BSP Group

BSP says sorry, commits to fixing issues

The core banking system was questioned as to whether BSP will be back to smooth sailing or a seamless experience with the bank soon.

BSP Group chief elective officer, Mark Robinson, apologized for the inconvenience the bank has caused to the customers as well as thanked customers for their patience.

He emphasized that the bank is taking customers’ feedback seriously and promised that the BSP will get out of the situation.

“I can tell you now that most people are having a seamless experience with the bank but that’s not good enough, it has got to be 100 percent.

Confidence improves despite high inflation

BSP Group General Manager - Corporate Banking, Peter Beswick in giving his insight in the 2022 BSP Quarter 4 Pacific Economic and Market Insights Report said: “Increased business and leisure travel has seen hotel occupancies reach pre-COVID levels, with many hotel and accommodation facilities near full occupancy.”

He said for its Corporate Banking Customers BSP is projecting that demand velocity will continue throughout 2023.

“Inflation on the other hand remains the primary concern for BPNG, businesses and consumers,” according to Mr Beswick.

BSP joins campaign to eliminate GBV

The campaign runs until 10th December, 2021, which is Human Rights Day.

 

The company is running its campaign under theme ‘I am a feminist, I believe in social, economic and political equality.

 

The Global 16 days of Activism is an annual international campaign against gender-based violence against women.

 

BSP Group CEO, Robin Fleming said BSP is an advocate against gender-based violence and family & sexual violence.

BSP seeks dual listing

In an announcement on the PNG Stock Exchange (PNGX), BSP Group Board Chairman, Sir Kostas Constantinou, issued a notice of the bank’s intention to convene a special meeting of shareholders.

The special meeting will seek approval for changes to its constitution to enable an application to be made for BSP to be included in the Official List of the ASX, in order to achieve dual listing in addition to the existing PNGX listing.

Constantinou said: “The notice of meeting is currently subject to advice and approvals, which are expected to be finalised during March 2021.”

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BSP Group announces 2020 Profit

The result is 9.5% lower compared to 2019, driven by an increase in impairment expenses to K201.3m (+102.9%) due to the impact of COVID-19 across the Group.

In announcing the 2020 results, Sir Kostas Constantinou, OBE, Chairman of the BSP Board highlighted that notwithstanding the profit reduction, the result reflects a continuing strong underlying performance by BSP which has been able to withstand the significant adverse impact of the COVID-19 pandemic due to its strong balance sheet and prudent provisioning policies.

New BSP SME VISA card launched

BSP Group General Manager – Retail, Paul Thornton, when launching the new BSP SME VISA card, said: “The card is specially designed for our SME clients who hold SME Current Account and SME Package Accounts. A BSP customer under these accounts is eligible for the new SME VISA Card.”

The upgraded SME VISA cards will replace all existing Smart Business cards.

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Challenging period for Pacific nations: BSP

BSP Group CEO Robin Fleming, when releasing BSP’s Economic & Market Insight December quarter, said: “Whilst natural disasters and external economic shocks pose a constant threat to economic growth and fiscal sustainability for each Pacific nation, pleasingly these economies have positive growth outlooks in 2020.”