PNG bank opens in Suva today

Papua New Guinea bank, Bank South Pacific Limited (BSP), opens in Suva today after obtaining a banking licence from the Reserve Bank of Fiji. BSP takes over the operations of Habib Bank Limited of Pakistan, which was been operating in Fiji since 1991. BSP is the largest bank in PNG and is listed on the Port Moresby Stock Exchange. It has a network of 39 branches across PNG and one overseas branch at Niue. The bank is on an expansion drive in the Pacific. Apart from setting up in Fiji, it also has been in arrangements to acquire the operations of the National Bank of Solomon Islands. The bank is located at the same premises that was used by Habib Bank at Renwick Road in Suva.