BSP Financial Group Limited (ASX:BFL) Reports Strong 2024 Performance and Increases Dividend
Financial Performance
BSP Financial Group Limited reported a statutory net profit after tax of K1.038 billion for 2024, a 17% increase from the previous year. Total operating income rose by 8% to K3.0 billion, with net interest income up by 7% and FX income increasing by 22%. The company also achieved a balance sheet total of K37.1 billion and a capital adequacy ratio of 26.2%.
Dividend Declaration
BSP declared a total dividend of K1.66 per share, marking a 16% increase from the prior year. Over K776 million was returned to shareholders, representing a 75% payout ratio. The company has delivered a compound annual return to shareholders of 16% over the past decade.
Modernising for Growth
The company continued its Modernising for Growth strategy, launching initiatives such as the Wantok Wallet, Business Bank, and Cash Optimisation. Digital transactions grew by 20%, and BSP invested in new ATMs and EFTPOS terminals to support 24/7 self-service banking.
Executive Comments
Group CEO Mr Mark Robinson stated, “I continue to be inspired by the deep sense of responsibility we hold as the region’s largest financial institution. That responsibility—to our customers, our people, our communities, and our shareholders—has never been more important. We are proud of our purpose of Championing Prosperity in the South Pacific.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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