BSP lost K7.5mil in SI unrest

By PETER ESILA
ONE of Bank South Pacific Financial Group Ltd’s (BSP) four branches in Honiara, Solomon Islands was destroyed by fire on Thursday during the civil disturbance in Honiara, chief executive officer Robin Fleming says.
Fleming said the cost of the damage to the Ranandi Branch was K7.5 million. BSP had also lost three automatic teller machines as a result of the riots.
“All of BSP staff in Honiara are safe and BSP has three other major branches in Honiara, being Point Cruz, Honiara Central and Heritage Park head office,” he said.
BSP Solomon Islands country manager Sandra Fore said the bank did not open its branches on Friday due to crowd build-up on the streets.
“BSP has insurance cover for its assets that have been destroyed,” he said.
“Once the law and order situation has stabilised our focus will move to business continuity and resumption of business operations and support of customers whose businesses have been destroyed or disrupted.
“There has been no further damage to BSP properties on Friday, but businesses did not open due to ongoing tension.
“Australian Federal Police, Australian Defence Force and PNG Police and Correctional Service are on the ground to assist with restoration of law and order.”
He said all BSP branches will be opened today.
“There are no issues with cash and BSP has full support of Central Bank of Solomon Islands for operational aspects such as cash.”