PNG bank’s Pacific buying spree in bid to rival majors
Posted on June 30th, 2009 by Life Insurance News
PAPUA New Guinea’s largest financial institution, Bank of South Pacific, is setting up a network to rival that of ANZ and Westpac in the Pacific Islands region, its chief executive Ian Clyne says. Its present bid for Commonwealth Bank of Australia’s Fiji assets marks an intensification of that drive. Mr Clyne said its next targets would be National Bank of Vanuatu and a Samoan bank, either National Bank of Samoa or Samoan Commercial Bank. No figure has yet been formally placed on BSP’s bi
Filed under: Life Insurance News