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BSP Telefomin Hybrid Branch ground breaking

Wednesday, October 26, 2022

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.

BSP Financial Group Ltd joined the Telefomin District Development Authority today, Wednesday 26th October 2022, for a ground-breaking ceremony to officially start the construction of the new Telefomin District Administration office complex.

The Member for Telefomin and Minister for Works and Roads, Hon. Solan Mirisim said the modern office complex is being built by the Telefomin District Development Authority at a cost over K9 million.  Upon completion, it will house the various government functions in the district, as well as the new BSP Telefomin Hybrid Branch.

BSP Group Deputy GM for Retail, Peter Komon said BSP will invest K2 million to build the new BSP Telefomin Hybrid Branch within the new district complex.  “The hybrid branch will be a significant upgrade of the existing Telefomin Sub Branch that was established back in 2013 under the Bank’s BSP Rural Banking program; providing the full range of banking services including ATM services to the more than fifty thousand people living in the Telefomin, Yapsi and Oksapmin LLGs of the district.

“The new branch is a larger modern building and will have more staff to serve customers. This upgrade would enable improved communication systems that will see more banking services like account opening, deposit and withdrawal services, lending as well as access to other bank products including ATMs.  Businesses in Telefomin will also have access to bank services.

BSP Retail Deputy GM Peter Komon, Irad Nati - Managing Director, Tumla Investments Ltd (contractor) Forest Minister and Telefomin MP Hon. Solan Mirisim, Tabubil Branch Manager Diane Rali Kome and BSP Group CEO Robin Fleming at the Telefomin branch upgrade groundbreaking.

“We remain the only bank to operate in the Telefomin and 21 other locations in the country. In the past, locals either travelled by air to Vanimo or to Kiunga and Tabubil in Western Province to do banking. Some even walked the bush tracks through some of the most unforgiving terrain taking many hours, even days, just to do banking,” Mr Komon said.

“BSP’s contribution to the development of Telefomin is not just confined to Banking services but also through our Community Projects. We have invested K670, 000 in West Sepik Province through 28 projects since 2009. We will continue to serve the people of West Sepik Province through our two branches (Vanimo and Aitape), Telefomin Sub-Branch, (8) eight Cash Agents, six (6) ATMs and 105 EFTPoS in the province,” Mr Komon further added.

In 2020, our Tabubil Branch assisted Telefomin Sub Branch deliver a community project in Telefomin   with a donation of computers and printers, library books, and chairs to both Telefomin Primary School and Telefomin Secondary School worth K30, 000.00.

BSP Group CEO Robin Fleming said BSP remains committed to expanding, upgrading and improving our services around the country. “In March we opened the Palmalmal Hybrid Branch in Pomio, in September we witnessed a similar ground breaking in Dobel and today, here in Telefomin. Our Eriku Branch will open next week and we still have Maprik Sub-Branch to upgrade in 2023” Mr Fleming said.

“We are not only bringing banking services to some of the most remote areas, we are maintaining these operations which in many cases are not profitable, and upgrading them to continue improving our customer experience” Mr Fleming added.

BSP BSP’s network operation in PNG consists of 42 branches, 42 sub branches over 250 Cash Agents, 326 ATMs and over 9,000 EFTPoS in the country.