Prime Minister Hon. James Marape has congratulated Bank South Pacific Financial Group Limited (BSP) for delivering a net profit after tax of K572 million in the first half of 2025, describing the achievement as “a symbol of Papua New Guinea’s economic resilience” as the country prepares to celebrate 50 years of nationhood.
Prime Minister Marape said BSP’s strong results demonstrate the strength of Papua New Guinea’s financial institutions, the resilience of its economy, and the shared ambition to secure economic independence for the next 50 years.
“As Papua New Guinea turns 50, BSP’s performance reminds us that our journey toward economic sovereignty is on course,” Prime Minister Marape said.
“This is not just a corporate success story — it is a national story. BSP’s investments in modernisation, financial inclusion, and shareholder value reflect the confidence and potential of our country. Together, we are laying the foundations for the next 50 years, where Papua New Guineans are not just participants but leaders in their own economy.”
BSP’s First-Half 2025 Results: Key Highlights
• Strong Profitability: BSP achieved a net profit after tax of K572 million, an increase of 9.8% compared to the first half of 2024.
• Robust Revenue Growth: Group revenue rose 9.8%, supported by a 3.6% increase in net interest income and stronger activity across all markets.
• Empowering Shareholders: An interim dividend of 50 toea per share was declared — an 11.1% rise year-on-year.
• Expanding Financial Access: Gross loans increased 2.1% to K17.6 billion, while customer deposits grew 2.4% to K30.7 billion, reflecting greater banking participation by Papua New Guineans.
• Digital Transformation: Investments in digital banking and a refreshed brand identity are driving customer engagement and modernising services.
• Regional Leadership: BSP remains the largest financier in the South Pacific, with sustained recovery across most regional markets to above pre-pandemic levels.
Economic Independence for the Next 50 Years
Prime Minister Marape said BSP’s success aligns with his government’s PNG 2050 Vision — driving inclusive growth, strengthening financial literacy, and creating opportunities for every Papua New Guinean.
“For 50 years we have relied heavily on resources, but the next 50 years will be defined by economic diversification — from agriculture and tourism to the digital economy,” Prime Minister Marape said.
“BSP’s role as the region’s largest bank is critical to financing this transition. By expanding credit, supporting small-to-medium enterprises, and driving financial inclusion, BSP is helping us empower our people and chart a stronger economic future.”
A Symbol of PNG’s Economic Maturity
As Papua New Guinea marks half a century of independence, BSP’s achievements stand as a symbol of national progress — from a small domestic bank in 1975 to a regional financial powerhouse today, serving customers across seven countries: PNG, Fiji, Solomon Islands, Samoa, Tonga, Cook Islands and Vanuatu
Prime Minister Marape called on other institutions to follow BSP’s example by embracing innovation, investing in people, and aligning with national development goals.