Bank’s buyback to continue

 BANK South Pacific has announced its buyback programme will continue.

Group chairman Sir Kostas Constantinou (pictured) in an announcement released last Friday said the bank’s board of directors had resolved to vary the terms of the BSP share buyback programme. 

“The buyback programme will continue BSP’s capital management strategy to achieve a balance between returning capital, retaining sufficient flexibility to invest capital, pursuing growth options and maintaining strong credit metrics,” he said. “BSP intends to enter the market from time to time to purchase shares pursuant to the buyback. 

“Under the buy back, shareholders are invited to sell up to a maximum of 5000 BSP shares of each registered shareholding. 

“BSP will pay any brokerage on shares bought back. 

“Selling shareholders will not pay any brokerage.”