Bank of South Pacific (BSP)

K80,000 boost for young swimmers

This year, for the 17th consecutive year, BSP reaffirmed this commitment by presenting K80,000 to the PNG Swimming Inc as its annual sponsorship towards the 2020 BSP National Aquatic Excellence Program and the Junior development program “Learn to swim”.

At the presentation, Kili Tambua, BSP Deputy General Manager Sales & Customer Service, said: “Through this partnership, we’ve witnessed the enormous growth in the development of our young and upcoming swimmers in realising their dream of representing PNG.”

BSP records positive results

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.

Second LNG likely to improve economy

Bank of South Pacific CEO, Robin Fleming, says the country’s economy is expected to face another 12 to 18 month slump. However, there is recognition by the business community that an improvement will be witnessed once the second LNG Train project is confirmed.

He said this was the general consensus following a shareholder board meeting in Lae last month.

Fleming said there remains a higher level of confidence in the project moving ahead by the end of 2018, following announcements during the recent inaugural Petroleum and Energy Summit in Port Moresby,

Morobe Show committee get K23,500 from BSP

The Bank has continued to support the show, as it promoted the agriculture, livestock, horticulture, floriculture and the SME sector, which are vital industries that contribute to growth in province. 

BSP sees the show as an opportunity for participants in these industries to showcase and promote their products and service. It is also a key community contribution to the Morobe Province, as BSP promotes our local BSP Agents and our support in the Corporate and Agricultural sector in Morobe Province.

Bialla town gets first bus stop shelter

The small town received a newly constructed bus stop that was completed and handed over by the BSP branch staff as part of their community project for 2016.

The staff assisted with the project by digging gutters around the bus stop shelter, painting seats, posts, frames, installing rubbish bin stands and did a general clean up, while the construction of frames was done with the support of a local contractor.