News & Announcements

BSP Financial Group Limited has successfully opened its new Telefomin Branch, offering customers better access to all banking services, including ATM services after almost 40 years of limited banking options.

BSP Financial Group Limited (BSP) is excited to announce a new era of banking with the reopening of its newly refurbished Waterfront branch today, Tuesday, 12th November 2024.

BSP Financial Group Ltd (BSP), the leading financial institution in the South Pacific, is proud to be the Anchor Partner for the Commonwealth Business Forum (CBF) at the Commonwealth Heads of Government Meeting (CHOGM) that will be hosted in Apia, Samoa in October, 2024.

BSP Financial Group Limited is pleased to support the 68th Goroka Show again this year with a bronze sponsorship of K20, 000.

BSP Financial Group Ltd (BSP), the Pacific’s leading financial institution, have announced changes to its Leadership team.

The annual Enga Cultural Show is on again this weekend, from Friday 9th to Sunday 11th August, 2024, and BSP Financial Group is excited to be part of this feast of cultural festivities as a Silver sponsor of the 30th Enga Cultural Show

The Sepik river and crocodiles are significant to the people of East Sepik Province thus BSP is pleased to support the Sepik River Crocodile and Arts Festival next week (Monday 5th to Wednesday 7th August, 2024.)

The agricultural sector in PNG is pivotal to our economy, often referred to as the 'engine room' due to its substantial role in driving growth and generating employment opportunities.

“Despite a 40 percent increase in quarterly Bank of PNG FX intervention and healthy foreign reserves, average outstanding Market FX orders remained stable for a third consecutive quarter,” says BSP Group GM Treasury and Markets, Rohan George.

“As of 30th of June 2024, BSP Group has successfully phased out private sector cheques from our banking system, aligning with Bank of PNG’s directive,” says BSP Group CEO Mark Robinson.

Over 300 BSP authorised BSP Cash Agents provide an alternate access point, complementing BSP’s existing network of branches across the country.

The annual cultural festival that celebrate the people of East New Britain – the National Mask & Warwagira Festival is on again and BSP is proud to associate itself with the event as a silver sponsor.

All BSP branches around the country will stop accepting private sector cheques as a means of payments at the close of business on Friday 28th June, 2024.

PNG’s biggest Real Estate Show is on again this week Friday 28th and Saturday 29th June, 2024, and BSP Financial Group is proud to be part of the event as a Diamond sponsor.

The sight of mothers accessing Antenatal Health Care and babies receiving immunisation under a tent outside the Gordons clinic in Port Moresby is now a thing of the past, thanks to BSP Financial Group’s Community Project initiative.

Financial literacy is an important part of BSP Financial Group’s contribution in the communities it operates in.

Foreign exchange (FX) inflows in the PNG market eased in the first quarter of 2024, due to lower Central Bank (BPNG) intervention and exporter inflows.

Investor confidence is affected by law and order, Foreign Exchange shortages and heightened inflation, according to BSP’s Quarter 1 2024 Pacific Economic & Market Insights report.

Inflation is stable but remains elevated and on a slightly upward trajectory across our Pacific Markets.

BSP in partnership with Department of Finance announced the rollout of the Government of PNG (GoPNG) Electronic Receipts for payment of Government Services to improve payment experience, simplify validation of payments to government entities, and enhance oversight of revenue collection by the Department of Finance.

Students of Evedahana Junior High School outside Port Moresby now have a computer lab for their Information Technology classes - a timely assistance from BSP Financial Group Limited’s annual Community Project.

More than 3,800 students of Wardstrip Primary School – one of NCD’s most populous schools have been encouraged to create a bank account and partner with BSP Financial Group for their life goals.

Flexible Learning Students of Divine Word University’s Coronation Campus in Madang now have an additional study facility thanks to BSP Madang Branch’s annual Community Project.

“Porgera and other resource investments are important economic activities and BSP is pleased to return banking services to the mining township,” says BSP Daniel Faunt, Group General Manager Retail.

BSP’s annual Community Projects continue to assist schools and the communities it operates in, to address their sanitation challenges.

Providing a revitalised facility for teachers and students to study stimulates an encouraging learning environment for children,” says BSP Mt Hagen Branch Manager Theresa Pilamp when handing over the completed refurbished administration block to Togoba Secondary School recently.

Students of La Salle Technical Secondary School in NCD are now equipped to be digitally inclusive, thanks to BSP Corporate team who recently came to the school’s assistance.

BSP Financial Group Ltd, joins the celebration of the 2024 International Women’s Day (IWD) to #INSPIREINCLUSION across its workforce in PNG and the Pacific market in which it operates.

BSP Financial Group Limited (BSP) is pleased to announce the bank will continue to support the Hiri Moale Festival, with a K100,000.00 donation to the organisers of Port Moresby’s premier cultural event.

The BSP Financial Group announced a net profit after tax (NPAT) of K890 million and declared a final dividend of K1.06 per share, payable on 22 March 2024, bringing the full year dividend for FY23 to K1.43 per share.

Sam Koim, OBE, Commissioner General of the Internal Revenue Commission (IRC), and Mark Robinson, Group Chief Executive Officer of BSP Financial Group Limited (BSP) are pleased to announce that a settlement of the Supreme Court judicial review of the PNG Government's imposition of the Additional Company Tax has been reached.

In constantly seeking innovative ways to stay ahead, and promoting growth and opportunities, BSP continues to invest in providing opportunities for young and aspiring graduates through its Graduate Development Program (GDP).

Small businesses are an integral part of local economies and communities. While the thriving informal markets is essential for economic growth, they remain the largest underserved market most times.

Foreign Exchange (FX) market turnover in the December quarter rose 21.4%, from the September quarter to K14.5 billion, supported by increased FX intervention (K1.9 billion) from the Central Bank (BPNG).

For the greater part of the year, rising law and order issues and service disruptions muted business confidence, according to BSP Financial Group’s Quarter 4 of 2023 Pacific Economic & Market Insights report.

The country has a lot of upside potential for economic growth and employment with the slate of resource projects and scale of government investment in the near term. However maintaining investor confidence is key to maximising economic benefit from growth.

The vandalism of four (4) BSP Mendi Branch ATMs in Mendi Town will continue to disadvantage the Southern Highlands People.

BSP will continue supporting QueenPads PNG to empower young girls in the rural schools by enabling their access to basic and environmentally friendly sanitary products for their special days.

In assisting nurses and doctors providing quality nursing care, BSP Capital – a Subsidiary Business arm of BSP, delivered 12 new Infusion Pumps to the Port Moresby General Hospital (POMGen).

At the request of the PNG Government, BSP Financial Group Limited (BSP) has agreed to provide Puma a further 90 day extension from the 8th of March, 2024, for the closure of its accounts.

BSP wishes to clarify key facts in response to reports in the newspapers dated Monday 22nd January, 2024, regarding Puma Energy.

The BSP Financial Group Limited (BSP) - People and Culture Team has donated medical items worth close to K30,000 to the Sir Buri Kidu Heart Institute at the Port Moresby General Hospital today (Thursday 18th January, 2024).

It was a joyful moment for the needy children at the Tembari Children’s Care yesterday (Thursday 21st December, 2023) when visiting the BSP Head Office to share their Christmas.

Elizah has transformed her approach to managing her shops' finances by participating in YES Grow, a business development program by BSP Financial Group Limited SME Team and Australian Business Volunteers (ABV). Thanks to this training, she now understands book keeping fundamentals and how to monitor her shop's daily earnings.

In Aligning BSP’s Charity focus on improving the lives of underprivileged children, BSP Financial Group Limited (BSP) has donated K10, 000 to PNG Life Care Inc. in Port Moresby to host its 7th Annual Charity Ball.

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 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.

A partnership support that spans 23 years continues between BSP Financial Group Limited and the Operation Open Heart Program.

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 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’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 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 Financial Group Limited (BSP) joins in commemorating the country’s 48th Independence anniversary this week.

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 Financial Group Limited (BSP) will offer Saturday banking at selected Retail Branches nationwide commencing on Saturday 9th September, 2023.

BSP Financial Group Limited (BSP) is set to begin a significant functionality enhancement rollout on all its EFTPoS and ATM services.

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. 

With a focus on improving staff development and capabilities, BSP remains committed to investing in its greatest asset – its human resources.

BSP’s Financial Literacy program continues in selected schools in partnership with our community partner, NRL Club, Brisbane Broncos.

BSP Financial Group Ltd (BSP) has come on-board to provide vital funds to support under privileged children with no formal education.

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 Financial Group Limited (BSP) is proud to provide K30,000 in sponsorship to the much-loved Enga Cultural Show.

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.

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 Financial Group Ltd (BSP) remains committed as an advocate against family, sexual and gender based violence.

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.

“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 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 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.

BSP Financial Group (BSP) Chairman Robert Bradshaw paid tribute to Sir Kostas Constantinou, who recently passed away.

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.

‘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 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.

“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 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.

“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 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.

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.

“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 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 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 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 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 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 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 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 K1.136 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.

“BSP Financial Group Limited will migrate to the new Core Banking System – Flexcube in April 2023,” says BSP Acting Group CEO Ronesh Dayal.

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.

Foreign exchange turnover growth was driven by both increased BPNG interventions and higher receipts from commodity exports.

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.

“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.

“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.

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.

“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 continues to serve its customers through branch expansions and today, Wednesday 21st December, 2022, soft launched its ninth branch in the National Capital District.

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.

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.

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.