Papua New Guinea's Bank of South Pacific has taken over the Habib Bank Ltd in Suva, Fiji after Habib Bank ceased its operations last Friday.
The Post Courier reports that BSP's board of directors chairman, Noreo Beangke confirmed last week that all approvals were finalised and conditions satisfied in respect to the acquisition of Habib Bank by Bank South Pacific Ltd.
Mr Beangke also announced the appointment of senior executive Peter Dixon to the position of general manager corporate and international.
Mr Dixon replaces Brian Storm who is returning to Australia after completing his contract of employment in January next year.
