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Bank South Pacific (BSP) last Friday announced its newest subsidiary BSP Finance (Solomon Islands) Limited (BSPF.)
Regulatory approvals by the Central Bank of Solomon Islands to establish BSP Finance operations in Solomon Islands were granted on April 20, 2017.
The launch of BSP Finance (Solomon Islands) Limited comes as the bank marks its 10th anniversary of operations in this island state.
Group chairman Sir Kostas Constantinou said BSP Finance will compliment the bank in the areas where “we see opportunities currently available to support our existing and potential new clients.”
The company is located at Room No.1F Ace Complex Kukum Highway, East Honiara and will officially open for business on Monday 18 September 2017.
It will offer businesses in Solomon Islands a new and better alternative for their asset finance needs. The establishment of this entity will enable BSP to extend its financial and lending activities into broader sectors of the local economy throughout Solomon Islands and the South Pacific region.
BSP Finance will be in a position to engage the assistance of the bank’s existing asset finance team to assist with restructuring, refinancing and offer new and innovative ways to improve its customer’s asset finance business for more complex transactions.
BSP Finance offer competitive interest rates, fast approvals and fast turn-around times which BSP has identified is essential in the Asset Finance market and critical to clients’ needs.
BSP Finance Ltd now operates in Fiji, Papua New Guinea, Cambodia and Solomon Islands.
SOURCE: POST COURIER/PACNEWS
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