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BSP opens Lending Centre in NCD

Wednesday, December 21, 2022

His Eminence, Cardinald Sir John Ribat and BSP Group CEO Robin Fleming cutting the ribbon at the NCD Lending Centre.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.

Located at 4 mile in Boroko, the new NCD Lending Center officially opens to customers after Christmas and will cater for all personal customer’s lending needs for customers in Port Moresby.

BSP Group CEO Robin Fleming said the NCD Lending Centre will meet all of our Port Moresby customer’s Personal Loan and Home Loan requirements. 

We are not only opening more branches, we are refreshing our value proposition according to the demand in the local market and designing our branches accordingly”, said Mr Fleming.

Mr Fleming added that whilst Port Moresby based customers will be able to access some limited lending services for a short period of time from their home branches, the Lending Centre will be the primary point for anyone with a specific lending need.

“The branch will comprise of a team of 37 specialist lenders who will be focused on ensuring customers’ lending needs are met. The branch is a cashless branch and will not offer transactional banking services, which will continue to be offered by our 5 other Branches across the NCD”, He further added.

BSP Group General Manager Retail, Daniel Faunt added that BSP is focused on improving its customer experience in 2023 and the new Lending Centre will assist in reducing branch queues at other branches across the NCD.

“The Lending Center should result in reduced queues in our other NCD branches as well as improve the waiting times for anyone with a lending need who can now be served in this purpose built lending Centre,” said Mr Faunt .

Faunt further added that BSPs personal loan promises a maximum 24 hour turnaround time with loans able to be credited to accounts as quickly as 90 minutes following submission of all necessary requirements.

 “BSPs First Home Owner Loan remains the best product in the market offering a fixed rate of 4% over 40 years while our Standard Home Loan rate of 5.50% is also offered over 40 years unlike our competitors,” he went on to say.

Mr Fleming also noted that BSP operates a network of 86 branches and sub branches located in all the provinces of PNG with many of these branches operating at a loss to BSP. “BSP recognizes the importance of the provision of banking services to all communities in PNG and does so as part of its core value of community.

“In 21 of these locations, BSP remains the only commercial bank providing banking services and unlike its competitors goes to locations that no other bank would consider,” explained Mr Fleming.

In addition to the new NCD Lending Centre, between 2021 and 2022 BSP opened new branches in Koroba in Hela, Palmalmal in East New Britain, Namatani in New Ireland Province and Eriku in Lae, Morobe. BSP has also held ground-breaking ceremonies at Telefomin in West Sepik and Dobel in Hagen, Western Highlands, both of which are expected to open in mid-2023.

BSP continues to service the NCD through nine (9) branches, 31 Cash Agents, 119 ATMs, and 3,424 EFTPoS merchants.

BSP also encourages all customers to consider using digital banking options available to them that will negate the need for them to attend to branches.

BSP also offers the Customer Self Service App that allows its customers to digitally apply for personal loans and is available for download via google Play store.