BSP forced to close branches

SECURITY concerns, mostly related to the General Election 2022 (GE22) have been blamed for the closure of four BSP Financial Group Limited branches in the Highlands and Mamose regions.
According to the bank, Porgera branch in Enga, Koroba hybrid branch in Hela, Chuave sub-branch in Chimbu, and Kabwum and Mutzing sub-branches in Morobe all remain closed.
The operations of BSP Mendi branch in Southern Highlands has also been disrupted in the past week. BSP group chief executive officer Robin Fleming said BSP sub-branches in Koroba, Kabwum, Mutzing and Chuave had closed their doors due to security issues related to GE22 while the Porgera branch was closed last month following tribal fighting in the Porgera valley.
“We closed BSP Chuave sub-branch yesterday after the office complex, which BSP operates from, was ransacked by supporters of losing candidates,” he said.
“We also had to close BSP Mendi branch earlier this week due to election-related unrest.
“Mendi branch is now open for business, however, we are monitoring the security situation there closely.
“Though we regret having to close these branches, especially those in communities where no other banks operate, we cannot guarantee the safety of our customers, staff, and assets.”
BSP Chuave sub-branch is closed indefinitely until the extent of damage is known, as well as the cost to make the sub-branch operational, while the Mendi branch has been re-opened for business.
Fleming said BSP had tried to keep branches open wherever possible during election period and had restricted access during this time to reduce the customers at branches for security reasons.
Porgera branch remains closed and is subject to ongoing security assessments to determine when it will be safe for staff and customers to re-open the branch.
Fleming thanked all BSP staff in the affected areas for their support of, and commitment to customers over this period. “BSP apologises for this inconvenience and encourages customers to use its digital banking platforms, like BSP USSD mobile banking, BSP personal internet banking and BSP online business banking.”