Ritika Pratap 
The BSP Group has converted its Fiji branch operations to a wholly owned subsidiary, BSP Financial Group (Fiji) Pte Limited, with effect from January 1st.
Group Chair, Robert Bradshaw says in line with recent global corporate financial structure trends and to gain operational efficiencies, BSP Group re-solved to convert to a subsidiary structure in Fiji.
Bradshaw says the vesting of BSP Bank’s Fiji business in a Fiji company affirms the BSP Group’s commitment to Fiji.
He stresses that BSP Bank remains steadfast in its mission to advance financial inclusion and to offer exemplary customer service throughout Fiji.
This reorganisation Bradshaw says was given effect through the BSP Fiji Act 2024, which was enacted by Parliament on December 5th after an ex-tensive stakeholder consultation.
Group Chief Executive, Mark Robinson says this is the most preferred option to ensure minimum disruption for depositors, customers, employees and other stakeholders.
Robinson says this change does not require BSP Bank customers in Fiji to take any additional steps to continue their existing relationships.
He states that it simply changes the legal entity with whom they will deal with from January 1st.
BSP already operates in Samoa, Tonga and Vanuatu as subsidiaries of the parent, BSP Financial Group Limited.
