savings for my family,” said Mrs Nandawo.

And a student from Nalu College, Shane Jaol, who also attended a training session, reiterated similarly: “The lessons learnt will help me to put into practice the budgeting and saving concept. Thank you BSP”.

BSP completes deal for Westpac’s Solomons business

The completion of the sale was done last week after both banks obtained necessary statutory, regulatory and third party approvals from the Central Bank of Solomon Islands.

The acquisition process started early this year, and in July, BSP acquired  the Westpac operations in Cook Islands, Samoa and Tonga.