Founded in 1957 as a branch of the National Australia Bank, the Bank of South Pacific (BSP) has grown to become the most prominent banking and financial services group in the South Pacific. After being acquired by the government of Papua New Guinea in 1993 and subsequently privatized, BSP has expanded its operations significantly. The group is a major provider of retail and business banking, corporate finance, investment banking, and asset management services. Its mission is to be the leading financial services provider in its chosen markets, helping customers, staff, shareholders, and communities to prosper.