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BSP Annual Report 2014 2XU9DOXHV

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BSP Annual Report 2014 2XU9DOXHV BANK OF SOUTH PACIFIC LIMITED Chairman’s Report................................................................................... 4 A Brief History of Bank South Pacific....................................................... 7 Board of Directors................................................................................. 8 Chief Executive Officer’s Report...........................................................11 2014 Strategic Business Unit Review.....................................................14 Corporate Governance ..................................................................... 24 Historical Summary 2014.....................................................................35 Contributions by BSP to PNG.................................................................36 Overseas Branches and Subsidiaries....................................................37 CONSOLIDATED FINANCIAL STATEMENTS..................................................42 'LUHFWRUV·5HSRUW43 6WDWHPHQWE\WKH'LUHFWRUV45 6WDWHPHQWRI&RPSUHKHQVLYH,QFRPH46 6WDWHPHQWRI)LQDQFLDO3RVLWLRQ 47 6WDWHPHQWRI&KDQJHVLQ6KDUHKROGHUV·(TXLW\48 6WDWHPHQWRI&DVK)ORZ49 1RWHVWRWKH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV50 Independent Audit Report...................................................................87 Shareholder Information......................................................................88 Directors’ Information...........................................................................93 Management Team and Directories....................................................95 Corporate Social Responsibilities.......................................................102 2XU9LVLRQ 7REHWKHOHDGLQJILQDQFLDOVHUYLFHVSURYLGHU LQRXUFKRVHQPDUNHWVKHOSLQJFXVWRPHUV VWDIIVKDUHKROGHUVDQGFRPPXQLWLHVSURVSHU .H\IHDWXUHVRI%636WUDWHJ\ $IRFXVRQVDOHVDQGVHUYLFHV 2SHUDWLRQH[FHOOHQFH +LJKSHUIRUPLQJWHDPV 3URILWDEOHJURZWK 2 BSP Annual Report 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