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BSP gives facelift to school ablution block
BSP Financial Group’s Treasury Team has lent a helping hand to one of NCD’s biggest primary school, eliminating health’s risks associated with its 20-year-old ablution block.
BSP driving ‘Go Green Campaign’ in schools
BSP as the largest bank in PNG and the Pacific continues to drive its Go Green Campaign environmental message among schools and communities it operates in, through its annual School Clean-up campaign.
BSP continues to support Operation Open Heart, 23 years on
A partnership support that spans 23 years continues between BSP Financial Group Limited and the Operation Open Heart Program.
Inflation Remains a Concern for Importers
Depreciation of the PGK/USD midrate will benefit exporters as they receive more PGK for their goods, whilst importers will see higher prices as their cost-per-kina increases when purchasing goods overseas to bring into PNG.
BSP and the Australian Business Volunteers (ABV) join forces to train local SMEs
BSP Financial Group Limited (BSP) in partnership with Australian Business Volunteers (ABV) has extended the roll out of its YES Grow Program to local SMEs across PNG, following the program’s success in Fiji earlier this year.
BSP maintains its growth momentum, with revenue growing by 6.7% to K2.05 billion for the nine months to September 2023
BSP’s strong business performance across the Group was maintained in the third quarter of 2023, with year-to-date operating profit of K1.24b, compared to K1.20b for the same period in 2022.
BSP continues to support CPA Conference
“BSP Financial Group has a long standing relationship with the Certified Practicing Accounts (CPA) of PNG and is pleased to continue that by supporting the annual CPA PNG Conference for another year,” says BSP Head of Financial Reporting, Douna Vaname.
BSP contributing to nation building
BSP Financial Group Limited (BSP) joins in commemorating the country’s 48th Independence anniversary this week.
BSP backs PNG’s oldest cultural show – the Goroka Show
Homegrown bank, BSP Financial Group Limited is pleased to support PNG’s oldest cultural show - the Goroka Show with a silver sponsorship of K20, 000.
BSP to Open Selected Branches for Saturday Banking
BSP Financial Group Limited (BSP) will offer Saturday banking at selected Retail Branches nationwide commencing on Saturday 9th September, 2023.
BSP commence roll out of the American Express Cards on Merchants
BSP Financial Group Limited (BSP) is set to begin a significant functionality enhancement rollout on all its EFTPoS and ATM services.
Response to Social Media Post about "BSP - Syndicate"
BSP Financial Group Limited (BSP) is aware of recent messages circulated on WhatsApp forums and social media that makes various allegations about unauthorized activities claimed to involve BSP or Government officials.
BSP Takes Out Top Honors from Torrens University Australia at IBBM Graduation
With a focus on improving staff development and capabilities, BSP remains committed to investing in its greatest asset – its human resources.
BSP Rabaul runs Financial Literacy Training in schools
BSP’s Financial Literacy program continues in selected schools in partnership with our community partner, NRL Club, Brisbane Broncos.
BSP gets behind ANCOP’s global walk
BSP Financial Group Ltd (BSP) has come on-board to provide vital funds to support under privileged children with no formal education.
BSP offers banking services to Hagen show goers
Mt Hagen Show attendees will be offered something different this weekend - banking services from Saturday 19th to Sunday 20th August, 2023 - at the Queens Park Oval as part the BSP Financial Group Limited (BSP)’s support for the event.
BSP has a long banking history with the people of Papua New Guinea dating back to 1957.
BSP supports Enga Cultural Show
BSP Financial Group Limited (BSP) is proud to provide K30,000 in sponsorship to the much-loved Enga Cultural Show.
BSP Continues Support for Sepik River Crocodile & Arts Festival with K30, 000
In efforts to preserving and promoting cultural heritage, BSP Financial Group Limited (BSP) has pledged in K30, 000 to the Sepik River Crocodile and Arts Festival scheduled for 5th – 7th August 2023, in Ambunti District, East Sepik Province.
BSP’s Regulatory and Legal Obligations
Recently BSP Financial Group Limited (BSP) took a decision to cease its relationship with one of its customers. BSP has allowed the customer time to make alternative arrangements before its relationship with BSP is concluded. The reasons for BSP’s decision are known to the Bank of Papua New Guinea and the Financial Analysis and Supervision Unit and have been communicated to members of government.
BSP partners with Grass Skirt Project to address FSV and GBV
BSP Financial Group Ltd (BSP) remains committed as an advocate against family, sexual and gender based violence.
BSP commissions first Agent on Manam
Manam Islanders in Madang Province will now save a K100 round trip to Madang Town to access banking services following the commissioning of its first BSP Cash Agent early this week.
BSP supports National Mask and Warwagira Festival
“Promoting and preserving our culture through community engagement and youth empowerment ensures our cultures are kept alive for future generations and continues to unite Papua New Guinea,” says BSP Kokopo Branch Manager Kalat Tiriman.
BSP Continues Support for Cancer Foundation - Trupla Man Outreach Prevention Program
BSP Financial Group Limited (BSP) is pleased to continue its support for the PNG Cancer Foundation (PNGCF) Trupla Man Outreach Prevention & Education Program this year with another K20, 000.
BSP Supports Paralympian Athletes with over K73,000
BSP Financial Group Limited (BSP) continues to bank its support for sports in PNG when presenting a cheque of K73,425 to the PNG Paralympic Committee for the 2023 World Para Athletics Championships in July, in Paris, France.
In Tribute to Sir Kostas Constantinou
BSP Financial Group (BSP) Chairman Robert Bradshaw paid tribute to Sir Kostas Constantinou, who recently passed away.
BSP Increase Support for Trash to Treasure Sculpture Festival
In promoting sustainable production and awareness on environmental impacts consumption patterns in the National Capital District (NCD) and PNG, BSP has reaffirmed its support as naming rights sponsors for the 5th consecutive year to the Port Moresby Nature Park 2023 Trash to Treasure Sculpture Festival in Port Moresby.
Green bank advocates recycling this World Environment Day
‘Solutions to plastic pollution’ is the theme for this year’s World Environment Day and BSP Financial Group as the green bank is pleased to align this theme with its annual Trash to Treasure Sculpture Festival.
BSP Reaffirms Support for Rabaul Rugby
BSP Financial Group Limited (BSP) continues to support junior school sports programs when presenting a K40,000 cheque to the Rabaul Rugby League Association (RRLA) in support of the Rabaul School Rugby program.
Medium-term outlook remains optimistic
“Business sentiment is robust following the announcement of the Papua LNG project reaching the front-end engineering and design (FEED) phase and Porgera’s resumption progress announced by Barrick CEO in early April,” according to the BSP Quarter 1 2023 Economic Insight report.
BSP appoints Nuni Kulu as first Female GCOO
BSP Financial Group Limited (BSP) has appointed Nuni Kulu as the new Group Chief Operating Officer (GCOO) on Wednesday 26th April, 2023, making Ms. Kulu the first Papua New Guinean woman to have this leadership role in its history.
Seventy five percent of overdrawn accounts settled
“As of 1st May, 2023, seventy-five percent of funds have been repaid by customers who have overdrawn their accounts in April, with an outstanding balance of less than K2.0m expected to be repaid over the next few weeks. For customers who experienced an issue with their account balance, we have now verified all accounts and confirmed account balances are correct,” said BSP Group CEO Mark Robinson.
Lower Commodity Prices to reduce Foreign Exchange (FX) Inflows
“Lower commodity prices and the delay in Porgera’s resumption is expected to prolong distress in PNG’s foreign exchange market,” according to the BSP Quarter 1 2023 Economic Insight report.
New Banking System Implementation Update | Thursday 20 April
BSP would like to thank customers for their patience, after a technical issue impacted account balance availability, system connectivity and batch payments, which has resulted in some customer payroll payments and other payments being delayed.
New Banking System Implementation Update
“BSP acknowledges that many of our customers have been inconvenienced with delays to their banking services, receiving payments and interruptions accessing account information. BSP is addressing our technical issues and improving our operations under our new Banking System”, said BSP Group CEO Mark Robinson.
BSP, New Banking System Implementation Update
“BSP would like to thank our customers for their patience and understanding while we address some technical issues that have impacted our service standards”, announced BSP Group CEO Mark Robinson.
BSP ATMs, EFTPoS available All Easter Weekend
BSP ATMs, EFTPoS and Online Purchase Services will remain operational throughout the Easter weekend, except for only three (3) hours from 12:01am to 3:00am on Friday 7th April, 2023.
BSP assists more than 2600 SMEs
BSP Financial Group Limited (BSP) continues to drive the SME sector in the country by assisting local businesses expand, generate revenue and create more employment through the various SME Loan Products it offers.
BSP Launch School Kriket Program in Lae
BSP Financial Group Limited (BSP) with support partner Cricket PNG (PNG), launched the BSP School Kriket program in Lae at the Eriku Oval to kickstart the program for schools throughout the country.
BSP not associated with online money scams
“BSP Financial Group Limited (BSP) is not associated with any online investment or scam activities and will not be liable for any transactions with any such individual, groups or associations.”
BSP #EmbraceEquity in management roles
BSP Financial Group Limited (BSP) recognises the importance of women in our societies and is proud to be an inclusive employer for its 4,600 plus staff.
BSP Reopens Porgera Sub Branch
BSP Financial Group Limited (BSP) reopened its Porgera sub branch on Tuesday 7th March, 2023, after a year of closure due to security issues in 2022 that forced the branch to close.
BSP delivers a record K1.136b underlying profit for FY2022
BSP delivers a record K1.136 billion underlying profit, with BSP’s statutory profit reducing to K1.081 billion once the impacts of the new PNG government taxes are applied. Consequently, BSP’s shareholders K1.74 full year dividend was only marginally higher (0.6%) than the prior year’s K1.73.
New BSP Banking System Implementation
“BSP Financial Group Limited will migrate to the new Core Banking System – Flexcube in April 2023,” says BSP Acting Group CEO Ronesh Dayal.
BSP Pitched in K19,000 for the ‘2023 Liklik Softball’ Program
In developing and identifying young and local sporting talents, BSP Financial Group Limited (BSP) has pitched in K19,000 to the Port Moresby Men’s Softball Association as naming rights sponsors of the “2023 Liklik Softball” competition for junior softballers in Port Moresby.
PNG FX Market Turnover increases in 2022
Foreign exchange turnover growth was driven by both increased BPNG interventions and higher receipts from commodity exports.
BSP gives K30, 000 for Hiri Moale Festival
BSP Financial Group Limited (BSP) is the first corporate organization to throw its support behind the Motu Koita Assembly in hosting the 2023 Hiri Moale Festival.
Confidence improves despite high inflation
“Business and consumer confidence continued to improve during the final quarter of 2022, with anecdotal evidence across a broad section of our retailers and hotel operators experiencing record pre and post-Christmas sales activity”, said BSP Group GM for Corporate Banking, Peter Beswick.
BSP Saturday ‘Deposits’ for School Fees
“We understand that a lot of our customers cannot make it to our branches during week days to pay for school and tertiary institution related fees therefore BSP, as in past years, has allowed for selected BSP Branches to be open on Saturdays for ‘Back-to-school’ needs, commencing this Saturday 21st January, 2023,” announced Deputy General Manager for Retail – Sales and Customer Service Delivery, Peter Komon.
Accelerate Foreign Direct Investments (FDIs) in 2023 to sustain PNG’s economic recovery
Papua New Guinea's economy through the course of 2022, has experienced higher levels of activity post the COVID-19 period. To maintain this shift in momentum, government needs to accelerate foreign direct investment (FDI) in 2023.
BSP replacing 120 ATMs
“In our continued efforts to improving our ATM services, BSP is installing 120 new ATM machines and is working to ensure our ATMs are available for customers to easily access cash,” says BSP Retail Group General Manager Daniel Faunt.
BSP opens Lending Centre in NCD
BSP continues to serve its customers through branch expansions and today, Wednesday 21st December, 2022, soft launched its ninth branch in the National Capital District.
BSP SMEs undergo development training
Thirty-eight (38) participants comprising of BSP SME customers and BSP staff recently completed a two week training on understanding the different aspects of businesses and how to grow them.
BSP, more than a bank.
Amid the countless challenges in the rural communities, BSP Financial Group Limited (BSP) continues to maintain and provide not just the banking services but the much needed support to communities which it operates in through BSP’s Community Projects each year.
BSP CFO appointed Acting Group CEO
The BSP Board has announced the appointment of its current Group Chief Financial Officer (CFO) Ronesh Dayal as Acting Group Chief Executive Officer (GCEO), effective 1st January, 2023.
BSP Restores Banking Services at Henganofi Sub-Branch
BSP Financial Group Limited (BSP) has restored banking services in Henganofi District in Eastern Highlands Province yesterday (Tuesday 29th November, 2022), after weeks of shutdown following a breaking and entering of the sub branch on Tuesday 1st November, 2022.
ANG to Accept BSP Pay for Ticket Purchase Online
Air Niugini and BSP Financial Group (BSP) customers can now book and pay for airline tickets instantly and securely online without using their BSP Cards via BSP Pay online payment option.
BSP a Best Performing Private Sector Organisation
BSP Financial Group Limited has been recognised by the PNG Human Resources Institute (PNGHRI) and awarded one of the two Best Performing Private Sector Organisations with Best Practices in its Human Resources & Information System – iChris.
BSP Navo Sub-Branch indefinitely closed
BSP Financial Group Limited (BSP)’s sub branch at Navo in West New Britain Province was broken into over the weekend with significant damage caused to BSP property. BSP Navo was set up to assist the local community who otherwise would have had to travel to Bialla, which is one hour out, by road.
BSP Supports Port Moresby General Hospital Cancer Ward
BSP Financial Group Limited (BSP) Presented K22, 000 to the Port Moresby General Hospital Cancer Ward today (Friday 18th October, 2022) at the BSP Waigani Head Office in Port Moresby.
Pacificana accepts BSP Mobile Merchant Payments
Pacificana a Local MSME has partnered with BSP Financial Group Limited (BSP) through registering as a BSP Mobile Merchant. Customers can now order and pay using Pacificana’s BSP Merchant Code 56997.
BSP Supports National Volleyball Championships as Naming Rights Sponsors
BSP Financial Group Limited (BSP) has served in K50, 000 to Papua New Guinea Volleyball Association to host the 2022 National club championships scheduled from November 8th – November 11th, 2022.
BSP opens new Eriku Branch Doors
BSP Financial Group Limited (BSP) continues to strengthen its presence and relationship in Morobe Province through the opening of its Eriku Branch in Lae today (Thursday 3rd November, 2022).
BSP Continues to be an Advocate against FSV
BSP Financial Group Limited (BSP) understands that Family Sexual Violence (FSV) is the most prevalent form of gender inequality that affects households and communities, and spans across workplace and generations.
BSP records NPAT of K672 million in Q3 of 2022
BSP’s strong business performance across the Group was maintained in the third quarter of 2022, with Group net profit after tax of K672m, compared to K699m for corresponding 2021 period. This sound performance was achieved notwithstanding BSP having expensed the Additional Company Tax (ACT) payment of K190m, which was introduced this year.
BSP launches Awareness campaign on Financial Abuse
BSP Financial Group Limited (BSP) launched its inaugural awareness campaign on financial abuse today (Thursday 27th October, 2022.)
BSP Telefomin Hybrid Branch ground breaking
BSP Customers in one of the most remote areas of the country - Telefomin District in West Sepik Province will have improved banking services, in mid-2023 once BSP’s upgrade of the sub-branch to a Hybrid Branch is complete.
Vodafone on BSP Mobile Banking platform *131#
BSP customers who are registered Vodafone SIM Card holders can now access Mobile Banking services on BSP Mobile Banking USSD Platform *131#.
High Commodity Prices to Support Foreign Exchange (FX) Inflows, says Top Banker
“Firmer commodity prices have offset lost foreign exchange market inflows from the closure of the Porgera Gold Mine after Barrick inflow decreased by 75%,” According to the BSP Quarter 3 Economic Insight report.
BSP Supports BPNG’s Monetary Policy Stance to Address Inflation
Many businesses and individuals are being affected by the increased cost of business and increased cost of living with Consumer Price Index (CPI) inflation in PNG at 5.5% at the end of the June quarter, and the Bank of PNG (BPNG) forecasting 6.0% inflation for the year 2022.
Business Confidence Improved
“The Prime Minister and Hon. James Marape’s opening address at the 11th Parliament session on “Restructuring Governance and Real Development Outcomes” was well received by the market,” said BSP Group General Manager for Corporate Banking, Peter Beswick.
BSP Continues to Support PNG Swimming Inc with K80, 000
BSP Financial Group Limited (BSP) remains committed to giving young swimmers in PNG the opportunity to progress further in competitive swimming and representing the country internationally.
BSP hosts Leadership and SME Immersion
A SME owner has thanked the BSP Financial Group Limited for collaborating, recognising and acknowledging SMEs efforts, especially women in business who continue to break barriers and create opportunities for other local businesses.
BSP and Brisbane Broncos Strengthens Community Partnership
The BSP Financial Group’s Limited (BSP) Community partners and Australian professional rugby league club, the Brisbane Broncos Management and a few current players are in the country for few days visit as part of their community engagement drive with BSP.
BSP Red Ribbon sponsor brings banking into Morobe Show
Personal Account opening, registrations for Mobile and Internet Banking and Cash Agent awareness will be among services offered this weekend at the BSP Stall during the 59th Morobe Show.
BSP walks into Pinktober with 'Pink-a-thon'
October is women’s health awareness month under the Pinktober global health campaign and BSP Financial Group Limited as a responsible corporate organisation also joins others to champion this worthy cause in the community.
BSP Group CEO accorded ‘Honorary Professor in Banking and Finance’
BSP Group CEO Robin Fleming is among five Papua New Guineans who have been accorded the honorary title of Professor by the University of Papua New Guinea’s School of Business and Public Policy for their contribution to the country as well as standing in the community.
BSP Donates Classroom Equipment to Special Education School
Providing a revitalized facility for children to study stimulates an encouraging learning environment for children,” says Head of BSP Credit Inspection, Mukesh Madho when handing over a completed refurbished project by Group Compliance team to Callan Resource Center Services Special School for Children with disabilities in Gerehu last Thursday 22nd September, 2022.
New BSP Branch in Western Highlands
Western Highlands Province will now have two fully serviced branches come July 2023, thanks to the BSP Financial Group Limited (BSP).
BSP refurbishes Pari village urban clinic
Clinics and Health facilities play a critical role in providing primary health care services however the challenge most facilities face is maintenance – an aspect BSP Financial Group Ltd has been able to address in a community through its Community Projects.
BSP Delivers New Basketball Court to Kuriva Primary School
Fifty years on since its establishment, the students of Kuriva Primary School along the Hiritano Highway in Central Province now have a Basketball Court for Physical Education lessons, thanks to BSP Financial Group’s 2022 Community Project.
BSP conducts ATM information awareness session
In an effort to create more public awareness of its ATM operations, BSP conducted an ATM information awareness session on Tuesday 20th September 2022, with members of the mainstream media in Port Moresby.
BSP Finance Refurbishes Bomana Health and Welfare Building
The BSP Finance PNG team has handed over a refurbished hoary old building at the Bomana Correctional Facility that housed the jail clinic, welfare office, Chaplain’s Office, the Main Prison Food Storage room and the Office of the Officer In Charge of the Bomana Correctional Service Institute in Port Moresby.
BSP supports POM City Markets with K10, 000
For the second year running, BSP Financial Group Limited continues its support to the monthly POM City Market with a Bronze Sponsorship of K10,000.
BSP assist prepare Santos PNG Orchids team for trip
The Santos PNG Orchids will be traveling to Australia on Wednesday 21st September, 2022, for the upcoming Prime Minister's XIII match against the Australian Jillaroos. The match will be played on Sunday 25th September, 2022.
BSP ‘Helpim Mama Karim Haus’
Mothers at Port Moresby General Hospital’s Post Natal Ward will now have access to an additional ablution block after it refurbished by three (3) of BSP Financial Group Limited’s (BSP) Strategic Business Units.
Introducing BSP e-Commerce Services on GoFood (PNG) Mobile App
GoFood (PNG), an online food delivery service recently partnered with BSP Financial Group Limited to launch their GoFood (PNG) Mobile App for customers to order and pay for goods and services.
BSP to Re-file Supreme Court Challenge on Additional Company Tax and Market Concentration Levy
BSP Financial Group Limited (BSP) is in the process of filing a new application in the Supreme Court under Section 18 (1) of the Constitution to declare the amendments to the Income Tax Act, which introduces the “Additional Company Tax”, as unconstitutional, according to BSP CEO, Mr Robin Fleming who re-iterated that it has always been BSP’s intent to challenge the Act. BSP is also challenging those amendments that impose a Market Concentration Levy.
BSP Supports Local Product Owner
BSP Financial Group Limited (BSP) continues to be an advocate for women and girls in communities when partnering with Queen Pads PNG to support its work and product distribution.
BSP supports staging of Mt Hagen Show
“The historical Mt Hagen Show is on again this weekend (Saturday 20th to Sunday 21st August, 2022) and BSP Financial Group is proud to be supporting the show as Bronze sponsors,” said BSP Mt Hagen Branch Manager Theresa Pilamp.
BSP continues to deliver strong underlying financial results in the first-half of 2022
The strong underlying business performance across the Group reported in the first three-months of 2022 was maintained in the second quarter, resulting in an increased first-half 2022 Group net profit after tax of K586m, compared to K449m for the corresponding 2021 period. After adjusting for the Additional Company Tax of K190m, the Group’s net profit reduced to K396m.
BSP supports successful Enga Cultural Show
A feast of cultural festivities was successfully held over the weekend in Wabag Town – featuring showcase of sing sings, rituals, flora and fauna, the Enga-Made Expo and even banking services by BSP Financial Group Limited’s (BSP) Wabag Branch.
Wabia Rural Health Centre lit up by BSP
Patient health care will be improved at the Wabia Rural Health Centre in the Komo Huli District of Hela Province following the refurbishment of the facility and donation of medical equipment by BSP Financial Group Limited.
BSP backs PNG Santos Orchids Team
BSP Financial Group Limited (BSP) continues to support sports and women empowerment in communities while promoting local talents at an international level.
Koiari Park Secondary Receives new e-Library System
In the hope to aid students maximise their access to greater study materials, BSP Life PNG Limited (BSPL) donated two new computer sets and three Wi-Fi-routers to Koiari Park Adventist Secondary School, with access to free e-learning material to supplement the knowledge and skillsets for these students.
BSP Closes Chuave and Mendi Branch Doors - Porgera Remains Closed
BSP Financial Group Limited (BSP) has been forced to shut the doors of four if its branches in the Highlands and Momase regions following security concerns, mostly related to the 2022 National General Elections. Porgera branch in Enga, Koroba Hybrid Branch in Hela, Chuave Sub Branch in Simbu, and Kabwum and Mutzing Sub Branches in Morobe all remain closed. The operations of BSP Mendi Branch in Southern Highlands has also been disrupted in the past week.
BSP includes special needs children in 2022 Community Project
BSP Financial Group Limited has been thanked for recognising the rights of children with special needs and enabling access to education through one of three refurbished classrooms at the Gababaga Primary School in Central Province.
BSP and BbP Launched New Children’s Book
Buk Bilong Pikinini (BbP) and BSP Financial Group Limited (BSP) yesterday (Thursday 03th August, 2022), launched the 8th Series of the 13th Editions of children’s book “When I Grow Up” at the BSP Port Moresby Branch.
Changes to Indicator Lending Rates
BSP Financial Group Limited has announced changes to its variable rate lending products that will take effect on Thursday 1st September 2022.
Community & Service News
The latest company information for BSP customers, media and general public.