BSP to evaluate possible markets

By MARK HAIHIUE
THE Bank of South Pacific Group aims to expand into the Southeast Asian Market to countries similar to PNG, and “play their strengths” in providing for the rural unbanked.
BSP Group chief executive officer Robin Fleming (pictured) told The National that the bank was in the process of evaluating possible markets for further expansion.
He was responding to a question on whether BSP had considered dual listing on the Singapore Stock Exchange.
He told The National that a listing in Singapore was scrapped due to delays and that prospects for a dual listing in Australia was “unlikely”.
“Singapore had taken a bit longer than we anticipated,” he said.
“Therefore we considered Australia and at the moment it is unlikely that there will be a larger secondary transaction in Australia. But we are still considering all options.
“Cambodia is the first one. We have been operating there already with our joint venture partner.
“Now we are looking at business cases to see where there is some economically and profitably route feasible to move outside of Cambodia to Laos and Myanmar.
“We only just completed the settlement in Cambodia on May 2.
“We are looking at countries that are similar to Papua New Guinea.
“That’s one of the key factors that the board has looked at.”