Bank of South Pacific (BSP) is working closely with the Central Bank of Solomon Islands (CBSI) to obtain the necessary approvals and discussions with the CBSI have been positive and have well-progressed.
This was revealed in a statement by BSP Group chairman Kostas Constantinou.
He says BSP is confident for a positive conclusion of the new application that is before the CBSI to allow the transaction to proceed shortly thereafter.
"BSP acknowledges and thanks the CBSI governor and the board of directors for its careful and considered review of our application," he said.
According to him, BSP and Westpac remained committed to the acquisition of Westpac's Vanuatu Operations.