The upgrade is part of BSP's community project for 2012, where all three branches in Lae combined resources and manpower to assist deliver the project with the help of contractors.
This is the third time BSP has stepped in to assist the Angau Memorial Hospital through its community projects.
BSP Group Chief Executive Officer, Ian B Clyne was in Lae to hand-over the completed project in a small but significant ceremony.
As part of the project, BSP constructed a storage room for vital chemotherapy drugs, purchased needed equipment such as: laboratory goggles and gowns, surgical masks and gloves, a split air-condition unit, a fridge, IV fluids and a pedestal fan.
The bank also purchased a new computer and software required to assist in therapy will also be supplied. The software will be sourced from Australia.
Mr Clyne said BSP has a commitment to the people of Papua New Guinea like no other bank or financial Institution.
"We are proud to say that today, BSP is one of the leading corporate companies in Papua New Guinea in terms of supporting community initiatives, projects and programs that make meaningful and lasting change in the communities," he said.
He said as the only home grown bank in Papua New Guinea, such is BSP's commitment, as it truly understands that it has the opportunity to make a meaningful and lasting difference where it matters most.
"This commitment is testament in today's ceremony, where BSP is handing over yet another worthy community project - an upgraded facility that will serve cancer patients from around PNG," he said.
BSP's commitment to give back to local communities is through a number of initiatives at corporate as well as branch level focusing on health, education, sports and the environment.
"It is also pleasing to note that the success of our community projects are the result of our staff who take time off weekends and work with communities to deliver such worthy projects," Mr Clyne added.