BSP to help with development of Kerevat

The local and business community in Kerevat, East New Britain Province, have heaped praise on BSP for providing banking services in their community.This is because they do not spend time and money travelling into Rabaul or Kokopo to do banking with the establishment of a BSP rural Branch right at their doorstep. The joy of having banking services in the community was evident as locals celebrated the official launch with song and dance this morning.

BSP has been operating a rural/sub branch in Kerevat for four years now, but officially opened its new Kerevat rural Branch today. East New Britain Governor Leo Dion and Gazelle MP Malakai Tabar who spoke highly of BSP's presence in the community officiated at the launch.

The new building is located within the District Administration grounds. BSP's presence is significant for the local community, as the bank provides a platform to boost economic growth in the district.

For commodity growers, subsistence farms and local SME's the BSP rural Branch is a blessing, as it means more time is spent being productive and less time and money spent on travel/fuel expenses. PMV fare one way is K4, and it takes 40 - 50 minutes to travel in the main town. Locals have opened accounts and access other services provided, including saving money, in the comfort of their community.

Deputy Prime Minister and Regional member for East New Britain Leo Dion said that the opening of the BSP Kerevat was an indication of the a strong relationships built through the private-public business partnership between the government and the BSP.

"The opening of this branch falls in line with the provincial government's goals for all the districts and I pleased that BSP has expanded its operations in East New Britain," Deputy Prime Minister said.

Member for Gazelle and Minister for Higher Education Malakai Tabar who also attended the ceremony said that the sub-branch opening stood as an indicator to economic prosperity in any society.

"We are grateful today for the decision of the management of BSP for this concept of rural banking, and I stand here on behalf of us all to say thank you," Minister Tabar said.

BSP's Deputy General Manager Networking, Peter Boutcher said, "The banking services provided by BSP throughout the country are in line with the National Goals and Directive Principles outlined in our Constitution, which calls for equal opportunity and participation in the economy and services nationwide."

"BSP is proud to have a new rural Branch in Kerevat, and we are optimistic the banking services will now pave the way for people in this district to participate more meaningfully in economic development and over time opens more opportunities for progress and growth," he added.

East New Britain has two main branches in Kokopo and Rabaul, two sub/rural branches, 31 Agents and 1 Active Payment Processor. There are also hundreds of BSP EFTPoS merchants.

Banking is an essential part of nation building as it encourages people to participate in economic development, and due to the rugged terrain, it is sometimes quite expensive to fully operate in some remote areas in PNG, but BSP is proud to be at the heart of it all, providing convenient and safe banking products and services nationwide.

BSP's resolve is for all Papua New Guineans to be able to access banking services, because we want to help our customers grow their savings, grow their business, grow their province and together grow our nation and our future through safe, secure, convenient and cost effective banking.

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