The reduction was primarily caused by the Additional Company Tax of K190 million and a one-off tax credit of K135 million.
Despite these challenges, BSP's Acting Group CEO Ronesh Dayal stated that the Group's underlying net profit after tax (NPAT) of K1.136 billion represented a 5.7% increase on 2021 profits, driven by improved economic conditions in the Pacific.
Net interest income rose by 8.8%, foreign exchange income increased by 11.2%, and total loans increased by 4.6% to K15 billion.
