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Bank South Pacific / Westpac


 

Bank South Pacific (or BSP) is the largest bank in Papua New Guinea, with 35 branches throughout the country and in 6 countries. BSP currently services over 650,000 business banking customers throughout the Pacific.Number of employees:3,000 full time equivalent Headquarters: Port Moresby, Papua New Guinea Traded as:PoMSOX:BSP

Bank South Pacific Limited (BSP)is the largest bank in Papua New Guinea and one of the largest financial institutions in the South Pacific region. BSP holds more than 52% of Papua New Guinea banking market and is therefore larger than ANZ, Westpac and others combined in PNG. With over 4,000 employees, Bank South Pacific operates a network of over 130 branches and sub branches and 500 ATMs across PNG, Fiji, Cook Islands, Samoa, Solomon Islands, Tonga and Vanuatu. The 89 branches and sub branches are located in PNG, 24 in Fiji, 8 in the Solomon Islands, 4 in Samoa, 4 in Tonga, 2 in Cook Is. and 2 in Vanuatu. BSP was established on May 1, 1957 as a subsidiary of the National Bank of Australasia. In 1995, it was acquired by Papua New Guinea businesses and became PNG private sector owned bank. In 2003, BSP was listed on the Port Moresby Stock Exchange. As of December 31, 2016, Bank South Pacific had total assets of K18.2 billion, loans of K10.1 billion and deposits of K16.9 billion. In 2015-2016, BSP acquired Westpac’s branches in Samoa, Vanuatu, Solomon Islands, Tonga and Cook Islands.
BSP Fiji
BSP acquired the National Bank of Fiji (trading as Colonial National Bank) and Colonial Fiji Life Insurance from Commonwealth Bank of Australia in 2009. In June 2010, BSP launched SMS banking, a first for Fiji and the Pacific. Today, BSP Fiji has a network of 24 branches and sub branches and 114 ATMs across the country.
BSP Solomon Islands
Bank South Pacific is the leading bank in the Solomon Islands with a network of eight branches and 28 ATMs. BSP acquired the National Bank of Solomon Islands Ltd in 2007. The company provides a diverse range of personal and business banking products and services including home and personal loans, business loans, credit cards and savings accounts.
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