VICTORIA, Seychelles — The Development Bank of Seychelles (DBS) is celebrating its 47th anniversary, marking nearly five decades of providing financial support for economic development in the country. Established in 1977 as a joint venture between the government and other shareholders, DBS operates as a non-budgetary dependent public enterprise on a commercial basis.
As of January 2025, DBS has financed more than 9,000 projects, amounting to more than R3 billion. Speaking to this newspaper, the bank’s chief executive, Jean Preira, said the institution had evolved from a focus on agriculture, fisheries and manufacturing to support modernisation across tourism, construction, services and renewable energy. Following economic reforms in 2008, DBS came under Central Bank of Seychelles regulation and has since hired additional staff in risk, compliance and customer service.
The bank is currently working on a US$1.2 million core banking system and digital archiving project, set to be completed later this year. Once online, the system will allow customers to apply for loans and view statements online, while strengthening anti-money laundering measures. DBS faces a non-performing loan ratio of 13 per cent and is working to reduce it, with plans to construct an annex behind its existing building to accommodate growing operations. The bank has also adopted an old people’s home at Grand Anse Praslin and contributes to disaster relief funds.
