Bank South Pacific (BSP) has completed the acquisition of Westpac’s Solomon Islands operations, after securing relevant statutory, regulatory and third party approvals in Solomon Islands.
BSP group CEO Robin Fleming said the latest acquisition is consistent with BSP’s Pacific based expansion strategy.
BSP started expanding its footprint in the region since 2006 when it bought the Habib Bank in Fiji, National Bank of Solomon Islands in 2007 and the Colonial Groups of Companies (banking and life businesses) in Fiji in 2009.
In July 2015, BSP had purchased Westpac’s Cook Islands, Samoa as well as Tonga businesses.
"Our expansion into Solomon Island reinforces our vision to become the preeminent bank in PNG and the South Pacific and we are 100% committed to providing flexible, convenient everyday banking solutions for all our clients," Fleming remarked.
BSP does not plan to make any disruptive changes following the acquisition, Fleming added.
BSP currently operates with seven branches, 40 Agents, as well as 19 ATMs across the Solomon Islands.