Bank South Pacific (BSP) celebrated a significant milestone Wednesday, with the launch of its new Business Bank. The Business Bank, launched at the BSP Gordons Commercial Centre in Port Moresby, is a dedicated service designed to support small and medium-sized enterprises (SMEs) across Papua New Guinea. BSP Chief Executive Officer Mark Robinson, in his remarks, emphasised that the launch is central to the company’s broader strategy of modernisation. “This launch this morning is at the heart of our modernising growth strategy as we continue to evolve and strengthen the services we provide to our customers and communities in PNG and across the Pacific,” Robinson said. He added that the initiative is also a demonstration of BSP’s commitment to investing in its own capabilities to better serve PNG’s business community—from local startups to expanding enterprises—going beyond just driving the economy. The BSP Business Banking Service aims to offer more mobile, accessible, and agile support, reaching customers wherever they are doing business, including regional and remote areas where BSP operates. “This is business banking designed for Papua New Guinea—most importantly, designed for growth,” Robinson stated. He also announced BSP’s partnership with Australian Business Volunteers (ABV) to deliver business and financial education workshops nationwide for small business owners. “These workshops equip business owners with practical skills in areas such as cash flow management, business planning, tax basics, and marketing—helping entrepreneurs build stronger, more sustainable businesses,” Robinson explained. Head of BSP Business Bank, Raymond Logona said the newly launched Business Bank of Bank South Pacific (BSP) offers solutions to help small and medium-sized businesses operate and expand. Following the launch of BSP Business Bank—a dedicated business banking service aimed at supporting small and medium-sized enterprises (SMEs) across Papua New Guinea. Logona highlighted that the solutions provided by the Business Bank encompass a range of products and services designed to grow with their customers. “This includes business accounts and cards, tailored lending options, overdrafts, and asset financing. Our offerings also feature EFTPOS, payroll services, online foreign currency and international transfers, as well as secure online and mobile banking features to support our customers.” As part of BSP’s commitment to addressing the distinct business needs of its customers Logona revealed the creation of a dedicated Business Bank Hive. “The Hive brings together specialist product experts who collaborate with our relationship managers to deliver tailored business banking solutions. Our product specialists include digital experts, payment specialists, a leasing specialist, and an FX specialist.” “This specialist team provides our business customers with direct access to expertise that extends beyond traditional banking, ensuring they receive the right advice and support for their specific needs.” According to Logona, BSP has also partnered with Australian Business Volunteers (ABV) to provide support in core business planning, management skills (including financial literacy), compliance and growth readiness, as well as ongoing mentorship—critical for SME customers. Logona, noted that over the past three years, BSP has proudly sponsored 392 customers and businesses nationwide, with tangible positive outcomes. He further added that from 2025 to 2027, BSP will expand this outreach in collaboration with ABV through programs in Port Moresby, Lae, Mt. Hagen, Kokopo, Madang, and other regions. Logona emphasised that the BSP Business Bank model leverages BSP’s extensive reach to connect hundreds of SMEs across the country with the resources they need to grow and succeed.