About us

DBS History 1978-2019

The Development Bank of Seychelles was created in 1977 as a joint venture between the Government and other shareholders namely Caisse Francaise de Cooperation, European Investment Bank, DEG, Standard Chartered Bank and Barclays Bank.  During the years, some shareholders namely Barclays Bank and DEG disengaged themselves in DBS. Overtime, the shares of Standard Chartered Bank were taken over by Nouvobanq. DBS bought back Barclays’ share and Government purchased the shares of DEG, hence, increasing its shareholding to 60.50%.

 

DBS started operations at the Supreme Court Building in February 1978, with only eight staff members.  The Bank moved to its present location at Independence Avenue in August, 1984.  In the early days, DBS was serving mainly agricultural and fisheries sectors.  Over the years DBS’ business portfolio has grown to financing of new, modernization and expansion projects in the fields of agriculture, fisheries, industry, service and tourism, construction of commercial buildings including rental accommodation, office, storage as well as shop premises.  During the 40 years, DBS has evolved to become one of the leading financial institutions in project financing in almost all sectors of the economy.  DBS also has an office on Praslin that is operational on a daily basis, with the aim of facilitating and bringing its services closer to its clients on Praslin as well as La Digue.

 

During its 40 years, the Bank has seen a substantial increase in demand for new project developments as well as a substantial increase in the volume of transactions it handles. Over the years DBS has financed 8,587 projects for an amount in excess of SCR. 2.8 billion.

DBS is a non-budgetary dependent public enterprise and operates on a commercial basis with accumulated profit of above SCR 218 million as at 31st December 2017. The Bank has a strong balance sheet with a total asset of SCR 1.083 billion. Its total loan outstanding after taking into consideration the provision for bad debt and interest in suspense stands at SCR 885 million.  DBS is a profitable organisation and its profit as at December 2017 amounted to SCR 15.818 million.

 

 

During the 40 years, DBS has showed the ability to adapt to market changes and demands and has not hesitated whenever necessary to diversify its services to meet the needs of its customers. From eight staff members in 1978, DBS now employ 58 dedicated staff members committed to making the vision of the Bank a reality.  The Bank is presently managed entirely by a Seychellois team.  Through a well-established training scheme, the Bank offers overseas as well as local training to all its staff members and consequently has produced several graduates and professional staff.

 

The Bank is continuously investing and upgrading its Information Technology to ensure that good networking and effective management information system is in place so as to modernize all of its processing and daily activities.  Apart from the implementation of a Core Banking System to replace a system which was outdated, the Bank’s aim is continue with such improvement and modernization.  This will contribute toward the efficiency and reliability of the Bank’s operations bringing it up to date with modern banking technology and practices.  The Bank’s website will be updated and modernized to make it more user friendly and interactive with the general public, its clients and stakeholders.  The Bank also introduced its own Facebook page to cater for a wider audience. In order to improve communication internally, DBS has also introduced the intranet, which offers members of staff online access to a wide range of information in relations to the Bank’s operation and activities such as policies/procedures, forms, pictures etc.….  A new record management system is underway which will facilitate the Bank’s record and retrieval of documents and also cater for the new documentation resource centre.     

 

Over the years, DBS has modernized its operation to adopt best banking practices and also to meet regulatory requirements.

The Bank has strengthened the Audit and IT departments to ensure continuity and flow of work at all times.  The Bank has set up the Risk unit to assist other departments in evaluating the risk and recommend options to mitigate accordingly.  It has set up ALCO (Assets and Liability Committee) to better manage assets and liabilities.  The Bank also underwent a complete restructuring of the loans and recovery departments to ensure better service and more transparency.

DBS also takes its corporate social responsibility towards society very seriously and continues to support activities and events which are socially acceptable and ethically driven and beneficial to the community.

 

The Bank also strives to maintain strong working relations with all its local stakeholders as well as its overseas shareholders and creditors.  Such relation is vital to the Bank’s corporate image both locally and internationally.

After 40 years in operation, it is evident that DBS has fulfilled to a large extent its objectives towards contributing to the socio-economic development of the country

DBS could not have made such progress without the support of the Government and other shareholders, the dedication and commitment of its staff members, the guidance of its Board of Directors and the patronage of its esteemed customers and other stakeholders.

 

 

MANAGEMENT TEAM

The Management Team consist of the Chief Executive Officer and the Heads of the different departments which includes:

 

Chief Executive Officer

Mr. Daniel Gappy

Head of Finance

Ms Jean Preira

Head of Collection & Recovery

Mrs. Agnes Poris

Head of Credit

Ms Rana Fernandes

Head of Corporate Services Department

Mr. Roy Charlette

Head of Compliance, Risk and Legal

Mrs. Jennifer Loizeau

 

BOARD OF DIRECTORS

Presently the Bank is governed by a Board comprising of six Non-Executive Directors including the Chairperson. The Chief Executive Officer (CEO) who is an Executive Director makes the eight member. The members are appointed by the President of the Republic of Seychelles and this is in line with Bank’s Decree, the statutory document which details how the Bank should be governed.  The Board has the overall responsibility of overseeing the financial, strategic and other policies that are administered by the Bank and also monitors its performance.  The composition of the Board is as follows:

 

Mrs. Brenda Bastienne

Non -Executive

Chairperson

Mr. Brian Charlette          

Non-Executive

Vice-Chairperson

Mr. Daniel Gappy

Executive

CEO

Mrs. Ina Barbé

Non -Executive

Director

Mr. Rupert Simeon

Non -Executive

Director

Mr. Marc Naiken

Non -Executive

Director

Mr.  Roy Clarisse

Non -Executive

Director

Ms Nicholle Belle

Non-Executive

Director

Mr. Ashwin Bhanderi

Non-Executive

Director


The non-executive directors’ experience covers the different sectors which DBS provide financial assistance to such as agriculture, fisheries, small industries etc.…

It is to be noted that the majority of the board members have been re-appointed except the chairperson and the vice-chairperson. The appointment of the new board took effect on 1st January, 2018. 

OUR TEAM

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