Nasfund officer hails BSP’s performance

THE National Superannuation Fund (Nasfund) joint chief investment officer (JCIO) Judah Waffi has congratulated Bank South Pacific (BSP) on its 2020 full year financial results.
Waffi said this yesterday after BSP announced its results which were better than expected.
“I’d like to congratulate the board and management of BSP for giving us better than expected results,” he said.
“This time last year, the onset of the Covid-19 was already on us and the outlook was not that bright and I think you’ve (BSP) has done pretty well to manage this situation.
“Being the people’s bank, you’ve gone out of your way to accommodate many of the customers and we can see that.
“We’ve (Nasfund) talked to a couple of our investee companies and the treatment they’ve had from other banks is what comes from BSP. And that comes down to their performances as well and as a superfund, that reflects on our overall crediting rate back to our members.”
BSP has a number of predominantly Papua New Guinean shareholders including Nasfund, Kumul Consolidated Holdings Ltd, Nambawan Super, Comrade Trustee Services Ltd, Petroleum Resources Kutubu, Credit Corporation, Motor Vehicle Insurance Limited, PNG Teachers Savings & Loans and others.