BSP

Group chairman Sir Kostas Constantinou in a statement said BSP is aware of speculation regarding a potential secondary listing of BSP on the Australian Securities Exchange.

He said as previously announced to POMSOX, BSP has been assessing how it might improve the liquidity of its share register.

“The timing and size of any offer under the Potential Listing, will depend on a number of factors within and outside BSP's control, including prevailing market conditions and investor appetite.”

According to the General Manager Retail Paul Thornton, the expo comprises of a two-fold program: an Exhibition and a Conference.

“The exhibition which is open to the general public, will host BSP booths to assist with e-business banking solutions and a BSP branch setup for customer account opening.

Mr Thornton added that the BSP e-products on exhibition will include: EFTPoS, KunduPei, Mobile Banking, Bill Pay, Internet Payment Gateway, Branchless Banking (Agent Banking), Online Personal Banking and ATM. This will also include account opening.

In handing over the tanks, BSP Buka Branch Manager Julie Warren appealed to the Health Centre staff and Gagan community to look after these facilities as they will benefit the whole community.

“We hope our contribution will make a meaningful and lasting change in the communities,” BSP Buka Team also provided other items to the health centre in the form of mattresses and pillows.

Warren thanked the local community leaders and the people for giving BSP the opportunity to implement this project under the BSP Community Projects Program.

Bankers at UBS met with fund managers in the past fortnight, testing their appetite for a dual listing of the financial operation in Australia, in addition to the Port Moresby stock exchange, where it is already listed.

The bank — one of the largest listed on the Port Moresby Exchange — has more deposits than loans because of the limited corporate field to lend to in Papua New Guinea, according to sources.

There are a number of economic headwinds in PNG — its biggest market — with inflation running at 6 or 7 per cent, while currency risk remains a factor.

The funding will go towards the set-up of Anglicare PNG’s first Food Bank and Storage facility. Through the food bank and storage facilities, Anglicare can be able to provide nutritious meal for their beneficiaries.

This initiative is in line with the World Health Organisation (WHO) recommendations on the provision of food baskets at the start of antiretroviral treatment (ART) to combat the excessive hunger that people with HIV, especially those initiating treatment, can experience.

Organizing Committee Chairman Saio Avefa thanked BSP for their support once again for supplying T-shirts to venue official’s and athletic gears to run the championships.

Chairman Avefa confirmed the teams to participate which are; Team Enga, Team WHP, Team Jiwaka, five teams from Chimbu that includes Team Mt Wilhelm, Team Kunabau, Team Ku High School, Team Barigigle and Team Mai High School.

Invitation is open for provincial teams, athletics clubs and schools in the highlands region to participate.

Chairman of the BSP Group, Sir Kostas G. Constantinou made the announcement today.

Sir Kostas in a statement said it is with great appreciation of a long term and significant contribution that the Board has accepted Sir Nagora Bogan’s resignation.

He has been a Director of BSP since 2003.

The Chairman acknowledged that Sir Nagora Bogan had contributed immensely over the years as Director of the Board and as a member of the Board Audit & Risk Compliance Committee.

The bank was closed two weeks ago.

This has has resulted in business and local people travelling to Buka for banking.

A concerned businessman in Arawa, Lawrence Matau told Loop PNG that millions of kina worth depositing is now in their hands and they will spend money again to travel to Buka.

“According to the bank staff, communication problems was the issue that causes the closure. This is what really frustrating to us business houses in Arawa as any problems should be fixed in ample time. We don’t want to go to Buka,” Matau said.

While in Madang over the weekend, BSP Board Members took the opportunity to visit the Madang Holy Spirit Elementary and Primary School to officially open the community project that had been undertaken by the staff of BSP Madang branch.

BSP Chairman Sir Kostas Constantinou OBE officiated at the opening and handover ceremony where he commended the school principal Gabriel Banglang, his staff and students for their assistance during the course of completion of the project, which involved the installation of three 5,000L water tanks and taps for the students at the school.

The bank recognises and supports the worthy efforts of the Salvation Army in PNG, and is pleased to contribute to this cause.

In presenting BSP’s support, Group General Manager – Retail Banking, Paul Thornton said, “We value People and Community, which are two of the Bank’s values that we share. We value relationships that are built and pleased to support organisations that share the same vision and deliver lasting changes in the communities.”