BSP H1 2026 slides: profit up 8.4% as digital banking surges
The Bank of Papua New Guinea (BSP) reported a 8.4% increase in net profit for the first half of 2026, reaching K620 million (A$204 million). The bank's revenue grew by 17.7% to K1,885 million, maintaining its status as the market leader across seven South Pacific countries. BSP's shares rose 0.25% to $7.96 following the announcement, trading near the middle of its 52-week range of $6.79 to $9.50.
The bank offers a dividend yield of 7.72% and has a price-to-earnings ratio of 10.43. BSP's digital banking adoption accelerated, with mobile banking transactions increasing 31.6% year-over-year and internet banking transactions growing even faster at 31.9%. The bank's Modernising for Growth program, aimed at enhancing customer experience and operational efficiency, received K138 million in investments during the period.
BSP's balance sheet expanded by 16.2% to K45.2 billion (A$15.0 billion), primarily due to deposit expansion of 17.8% to K36.2 billion.
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