Media Statement

BSP has a long banking history with the people of Papua New Guinea dating back to 1957.

With 2.6 million customers, BSP conducts in excess of 11 million transactions a month, which equates to more than 130 million transactions annually.

We also actively participate in corporate social responsibility programs.  In fact, since 2009, BSP has invested K14 million in the communities in which we live. For the remainder of 2023, we have committed to financially supporting another 54 community projects involving schools, hospitals, and health centres/clinics across PNG.

Fact checking

BSP would also like to clarify some facts that have appeared in both mainstream and social media. 

• CASA debits are customer transactions that a customer has completed, which can be disputed and refunded if determined to be not genuine. Customers’ full bank statements carry the details of the transactions completed. These are not fees, charges or interest charged by the bank, but legitimate transactions undertaken by customers.
• Per our usual practice, BSP will reverse interest and fees associated with a debit that is determined to be inaccurate. As we communicated earlier, some customers experienced their accounts being debited much later than usual for their debit card transactions. We apologize for this and the inconvenience this may have caused.
• Telegraphic Transfers, cheques and payroll are being processed as usual with minimal exceptions.
• BSP website highlights our service status 24/7.

Technical issues

BSP has encountered some technical difficulties since implementing our new IT core banking system in April this year.

This project was one of the largest of its kind in the Pacific region.  It is not uncommon to experience system issues when implementing new hardware and software, however, we do acknowledge we have had more issues than we expected.

To our customers, we are sorry for this, and are committed to providing you with the ease of banking service you need to carry out your daily banking needs.

BSP has long prided itself on customer service and we acknowledge that this standard is not at the level you deserve.  

We are working 24/7 with our global IT vendors, including Oracle, to provide a reliable banking experience.

Lastly, we thank every customer of BSP for their continued support and loyalty. It is greatly appreciated, and we look forward to assisting you in your daily banking requirements.