Exclusive
Bank of South Pacific chairman breaches tenure limits
Angus GriggNational affairs correspondent
The ASX-listed BSP Financial Group, the largest bank in the Pacific, is in danger of losing its chairman just weeks after Papua New Guinea’s financial crime agency demanded the resignation of its chief executive over breaches of anti-money laundering laws.
The lender, which trades as Bank of South Pacific and has a market value of $2.3 billion, has breached PNG’s prudential standards by allowing its chairman, Kostas Constantinou, to serve in the role for more than six consecutive years.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Financial services
Fetching latest articles