BSP third quarter profit increases by 15%

Bank South Pacific Financial Group recorded a 15 percent rise in its revenue earnings for this quarter compared to the same period last year.

BSP CEO Mark Robinson says the bank had another strong quarter, earning K860 million in revenue for the third quarter, a 15% increase from the same period last year.

He said the result shows BSP’s strength and steady progress under its Modernizing for Growth Program, which focuses on improving technology, staff development, and services to prepare the bank for the future.

The bank reported a solid third quarter, with unaudited net profit after tax rising 22 percent to K284 million.

Mr Robinson said the growth was driven by strong performance in foreign exchange, fees, and lending, supported by the bank’s high-quality loan portfolio.

He said BSP’s capital position remains strong, with a capital adequacy ratio of 26 percent, well above the required level.

Mr Robinson added that BSP is working towards its goal of becoming the South Pacific’s international bank, while continuing to create long term value for shareholders and supporting communities across the region.

“I would like to thank our customers, staff, and shareholders for their ongoing support,” he said.

The BSP Third Quarter 2025 Trading Update to the PNG National Stock Market showed that the operating income rose 15%, banking on the back of 13% growth in net interest income, 24% growth in foreign currency income, and 12% increase in fee income.