National Superannuation Fund (Nasfund) has congratulated Bank South Pacific Group on its’ 2021 performance.
The 2021 Full Year Results, announced to the market this week, includes a Net Profit After Tax of K1.075 billion, and a dividend payment of K1.34 per share.
Nasfund owns 9.7% of the largest and fastest-growing bank in the Pacific Region.
Commenting on these results, Nasfund Chairman Charles Vee commended BSP Chairman Sir Kostas Constantinou & the Board, Group CEO Robin Fleming, Management and Staff for delivering sterling results for the 2021 year, in a challenging economic environment.
“As one of the top 5 shareholders of the Bank, Nasfund is pleased with the achievements of this investment, and looks forward to continued positive returns.
In the last 5 years, the Fund has received K275million in dividends from BSP, representing on average 14.78% of the Fund’s cash income. BSP continues to be Nasfund’s best performing investment in terms of yield (dividend) and capital value.
These results continue to contribute significantly to Nasfund’s income stream and profitability.
As a major shareholder, we are pleased with this performance for the 2021 Financial Year.
These results auger well for the Fund, as some of these earnings will be passed on to our members, when the Fund announces our interest crediting rate to members in the coming weeks.
We remain committed to supporting BSP in its role in providing efficient banking services to its customers, the majority of which are also our members.”