BSP Financial Group Ltd (BSP)

BSP responds to banking issues

BSP Group chief executive officer, Mark Robinson and chief financial officer, Ronesh Dayal took the time to answer some of the critical questions regards to the new banking system, Oracle Flexcube.

“We worked very closely with leading global technology providers starting with Oracle Flexcube. Clearly, when we implemented over the Good Friday Easter weekend in April there were large parts of the bank that went well, eftpos went well apart from one little snag for a few hours.

From College to BSP CEO - Fleming

Originally, from Australia, Robin is a devout man in a deeply Christian country of which he has become a citizen. He lives in PNG with his wife Dora, and three children Cassandra, Liam and Joshua.

The Queensland-born is known by his trademark handlebar moustache and mullet hairstyle, but says less about him than it does about PNG’s business community.

He is known by many on the streets of PNG as the “Bossman Bilong Hausmoni” which simply means the “Bank Boss”.

New BSP centre to reduce bank queues

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 General Manager Retail, Daniel Faunt said that BSP is focused on improving its customer experience in 2023 and the new Lending Centre will assist in reducing branch queues at other branches across NCD.

BSP Delivers Strong Results

The strong underlying business performance across the Group reported in the first three-months of 2022 was maintained in the second quarter. This has resulted in an increased first-half 2022 Group net profit after tax of K586m, compared to K449m for the corresponding 2021 period.

After adjusting for the Additional Company Tax of K190m, the Group’s net profit reduced to K396m.

School Kriket Program Launched

This year marks a 13-year partnership between BSP and CPNG in hosting the programme that involves elementary, primary and secondary schools in the country.

Schools in NCD turned up at the Amini Cricket Park to witness the launch including Kilakila Secondary school, Bavaroko Primary School, St Charlse Lwanga Secondary School, Pari Elementary schools and Tokarara Primary school.

BSP Life PNG Sold Over 900 Insurance Policies

An outstanding performance that was 40 percent above policy count and 27 percent above Annual Premium basis from 2020.

BSP Life PNG Country Manager, Nilson Singh congratulated his team on their overall 2021 performance and thanked the Top Agents at the Annual Sales Awards Night.

“Despite the continued challenges from the pandemic in 2021 and with less than 3 percent insurance penetration in PNG and lack of savings culture, our agents did push through and delivered a better performance than 2020.

Trading on ASX

BSP Financial Limited Group CEO Robin Fleming said, “Since BSP’s listing on the Australian Stock Exchange (ASX) in May, we are now pleased to announce to our shareholders that they can trade on the ASX market.”

In order to move shares across to ASX, BSP PNGX shareholders are required to fill in two mandatory forms; the PNG Registries Shunt Form and an IRC Tax Clearance Form.

Fleming explained the process of shunting or moving shares.