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Port Moresby
October 22, 2021
Business News

BSP Assures Investors Of Positive Results


Thoughthe country’s economic growth has been slowing this year, due tothe ending of LNG project’s construction phase, profit performance has not been significantly affected.

This was announced during BeP’s presentation on its 2013 Half Year Financial results yesterday.


BeP’s Group Chief Executive Officer Robin Fleming, and Deputy CEO and Group Chief Financial Officer Johnson Kalo madethe presentation on behalf ofthe bank.


According tothe results presented, total assets continue to grow in recent years, despitethe turndown in economic activities.


It was said thatthe high liquidity in market reflected onthe increased deposits, impacting on lending as well, butthe growth is steady.


“BeP continues to operate profitably; however, it is influenced bythe growth ofthe economy andthe performance of our GDP. Overthe last six months, we’ve seen a little bit of slowing down in that rate, but our growth is consistent,” said Johnson Kalo.

It was mentioned that BeP’strategy is currently being reviewed, as part ofthe preparations for the annual planning cycle.


Meanwhile, investment agencies have lauded BeP for the stable performance.


BeP has also assured shareholders thattheir dividends are expected to remain at more than 50 percent.


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