Bank expands investment with more branches in provinces

By GLORIA BAUAI
BANK South Pacific Financial Group Ltd (BSP) is opening new branches in Hela, New Ireland, East New Britain and Morobe, according to outgoing chief executive Robin Fleming.
BSP now has 85 branches around the country.
“Investment in our branch network this year included a new branch in Namatanai, New Ireland, a sub-branch in Koroba, Hela, an upgraded hybrid branch in Palmalmal, East New Britain and a new one in Eriku, Morobe,” he said.
“BSP will also open a new lending centre in Boroko, National Capital District in December.
“Anyone who wants to get personalised housing loans for example can go to that centre. This would take some pressure off our other branches in Port Moresby, so they can focus more on traditional banking services.”
He said the bank held a groundbreaking ceremony for a second branch at Dobel, Mt Hagen, Western Highlands, and an upgraded branch in Telefomin, Sandaun.
“BSP’s significant investment into delivering banking services reflects the group’s continued desire to deliver banking services to the communities in which it operates,” he said.
“This is despite numerous challenges, and in spite of the imposition of the inequitable BSP tax of K190 million, BSP will continue to deliver on its vision for the people of PNG.
“BSP is the only bank prepared, willing and capable of providing banking service to the people of PNG.
“We do get criticism mostly on our fees, queues and not enough branches.
“Our expansion such as the Eriku branch is a testament that BSP does everything to provide and we are committed to continue.”