The head of Bank South Pacific (BSP) in Papua New Guinea, Robin Fleming, say the cost of damage to BSP’s branch is SBD$17.3 million.

Mr Fleming says despite the destruction on its property and business, BSP will continue to operate from its other three branches in Honiara.

“Our customers from Ranadi are able to carry out their banking services at any of these branches.

“BSP is still working through the insurance claim with its insurers which include a risk assessment, and following conclusion of that process, a decision will be made as to whether to construct a new branch on the same site or relocate the branch to another site,” Mr Fleming told Post Courier in a recent interview.

Mr Fleming also said that no cash was lost during the fire, as the building is fire rated for six hours or more.

He added that even if cash was destroyed, it would have little impact on the customers funds as they are maintained and protected by the bank by way of non-cash assets.

He says BSP customers in Honiara continue to have access to their deposits without interruption since the fire.

Mr Fleming says BSP also has the full support of CBSI for operational aspects such as cash.


With Post Courier