Bank South Pacific (BSP)

Speaking during the opening of the branch in Namatanai recently, member for Namatanai, Walter Schnaubelt said the people of Namatanai could now expect to experience big changes in economic empowerment as more developments begin to unfold through this.

The opening of the banking facility coincides with the establishment of the Walter’s Farming Association Buying Point, which has enabled farmers to have cash to spend and meet their daily needs.

“BSP, we are happy for you making a decision to open the branch in Namantanai,” said Schnaubelt.

Branch Manager Martin Gilo said the bank now focuses on financial literacy or banking education and with it, helping customers understand banking services better and its benefits.

Gilo said that financial literacy is the way forward in achieving strategic goals. Since its inception in 2015 more than 8,000 people have benefited from the banking education program.

This follows the passing of a resolution considered at the company’s special meeting of shareholders on 26^th March, 2021.

The name change will take effect on 17^th May 2021.

The company also announced it will now progress with its proposed secondary listing of its ordinary shares on the Australian Securities Exchange (ASX).

Bank South Pacific’s digital general manager, Nuni Kulu, said this is an impressive start for BSP digital payments journey with an adoption rate over a four-year period for the PNG market, which has typically taken developed countries such as Australia, Singapore and New Zealand over eight years to achieve.

BSP Group general manager – retail, Daniel Faunt, said as a more convenient alternative to attending to BSP’s branches to pay children’s school fees, BSP continues to focus on providing digital payment solutions for its customers, which includes the provision of EFTPoS terminals to schools as well as through its mobile phone USSD service. 

Faunt said this in response to an article in one of the dailies, dated Friday 5th February, 2021, quoting a parent calling on banks to provide EFTPoS machines to schools for ease of payments.

In the presence of BSP Group CEO Robin Fleming, retail bank management and colleagues, the retirees were treated to a hero’s farewell ceremony on Tuesday 29th December, 2020, in Port Moresby. 

The group comprised of janitors, customer service officers and managers with years of service with the bank ranging between 30 and 40 years.

Amongst them was Madang branch customer service officer, Steven Wapikwari, who reflected on his term of service as “loyalty to one’s employer”.

John, a new father, came forward to seek help in late 2019. He grew up watching violence being perpetrated and the effects of which has impacted his behaviour towards his young family. He said the constant reminders on Bel isi PNG services and awareness on family sexual violence made him realise that he needed help.

“The feeling of responsibility as a man and questioning myself on whether I was doing enough to break the cycle bothered me. I had to accept that my behaviour was not something I wanted my son to learn,” John shared.

Present at the event was OOH program’s first patient to undergo operation heart surgery on Sunday 16^th February, 2020, was Faustina Jerome (18) accompanied by her father - Linus Jerome and elder sister- Fatima Jerome.

Faustina is from a remote area of Dasima in the Esa’ala district of Milne Bay Province. She completed her grade 8 in 2017 but was taken out of school due to her heart condition.

In 2018, BSP installed solar panels and lights for Sabusa Primary School classrooms and it went again last year with another added project for the school.

“Back then while installing the solars, we realised that classrooms had bare earth floors so in 2019, we went back to have five of the classroom floors cemented and we also had the rotten timbers at the school’s staff room stairs replaced,” said BSP’s Head of Training – HR, Ray Baloiloi.

Baloiloi and his team handed over the newly cemented classrooms just in time for the start of the 2020 academic year.

Deputy Chief Operating Officer, Frank van der Poll, said SWIFT GPI is the new standard in global payments and is based on existing messaging standards and bank payment processing systems, making it quick and cost-effective to adapt to the new norm.

“For BSP, adapting to this new standard of global payments allows the bank to send and receive funds quickly and securely to anyone, anywhere in the world, with full transparency over where a payment is at any given moment,” said van der Poll.