Bank South Pacific Limited opened our doors in 1957 in Port Moresby as a branch of the National Bank of Australasia Limited.
In 1995 a consortium of Papua New Guinea businesses acquired the bank creating the first and only PNG private sector owned bank.
Bank South Pacific purchased the State Owned - Papua New Guinea Banking Corporation (PNGBC - formerly CBA PNG) in 2001 creating the largest Bank in PNG. Other acquisitions followed: Habib Bank in Fiji in 2006, National Bank of Solomon Islands 2007, Colonial Groups of Companies (Banking & Life Businesses) in Fiji in 2010.
Bank South Pacific rebranded to become "BSP" in 2008. Our shareholders include major PNG Institutions - IPBC, Nasfund, Nambawan Super, Petroleum Resources Kutubu, Credit Corporation, MVIL, PNG Teachers Savings & Loan, Comrade Trustees, and the International Finance Corporate (IFC).
- Awarded the "Best Bank Led Mobile Money Programme" in the World. World Connected Forum Awards, Dubai, November 2012. Sponsored by MasterCard Worldwide.
- 2012 Net Profit after tax increased over 14% to K407.7m and assets also grow 14% to K13.3b - a values equivalent to approximately 1/3 of PNG's GDP estimate.
- 1 Million active Retail Accounts in PNG, 200,000 in Fiji and 80,000 in Solomon Islands.
- Over 70 million transactions processed through all electronic and mobile phone channels in 2012.
BSP has been internationally recognised for its underlying liquidity and capital strength, including "The Banker" 2012 Top 1000 Banks, ranked:
- #7 Highest Mover Asia Pacific region
- #4 Profit on Average Capital
- #3 Top 5 Returns on Capital in the Asia Pacific.