BSP expands to South-East Asia with BSP Finance Ltd

Date: Wednesday January 24th, 2018

BSP officially launched BSP Finance (Cambodia) Plc in Phnom Phen, on Thursday 18 January 2018. Settlement for purchase of 50% of existing asset finance in Cambodia had been completed in May 2017, and following approvals by the National Bank of Cambodia and government departments, the name of the business was changed to BSP Finance (Cambodia) Plc.

Meet the BSP Finance Cambodian Team

Over 120 guests were present at the launch in Phnom Phen to witness the launch which was also attended by the Governor of the Bank of PNG, Loi Bakani, CBE, the Deputy Governor of the National Bank of Cambodia His Excellency Sum Sannisith, BSP Group Chairman Sir Kostas Constantinou,OBE, and BSP CEO Robin Fleming.

Sir Kostas welcomed guests saying that that this was an historic occasion for Papua New Guinea and BSP. He said, "Since its establishment in 1957 as a branch of the National Bank of Australasia, BSP has grown into the South Pacific's largest bank with a presence now in 8 different countries offering general banking services, insurance products and asset financing".

Governor Bakani mentioned that collaboration and co-operation by both the National Bank of Cambodia and the Bank of Papua New Guinea, had enabled a smooth process of review and approval of the investment by BSP in Cambodia. He said that regular interaction with central banks in the region through forums such as South East Asia Central Banks group assisted inter regional co-operation across central banks.

In his remarks His Excellency Sum Sannisith said: "the presence of BSP Finance (Cambodia) Plc. reflects the solidarity, relationship and cooperation between Cambodia and Papua New Guinea from the past to present". He went on to say that BSP's investment reflects the confidence of the investors from Papua New Guinea in the evolution of financial leasing operation of the company in terms of peace, political and macroeconomic stability as well as actively contribute to the development of financial leasing sector.

Sir Kostas thanked BP's joint venture partners the RMA Group, and their Chairman Kevin Whitcraft who participated in the official launch for their trust and confidence in BSP, and he also passed on the appreciation of the board of BSP to Governor Bakani and His Excellency Sum Sannisith.