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.
In announcing the reopening of its operations in Porgera, BSP Group CEO Mark Robinson said; “whilst we are pleased to return and resume services for the people of Porgera, we call upon the community to support and look after the staff and bank facilities that provide essential banking service to Porgera.”
Due to tribal fights that erupted almost a year ago which resulted in the burning down of more than 100 houses and buildings in Enga Province, businesses such as BSP were forced to closed their doors.
“Law and order is a continuous issue faced by our branches in local communities. Whilst there is a need for banking services in these communities, criminal attacks and law and order issues puts the safety of BSP staff at risk. The safety of BSP staff takes absolute priority,” said Mr Robinson.
“We are the only bank operating in Porgera and withdrawal of our services since May 2022 has deprived our customers who rely on our services where no other banks are willing to offer banking services in this province as well as many other areas in PNG.”
Mr Robinson added that “any further security issues encountered will likely result in the permanent closure of the branch which would leave Porgera without commercial banking services forcing customers to travel to Wabag to conduct their banking.”
Despite the law and order challenges that continue to confront BSP, 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 also continues to open new branches in the country with the recently opened Lending Centre in NCD, the Eriku Branch in Lae, Morobe, the Koroba Branch in Hela, Palmalmal in East New Britain, Namatanai in New Ireland Province, and the soon to be opened Dobel Branch in Mt Hagen.