The prime minister has said that the recent record performance of the BSP Financial Group Limited (BSP) is a direct reflection of the good performance of the country’s economy.

Prime Minister James Marape when welcoming the recent announcement of record financial results by BSP for the 2025 financial year, described the performance as clear and independent confirmation that Papua New Guinea’s economy is growing and economic activity is strengthening.

The BSP Financial Group on 20th February released its financial results for the year ended 31st December 2025, delivering another year of solid profitability underpinned by disciplined execution and a clear focus on long-term value creation.

BSP has announced a statutory net profit after tax of K1.17 billion for FY2025, representing a 13 per cent increase on FY2024.

“This is not just a banking milestone. This is an economic validation,” Prime Minister Marape said.

“When banks grow, it is because businesses are borrowing, trading and investing, households are transacting, and confidence is returning to the economy.”

Prime Minister Marape said BSP’s profit history provides a reliable long-term economic indicator, reflecting key phases of Papua New Guinea’s economic cycle.

He pointed to BSP’s profit performance over the past decade:

• 2014: Approximately K507 million, during the year PNG LNG commenced production and Ok Tedi and Porgera were in full operation.
  
• 2018: Approximately K844 million, reflecting peak investment, construction activity and strong domestic demand.
  
• 2020: Approximately K806 million, during the COVID-19 shock, demonstrating resilience in a global economic downturn.
  
• 2022: Approximately K1 billion, marking a strong post-pandemic recovery.
  
• 2023: Approximately K890 million, reflecting consolidation amid global inflationary pressures.
  
• 2025: K1.17 billion, the highest profit in BSP’s history.
  

“When you place these figures side by side, the trend is undeniable,” the Prime Minister said.

“The growth in recent years is stronger, more consistent and more resilient. Under our government, the recovery curve is steeper and the expansion more sustainable.”

He said critics who deny economic growth must reconcile their claims with the hard-financial data produced by the country’s largest bank.