BSP Finance Group Ltd (BSP)

According to BSP’s Quarter 3 2023 Pacific Economic & Market Insights report, FX inflows have risen 19 per cent to K18.7 billion due to a 79 per cent year-on-year increase in BPNG FX intervention.

BPNG has supplied 20 per cent, that’s K3.8 billion, of PNG’s FX inflows this year.

BSP Group General Manager Treasury, Rohan George noted that despite increased BPNG intervention, the FX market continues to miss Porgera’s FX contribution.

The alleged statement was circulated on WhatsApp forums and social media streams and contained serious allegations against Mr Nomane and named employees of the Bank of South Pacific Financial Group Limited (“BSPFGL”) of being responsible for orchestrating the “BSP Glitch” and accessing money from Government accounts, amongst others.

The writer of the article is not named.

“I wish to state on record that the allegations, statements, and comments in the article against me are not true.

BSP Group CEO Mark Robinson emphasized that BSP, so far the leading South Pacific brand is continuing strong profits and shareholder returns, the company’s capital base remains solid, and attractive economic growth rates and movement to digital channels.

The Association of Superannuation Funds of Papua New Guinea (ASFPNG) commended BSP saying the profit record is a significant return on investment for the three major super funds. 

BSP's full year results, announced to the market, includes a Net Profit After Tax of K1.081 billion, and a dividend payment of K 1.40 per share, bringing the total dividend per share for the Full Year 2022 to 141.74. 

BSP PNG Retail Group General Manager Daniel Faunt said, “So far, 27 old machines in the National Capital District (NCD) have been replaced, with 93 more to be installed by the end of March 2023 in NCD and in Lae. We have seen significantly improved performance from these new machines. Last week for example, the new ATMs installed at Vision City had an uptime of 91%.”

Located at 4 Mile in Boroko, the new NCD Lending Centre officially opens to customers after Christmas and will cater for all personal customer’s lending needs for customers in Port Moresby.

BSP Group CEO Robin Fleming said the NCD Lending Centre will meet all of our Port Moresby customer’s Personal Loan and Home Loan requirements.

“We are not only opening more branches, we are refreshing our value proposition according to the demand in the local market and designing our branches accordingly,” said Fleming.

BSP Haus Branch Manager, Rawalo Rawalo and team handed over the project to the school’s 500 plus students and its 16 teaching staff yesterday and appealed to the community and the school to look after the facilities.

“I hope that through our contribution today, it will make a meaningful and lasting change in the lives of people in our communities,” Rawalo said.

Lealea Primary School Head Mistress, Ranu Lari in thanking BSP for choosing their school said the solar streetlights have lit up their school, giving it an urban look at night.

BSP has over 130,000 active VISA Debit Cards and has noted that some customers are sending their VISA Debit Cards to third party individuals in Dubai, United Arab Emirate, who then withdraw funds from the customers’ accounts as soon as funds are deposited. 

BSP Group CEO Robin Fleming said these deposits made into the customers’ accounts appear to be from scam activities, including pyramid schemes that are largely facilitated via Facebook.