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Bank South Pacific opens new top of the class commercial centre in the industrial city of Lae

The official opening on Friday was officiated by BSP Board Chairman Kostas Constantinou, OBE, and bank CEO Robin Fleming, witnessed by members of the BSP Board, the Lae business community representatives and members of the media.

The new BSP Lae Commercial Centre which was opened for business last October 24th 2014 creates a unique business banking experience that is not provided anywhere else in Lae. This comprises the Premium Banking Centre and BSP First which delivers a fully functional business banking facility on the ground floor.

BSP Corporate Department and BSP Finance Limited, the bank's newest subsidiary occupy level one. There is also a fully kitted function room on level 3, to be used by BSP as a space for holding special corporate functions, client events and staff training.

The  ground  level  of  the  building  is  customer  focused  and  was  designed  for  operational  to incorporate fully fitted out banking facilities, meeting rooms, offices, store rooms and amenities. There is also ample parking space. Security and safety was a strong focus in the design to providing a secure working environment for BSP customers and staff. Construction of the building commenced in February 2013.

Mr Fleming when addressing guests at the launch said BSP is committed to the growth of Lae, as the second city to Port Moresby and is similarly committed to serving industrial, manufacturing and other businesses operating in Lae.

"Because we are constantly seeking new improvements to banking, we have created this new commercial banking centre in Lae that offers the right environment for business, for our Priority and Corporate customers," Mr Fleming said.

Mr Fleming also announced changes to some key service charges and interest rates.

"In light of the recent introduction of the KATS cheque processing system, BSP will be eliminating the service charges associated with cheque deposits and cheque collections. This decision will provide personal and business customers with significant savings. BSP will also increase the interest rates it pays to Plus Saver customers. The top interest rate for this product is now 2.75% pa and is calculated on a daily balance and paid quarterly," he announced.

Mr Fleming said that as customers save their money for things such as a deposit for their first home, it is important that they earn a good rate of interest. "We are reviewing our Interest rates for personal Term Deposits".

Bank board chairman, Kostas Constantinou, who reiterated the CEO's sentiments, added that BSP has  invested  heavily  in  physical  assets,  information  technology  infrastructure,  systems,  and products, in addition to new and improved channels so the bank can improve productivity and increase its capability to serve customers better.

"In  a  world  where  you  expect  the  best,  now  there's  a  bank  that  delivers  this  in  Lae  and  we encourage businesses to utilise the services provided. We are also investing heavily in our people, in our customer service strategies so we can provide exceptional service, not only to our corporate customers, but our institutional customers well," he said.

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