PNG's Bank South Pacific Buys 50 Percent Of Asset Finance Business In Cambodia

Foothold in Asia part of strategy to grow BSP's business: Chairman

WELLINGTON, New Zealand (Radio New Zealand International, May 30, 2017) – Papua New Guinea's Bank South Pacific has established a presence in Cambodia.

The BSP has entered into a joint venture, buying 50 percent of an asset finance business in Cambodia, which the Post Courier newspaper reports is to be rebranded BSP Finance Cambodia Propriety Limited.

The BSP chairman Sir Kostas Constantinou said the move to Asia is part of the bank's strategy as it looks to further grow its business.

It comes after the bank had completed the acquisition of Westpac Bank's assets in Solomon Islands, Vanuatu, Tonga, the Cook Islands and Samoa, which cost it $US93 million dollars.

Sir Kostas said the BSP is the biggest bank in PNG and the Pacific, but it wants to make a mark in Asia.

Radio New Zealand International
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