Chairman of Bank of South Pacific, Sir Kostas Constantinou, has announced that the bank has entered into a Memorandum of Understanding (MOU) with Kumul Consolidated Holdings.
The objective of the MOU is to establish a joint-venture to operate Pacific MMI Limited in PNG.
Sir Kostas said the MOU also allows for the expansion of the joint-venture activities into Fiji through BSP’s established insurance subsidiary in Fiji.
He said this move was in line with the group’s geographic and business diversification strategy.
