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Criminal Justice Inspection NI Report Published

BSP responds to Central Bank’s financial analysis

Jul 27, 2021 – 12.19pm Save Share Papua New Guinea’s biggest lender, Bank of South Pacific, defied market orthodoxy in January when its chief executive, Robin Fleming, argued forcefully against Westpac’s proposed $420 million sale of its operations in the country to rival lender Kina Securities. Bank of South Pacific CEO Robin Fleming.  Convention would hold that an acquisition aimed at reducing PNG’s oligopoly of three banks to two would benefit BSP – and its lenders – as the dominant lender in the Pacific country. Indeed, an Australian Treasury paper by form...

Bank of South Pacific chairman breaches tenure limits Jul 22, 2021 – 10.17am Save Share The ASX-listed BSP Financial Group, the largest bank in the Pacific, is in danger of losing its chairman just weeks after Papua New Guinea’s financial crime agency demanded the resignation of its chief executive over breaches of anti-money laundering laws. The lender, which trades as Bank of South Pacific and has a market value of $2.3 billion, has breached PNG’s prudential standards by allowing its chairman, Kostas Constantinou, to serve in the role for more than six consecutive years. BSP ...

Top BSP Financial Executives Face Removal The largest lender in the Pacific, Bank South Pacific (BSP) Financial Group, has been ordered to remove senior managers. It follows breaches of anti-money laundering laws in Papua New Guinea, by australian financial review 2021-07-12 The largest lender in the Pacific, Bank South Pacific (BSP) Financial Group, has been ordered to remove senior manager...