Bank South Pacific plan to be ‘biggest regional bank’

Submitted by Narayan24 on Mon, 01/02/2010 - 10:24am

Chief Executive Officer (CEO) Ian Clyne revealed this last week an interview with the Solomon Star in Honiara. Currently BSP has operations in Papua New Guinea (PNG), Solomon Islands, Fiji and Niue.

It is headquartered in Port Moresby and covers 55% of banking services in PNG.

In the Pacific, apart from ANZ and Westpac, BSP is the biggest Pacific operated bank.

“We see ourselves as a Pacific bank and not PNG bank and hope to be the largest Pacific bank to cover all the island nation,” he said.

He said in the long term, expanding to other regional countries is part of the plan.

BSP took over from the National Bank of Solomon Islands (NBSI) in 2006.

And just in December last year it bought off the Colonial Bank of Fiji and now owns 20 branches in that country Mr Clyne will leave today for Fiji to formalise the operations there. In Niue, BSP is the only commercial bank there.

SOURCE: SOLOMON STAR/PACNEWS