Nabilah S
BSP Financial Group Limited (BSP) has announced a record K1 billion statutory profit for FY24, reflecting a 17% increase from the previous year.
Group CEO Mark Robinson attributed this strong financial performance to higher transaction volumes and increased revenue across BSP’s businesses. However, the bank also saw a K254 million rise in operating expenses, driven by investments in technology and modernization.
BSP’s pre-tax profit for FY24 reached K1.8 billion, marking an 18% growth from FY23. The bank declared a final dividend of K1.21 per share, payable on 21 March 2025, bringing the total FY24 dividend to K1.66 per share, an increase of 16%.
BSP maintained a return on equity of 23.3% and a capital adequacy ratio exceeding the 12% minimum requirement set by the Bank of Papua New Guinea (BPNG).
Robinson reaffirmed the bank’s four-year investment strategy, emphasizing BSP’s commitment to enhancing operations and strengthening its position as the South Pacific’s leading international bank.
