The Development Bank of Seychelles (DBS) was established in 1977 under Decree No.21 as a development finance institution with a specific mandate to assist in the economic development of the Seychelles.
The Government of Seychelles is the major shareholder of DBS with a 60.5% stake. The remaining shareholders include the Agence Francaise de Development with 20% shares, the European Investment Bank with 15.91% shares. The Novobank holds the remaining 1.59% share.
DBS mission is to provide financial assistance to SMEs, especially to the risky sectors of the Seychelles economy ensuring that finance is channeled where most needed, hence bridging the gap between commercial investment and economic development. The Bank’s vision is to remain a friendly and customer focused financial institution in meeting customers’ requirement in productive sectors of the economy.
Head Office: Development Bank of Seychelles, P.O. Box 217, Independence Avenue, Victoria, Mahe, Seychelles
Tel: +248 4294400
Fax: +248 4224274
Formerly known as the Seychelles International Business Authority (SIBA), the Seychelles Finnacial Services Authority is the regulator for offshore non-bank financial services in the Seychelles. Established under the Financial Services Authority Act, 2013, the Authority is responsible for the licensing, supervision and development of the non-bank financial services industry of the Seychelles. The Authority is also responsible for the registration of International Business Companies, Foundations, Limited Partnerships and International Trusts in the Seychelles.
While the SIBA, in the past, was also a service provider and facilitated international business, the FSA represents an evolution in international financial services in Seychelles, in that the new institution will concentrate solely on regulatory matters.
SFSA vision is to safeguard the interest of the Seychelles non-bank financial services sector, through the establishment of a sound and ethical regulatory environment.
Head Office: PO Box 991, Bois de Rose Avenue, Roche Caiman, Victoria, Mahe Republic of Seychelles
Tel: +248 438 08 00
Fax: +248 438 08 88
Housing Finance Company Limited (HFCL) is a financial body which was incorporated on 21 May 2003 under the Companies Act, 1972. Housing Finance Company (HFC) is a government owned company which provides financing to Seychellois for the purchase of land, the construction of houses and financing home improvements.
Its major role involves borrowing from banks at a reasonable interest rate and subsequently lending to clients. It has provided lending services to the low to middle income population for the past 10 years and it aims to continue providing affordable loans to the less income earners while operating a proficient company.
HFCL aims to provide innovative and affordable housing finance solutions to the low- and middle-income housing market and to be the leading provider of integrated solutions for the acquisition, development and improvement of property in Seychelles.
As part of its growth strategy, HFCL seeks to spread out its current successful trend by expanding the loan portfolio by acquiring a loan of SR150million from Barclays Bank. The funds will enable HFCL to meet customers’ demands and at the same time offer reliable financial returns.
HFCL is a company with lots of social responsibilities and is not intended to have large profits; however it should be able to sustain its operational costs.
Head Office: PO Box 1112, 1st Floor, Victoria House, Victoria, Mahé, Seychelles
Tel: +248 467 06 00
Fax: +248 461 06 63
The Seychelles Commercial Bank formerly known as ‘Seychelles Savings Bank’ came into being more than100 years ago. The Bank presently conducts fully fledged commercial banking activity, including housing loans and foreign exchange operations under the Financial Institutions Act, 2004, as amended.
The Government of Seychelles holds majority shares (76.55%) whilst account shareholders and staff hold 23.45% shares in the Bank. The Government intends to hold only 60% ownership in the Bank and hence planning to come out with an offer to sell the balance of 16.55 % to accountholders.
The Bank earned an Operating profit of SR17.37 million and after tax profit of SR9.45 million as at end December, 2012.
The Seychelles Commercial Bank seeks to meet fully and efficiently all the banking needs of its customers.
In 2013, the Bank revamped itself in terms of new name, logo, font and slogan. Significantly, it repositioned itself so as to refelect the true nature of its activities which involoves not only catering to low income earners, but also providing all types of commercial banking facilities. Some of the new initiatibves by the Bank are:
Upgrading of its banking sofware
The Bank projects a profit after tax of SR14.4 million in the year 2015.
Website: Website under construction
Head Office: PO Box 531, Orion Mall, Victoria, Mahé, Seychelles
Tel: +248 429 40 00
Fax: +248 422 47 13
Experienced internationally, but at home in Seychelles, Nouvobanq has been providing the people and business community of Seychelles with comprehensive, first-class banking services since 1991.
"Nouvobanq" at present is the largest locally incorporated bank in the Seychelles with
Shareholding of 78% Government of Seychelles and 22 % Standard Chartered Bank, with total Assets exceeding SCR3.885 billion.
Over the years the Bank has grown from a single town-centre office, to a multi-branch with the ability to meet the needs of customers large and small, at the same time as retaining its focus on providing products and services tailor made to local and international market.
The Bank is committed in achieving and maintaining a position of market leadership by combining its unsurpassed local knowledge, complete range of banking products and services, and constant commitment to customer satisfaction, with the leading edge skills and expertise of its international partner institutions.
Head Office: Victoria House, State House Avenue, Victoria, Mahe, P.O.Box 241
Tel: +248 4293 000
Fax: +248 4224 670