Publish date/time: 25/06/2009 [16:56]
Commonwealth Bank of
Bank of South Pacific has approached Commonwealth Bank regarding its regional expansion goals and therefore its interest in acquiring National Bank of
A consequence of these discussions is that Bank of South Pacific has made an indicative non-binding offer and requested a period of exclusive due diligence.
It has been confirmed that Commonwealth Bank Board of Directors in
Bank of South Pacific is PNG's largest retail and commercial bank with 35 branches. It also has regional representation in
BSP currently holds in excess of 50 percent of market share in both deposits and loans in PNG and as at 31st December last year held total assets of 3.2 billion Australian dollars.