BSP Bank’s capital position remains strong – Chairman

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BANK of South Pacific’s capital positions remains strong and exceeds Bank of Papua New Guinea and other Pacific regulatory requirements, says bank’s board chairman Sir Kostas Constantinou.

Sir Kostassaid the system liquidity in every country that BSP operated in remained strong.

“Continuing to review and update our business continuity plans to ensure that BSP has the capability to continue to maintain its essential services should conditions change. Every country is also doing similar work with the support of our head office in Port Moresby. Our plans will continue to be re-assessed and evaluated,” he said.

“Giving regard to the highly uncertain environment we are currently operating in, the Board will not provide any further COVID-19 earnings impact updates until its effects on our business become more well-defined.”

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