BSP records K216mil profit in third quarter

The National Business

THE Bank South Pacific (BSP) recorded a third quarter net profit of K216 million – a 31.7 per cent (K52 million) increase from the second quarter results, according to chief executive officer Robin Fleming.
Fleming yesterday said the bank had a sound financial performance in difficult economic conditions across the region with the results rebounding in profitability.
Other results included:

  • TOTAL assets of K25.5 billion;
  • TOTAL lending of K13.4 billion;
  • LARGEST branch/sub-branch network with 117;
  • MARKET capitalisation of K5.6 billion;
  • 11 MILLION digital transactions per month; and,
  • 2.5 MILLION active customer accounts
    He said 2020 continued to be a year in which it was more difficult to predict outcomes and financial indicators “which are going to underpin current and future revenues for BSP group”.
    Flemin said all banks’ business divisions grew their profits in the third quarter.

15 comments

  • well you guys seem to be making alot of money. why cant you guys reduce interest on your loans as well? your interest rates is the same as all the financial shark companies

    • this is how the bank makes alot of money from us. the bank wins while the customers loose in this sense. Pls BSP consider and give back to customers whats theirs by means of flexible interest rates.

  • This is very true brothers, BSP seem to be charging a lot from their customers. People were suffering while you make a lot of money. Please can you reduce your interest rate to suit low average earners who live on Dinau basis.

  • BSP, loan interest is very high, ATM withdrawal charges are very high, lines are very long, ino bank ya. Proud lng K216 million. Service delivery is very poor.

  • This is very true BSP Management must consider now and taking into account. Because most low income earners are becoming to suffer from this unnecessary intetest rate charged by Bsp Bank. BSP bank must be flexible in their interest rates. Now every custmoers can witness themselves that is too much unnecessary fees charged on ATM and Efpos machines. Which is not good for the poor Papua New Guineas. I suggest the Bsp Management must consider and start applying flexible interest rate to low income earners.

  • BSP should not overcharge its customers. Also the loan package now being given by the government should cover for equity and collateral thereby allowing all able Papua New Guineans to be given equal chances to start doing business. They cannot just wait, this is their money. Most people fall into a category of having no security in this whole issue so they lose, only the same people who are in business already will benefit. How? This is supposed to be people’s money.

  • Please use the K100m as security and give out the bank’s own money to the SME owners. Do as the PM JM said, don’t change to suit your interest. This is very selfish and not thinking about Papua New Guinea. Leave your lending policy to your other products, but for this people’s money just give to whoever citizen is able to do business. Do more research and find suitable people who can do business properly and become successful but who also are not in possession of security. They have the knowledge and skills to do so, please consider citizens of such calibre. They must be University Graduates!

  • Well, if you don’t want BSP to rip you off, better don’t save your money. At the end, BSP is making profit out of ur money

    A rich man once advice, don’t save your money in the bank cos we rich people will use that money to make profit of it. Robert Koyosaki

  • Bipo mipela peret long putim mani long haus in fear of thieves and fire but Now we fear Banks because of too many deductions and charges.

  • This money is not really a profit or income from sales of their business.it is a money STOLENby bsp for 8million people of this nation in the form of K3.deductions every transactions.

Comments are closed.