Brief History

• The Seychelles Commercial Bank was formerly known as Seychelles Savings Bank.
• The Seychelles Savings Bank Act (Chapter 208) permitted the Seychelles Savings Bank to engage in select banking activities as from 1st January, 1981.
• In 1992 the Government of Seychelles incorporated Seychelles Savings Bank as a limited liability company under the Companies Act, with majority shares owned by the Government of Seychelles.
• The Seychelles Savings Bank Act (1981) was repealed on 9th July, 1996 and in 1997 the Bank obtained a license to conduct “Domestic Banking Business” under the Financial Institution Act (Cap 79) granted by the Central Bank of Seychelles.
• Also, in 1997, the Bank took over the housing loan portfolio of Mortgage Finance Company Limited.
• The Bank changed its name from Seychelles Savings Bank to Seychelles Commercial Bank on 27th September 2013.
• The Bank presently conducts fully fledged Commercial Banking activity under the Financial Institution Act, 2004, as amended.