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Port Moresby
February 24, 2020
Business Finance

BSP Half Year Results: Operating Profit After Tax of K434.9 million


Despite continued subdued economic environments in its operations across the Pacific, Bank South Pacific has continued to record positive growth, with the bank announcing its half year results this week.

In a statement released to the market on Wednesday, BSP Chairman Sir Kostas Constantinou announced a Consolidated Operating profit after tax of K434.9 million– a result up 3.9 percent from 2018 figures.

According to Sir Kostas, this has largely been on the back of growth across the bank’s loan book in the first six months.

Revenue growth from interest income streams, particularly from loans & advances, has been realized through a growth of 4.2 percent.

During the same period, operating expenses have decreased by K22.5 million.

The half results have allowed for an interim dividend payment of Thirty-Eight Toea-per-share, which will be paid to shareholders on the 18th of October this year.


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