Bank South Pacific (BSP) has completed the acquisition of Westpac’s banking operations in Vanuatu.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The acquisition of the Vanuatu business is in line with BSP’s Pacific based expansion strategy, BSP group CEO Robin Fleming said.

BSP started expanding presence in the region with the purchase of Habib Bank in Fiji in 2006, followed by acquisition of National Bank of Solomon Islands in 2007, and the Colonial Groups of Companies (Banking & Life Businesses) in Fiji in 2009.

In July 2015, BSP acquired Westpac’s Cook Islands, Samoa and Tonga operations, while at the end of October 2015 it bought Westpac’s Solomon Islands operations at the end of October 2015.

BSP group CEO Robin Fleming said: "Further, as a business domiciled in PNG, the largest South Pacific island economy, BSP has developed a strategic interest to find opportunities, build commercial relationships, and grow its presence in the economies of the South Pacific region.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"The acquisition brings respected customers, skilled employees and specialised processes and systems. It positions BSP as a leading Pacific financial services business, maximising future opportunities from PNG’s growing long term trade and economic influence in the region."

Fleming said that the acquisition will lead to minimal disruptions to services in Vanuatu, and minor changes to products and services will be communicated to customers.