Bank of South Pacific (BSP) will invest more than $600 million across the region over the next several years as part of a major push to modernise its operations, strengthen digital services and support economic growth.
This was announced by the BSP Group CEO Mark Robinson during the Customer Cocktail event, saying that the investment will focus on technology, digital channels, operational resilience, and talent development, describing the programme as central to BSP’s long-term strategy to serve customers better and drive prosperity across Fiji and the South Pacific.
Robinson says the initiative formed part of BSP’s “Modernising for Growth” programme, aimed at improving customer experience while ensuring the bank remains responsive to changing expectations and a rapidly evolving financial landscape.
Robinson says among the changes already being introduced is a concierge application in branches, the first of its kind in the Pacific, which has begun reducing queues and improving service delivery.
He says BSP plans to roll out deposit-taking automated teller machines across the Pacific following successful trials in Papua New Guinea, as well as automated cash counting machines and upgraded EFTPOS terminals to enable faster and more convenient payment experiences, particularly for Fiji’s tourism sector.
He adds the bank’s scale in Fiji enabled it to deliver a wide range of services, noting that BSP remains the country’s largest bank, largest life insurer and second-largest institutional investor.
He says BSP Life marks 150 years of continuous operations in Fiji, a reflection of trust built over generations since the company’s founding as Colonial Mutual Life in 1876.
He says BSP now employs more than 700 people in Fiji and continues to play a significant role in supporting the real economy through lending and investment.
Robinson says the bank’s loan portfolio surpassed $3 billion last year, the largest among banks in Fiji, supporting home ownership, business expansion, and investment in key sectors including tourism, manufacturing, trade, and infrastructure.
BSP Life’s investment portfolio has also grown to more than $1.25 billion, maintaining its position as the country’s second-largest institutional investor.
He says investments in projects of national importance, including tourism developments and aviation partnerships,
demonstrated Fiji’s attractiveness to international investors.
He adds that the insurer paid out more than $110 million in customer benefits over the past year, assisting thousands of families with education, retirement planning, business development and family obligations.
