BSP hopes to continue service in B’ville

BANK South Pacific chief executive officer Robin Fleming says the bank is committed to providing banking services in the Autonomous Region of Bougainville after its independence.
Fleming told The National that the bank hoped to be invited to apply for a banking license post-independence as it recognised that the application and approval processes that would be at the discretion of the Autonomous Bougainville Government. In the autonoumous region, the bank currently has branches in Buka, Arawa and Buin.
“BSP is committed to continuing to provide banking services to Bougainville on independence,” Fleming said.
“But equally, BSP recognises that application and approval processes for banking upon independence may well be subject to application and licensing requirements that are solely at the discretion of the Autonomous Bougainville Government. BSP hopes that it will be invited to apply for banking licences in the post-independence Bougainville.
“BSP has branches at Buka, Arawa and Buin and as our customers in each of these towns would attest, the demand for services has outgrown our premises in each town.
“We have been identifying a suitable location for a new branch in Arawa to provide a larger branch, and we will also be reviewing options for both Buka and Buin in 2021.”
Fleming said improvements in telecommunications would permit more widespread and broader usage of mobile banking products to reduce the need for cash by customers.
“The economy has grown considerably over the past five years and will continue to do so, hence, BSP’s interest in increasing the size of its branches at Arawa, Buin and Buka.”