BSP staff share their journey

IN 2002, the Government announced plans to transfer the operations of the PNG Banking Corporation (PNGBC) to the successful bidder, Bank South Pacific Ltd (BSP), now known as BSP Financial Group Ltd (BSP).
The announcement caused some apprehension for PNGBC staff who wondered if there would be job cuts or redundancies, and what the structure of the new organisation would be.
Although the Government issued statements reassuring the public and the staff that no jobs would be lost, and that it would make the banks stronger, the staff remained unconvinced.
Now 20 years on, BSP is a large commercial bank in PNG, the Pacific, and with two branches in the South East Asia.
BSP has more than 3,000 staff in PNG.
There are 4,600 altogether in the group.
Some of the 366 who were there during the merger on April 9, 2002, and are still employees of the bank today shared their experiences.
Lucy Darius, a customer officer at the BSP Kavieng Branch who had spent 25 years with BSP, told of the mixed feelings among staff at that time.
“If anyone ever ask me: What has been a memorable experience when working with the bank?
“I would simply say: The merger.

“The merger of PNGBC and BSP in 2002 was a very intense (experience) in my banking career.”
Lucy said while many of them were unsure of what the merger would bring, with a few quitting their jobs, she decided to stay with BSP.
“Today, I never regret my decision to stay on and be part of this essential change,” she said.
“The merger has brought vital changes to the banking system in PNG and my career experience.”
BSP Popondetta deputy branch manager Maudy Ruruga has spent 40 years with the bank.
“I remember how the talks about the merger hit the branches and many of us were concerned of what BSP would bring,” Maudy said.
“However, after the merger, while many of us had difficulties adapting to the changes, (we) soon realised it was for the better.
“Today, things have changed rapidly, not just the name change but working environment.
“And I am happy I survived the change and built my career.”
Janet Kauga, a senior AML analyst, said: “Adapting to changes was a challenge.

“But looking back, banking today is at our fingertips. I appreciate BSP for leading the way in making huge changes in the banking environment.”
BSP Kundiawa deputy branch manager Kevin Pipite tells of the first automated telling machine (ATM) installed in Mt Hagen in 1996.
“It was the beginning of the digital banking era,” he said.
“Today, banking has become more and more efficient with the use of technology.”
Over the past 20 years, the BSP group now has total assets in excess of K30.4 billion, 118 branches and sub-branches, and more than three million customer accounts.