The Bank South Pacific wishes to clarify key facts regarding media reports about Puma Energy’s decision to lo close its account with BSP, dated Monday 22nd January 2024. Bank South Pacific (BSP) in a statement today said that they had given Puma a 90 days’ notice to close its company account on 9th June 2023 BSP states that the reasons for BSP’s decision are known to the Bank of Papua New Guinea and the Financial Analysis and Supervision Unit and have been communicated to the Government. At the request of the Government, BSP extended the deadline to 8 March 2024 therefore Puma’s account with BSP is currently operational. However, by 8 March 2024, Puma will have had nine months to act responsibly, and make alternate banking arrangements. BSP Group CEO Mark Robinson highlighted that BSP has complied with all State of Emergency Orders and has given Puma over seven months to secure alternate banking arrangements. “This is more than ample time, and currently the customer has the capacity to operate their company accounts with BSP, but this will end in March.” “We will work with Puma, like any customer, to facilitate a smooth transition to alternate banking facilities."