Bank of South Pacific (BSP) is proud to open this sub-branch in Kikori District of Gulf Province. This is a historic occasion as this is the first time a bank has been set up in this remote area. We are confident that banking services will now pave the way for people in this district to participate in economic development.
The banking services provided by BSP throughout Papua New Guinea are in line with the National Goals and Directive Principles outlined in our Constitution, which calls for equal opportunity and participation in the economy and services nationwide.
BSP has played a significant role in delivering banking services in the spirit of these National Goals and 38 years on, from Teleformin in Sandaun Province to Buin in South Bougainville, along the Okuk (Highlands) Highway from Lae to Komo, Pangia and Porgera, in coastal towns and villages, and in the islands, BSP is providing banking services to over 1.2 million Papua New Guineans.
Banking is an essential part of nation building as it encourages people to participate in economic development and BSP is proud to be at the heart of it all, by providing convenient and safe banking products and services nationwide.
By having access to basic banking services, people can access their money, access a growing range of goods and services and also save money for future use. Much of these financial activities can be undertaken electronically and increasingly with less dependence on cash.
We are now proud to return to the Gulf Province. Today in Kikori and shortly in Kerema. We already have Agent services in Ihu, Wabo and Baimuru.
The Gulf Province is geologically blessed as an exciting oil and gas prospect with Elk/Antelope, and Tricereatops illustrating the substantial potential in this province. In the years ahead, the province is set to be a major economic hub and banking services will provide the foundations for economic activities to take place.
Many globally significant natural resource projects are based in the remotely located provinces of PNG. In all cases, BSP is present either in the form of work site ATM’s, landowner/ community credit, town branches, staff banking, rural branches, EFTPoS for local businesses, corporate banking for suppliers and much more. In most cases we are the only bank present. For Kikori, BSP’s presence means people no longer have to travel many grueling hours by road to Moro in the neighbouring Southern Highlands Province or over rough seas to Kerema, then on the back of PMVs to Port Moresby just to do banking, saving time and money. The absence of a bank has had an impact on the economic development of the province because economic activities declined, businesses had setbacks, our public servants suffered and this had great impact on the performance of public servants to deliver services to the 200,000 people of Gulf Province.
For our public servants and those in Kerema, the cost of travelling to Port Moresby is K100 one way, which is unbearable. This will soon change; public servants will remain in town and focus on service delivery because they will soon have a bank in Kerema.
BSP’s resolve is for all Papua New Guineans to be able to access banking services, because we want to help our customers grow their saving, grow their business, grow their province and together grow our nation and our future through safe, secure, convenient and cost effective banking.
BSP is indeed helping PNG Grow and we are truly proud of what we do.
Robin Fleming
CEO BSP Bank