Bank of South Pacific chairman breaches tenure limits
Jul 22, 2021 â 10.17am
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The ASX-listed BSP Financial Group, the largest bank in the Pacific, is in danger of losing its chairman just weeks after Papua New Guineaâs 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 PNGâs prudential standards by allowing its chairman, Kostas Constantinou, to serve in the role for more than six consecutive years.
BSP chairman Kostas Constantinou has breached term limits for a PNG financial institution.Â
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