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Asia

BSP Financial Group Says Investigation Confirms No Unauthorized Access to Production Systems

BSP Financial Group (ASX:BFL) said an investigation into the unauthorized third-party access to its non-production test environment, identified on May 26, has confirmed there is no evidence of unauthorized access to its production systems or customer accounts, according to a Thursday Australian bourse filing.The company said customer funds remain secure and all banking services continue to operate as normal, with the investigation confirming that a portion of the test environment dataset was taken by the third party.BSP said it has no reason to believe the data taken will become available in the public domain, though it is monitoring closely for any such activity and has engaged with relevant regulators on the matter.

ASX:BFL
Asia

BSP Financial Group Investigating Unauthorized Third-Party Access to Back Office Test Environment

BSP Financial Group (ASX:BFL) identified unauthorized third-party access to its back-office non-customer-facing test environment for various systems, and it is working with external cybersecurity experts to respond to and investigate the incident, according to a Tuesday Australian bourse filing.It completed the testing of customer-facing services in the production environment and found no residual threats. It does not believe there is any ongoing risk beyond the test environment.Upon detecting the incident, the firm took containment action as a precautionary measure, disabling externally facing internet services, which affected a number of its services. This included significant disruption to internet banking across the group, excluding Fiji, and agency banking in Papua New Guinea.

ASX:BFL
Asia

BSP Financial Group's Unaudited Net Profit Jumps in March Quarter

BSP Financial Group's (ASX:BFL) unaudited net profit after tax for the first quarter came in at 278 million Papua New Guinean Kina, up nearly 15% from the 243 million Papua New Guinean Kina reported in the prior-year quarter, according to a Wednesday Australian bourse filing.Revenue rose nearly 19% to 900 million Papua New Guinea Kina from 760 million Papua New Guinea Kina year-over-year, while net interest income climbed almost 16%.Its capital adequacy ratio during the March quarter was around 24%, down 50 basis points year-over-year, but above regulatory requirements.It is approaching peak expenditure for the "Modernizing for Growth" program during 2026 and 2027, after which it expects its cost-to-income ratio to normalise within the 42% to 45% target range, its Chief Executive Mark Robinson said. The ratio was 45% in the first quarter.

ASX:BFL
Asia

BSP Financial Group Appoints Group CIO

BSP Financial Group (ASX:BFL) has appointed Ray Naicker as group chief information officer, subject to regulatory approval, with his start date expected in the third quarter, according to a Monday filing with the Australian bourse.Naicker most recently held the position of group CIO at Nedbank Group, per the filing.Naicker will succeed Richard Nicholls, who will move to a new role leading the implementation of the company's new core banking platform for its Pacific markets, the filing added.

ASX:BFL

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