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Bank South Pacific completion early next year

By Moffat Mamu HONIARA, Solomon Islands (Solomon Star, Aug. 24, 2010) - Work on Bank South Pacific’s (BSP) new office complex near the Heritage Park Hotel in Honiara, Solomon Islands has now reached the third floor.

And as of last week, builders were working on putting up the roof.

The three story complex is one of the projects BSP had undertaken to expand its services in the country.

The new complex will act as the main administration house for the bank.

The bank, which has its headquarters in Port Moresby, Papua New Guinea (PNG), has operations in Fiji and Niue.

Work on the project started early this year and is expected to be completed early next year for full commercial service.

[PIR editor’s note: A report in March accuses the Bank South Pacific for ripping off customers in Papua New Guinea by charging unnecessary fees. "Port Moresby North East MP Andrew Mald who indicated that he was raising the issue on behalf of the business community asked why the Bank of South Pacific was imposing a 2 percent cash handling fee for all its customers dealing with more than 5,000 kina [US$1,830]. See story.]

BSP acquired the former National Bank of Solomon Islands (NBSI) in 2006, from the government which it is operating as a branch.

BSP is PNG’s largest bank, with 35 branches throughout the country and operating in four regional countries.

BSP currently services over 650,000 business banking customers throughout the Pacific.

BSP hopes to be the largest regional bank in the Pacific apart from Australia and New Zealand Banking (ANZ) and Westpac.

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