The Central Bank of Seychelles (CBS) has published its Financial Surveillance Report for 2023, covering commercial banks, non-bank financial institutions (NBFIs), payment service providers (PSPs) and bureaux de change. The report sets out performance and soundness data for these sectors, summarises key supervisory and regulatory framework developments, and provides an outlook on potential risks. Commercial banks’ total assets increased by SCR 1,345 million to SCR 35,483 million, equity capital rose by SCR 515 million to SCR 3,515 million, and net profit after tax reached SCR 690 million, up SCR 91 million. NBFIs recorded net profit after tax of SCR 24 million (SCR 45 million in 2022), with total assets up SCR 42 million to SCR 2,430 million and equity capital rising 4.4% to SCR 1 million. Bureaux de change reported net profit after tax of SCR 45.9 million, up SCR 1.2 million, attributed to higher investment interest income and increased non-interest income including commissions and service fees; for PSPs, the report notes completion of projects including Cabinet endorsement of a policy paper on proposed amendments to the National Payment System Act 2014 and CBS board approval of an Oversight and Supervision Framework for Financial Market Infrastructures in Seychelles. The report is available on the CBS website.
Central Bank of Seychelles 2025-02-18
Central Bank of Seychelles publishes 2023 Financial Surveillance Report showing commercial bank assets rising to SCR 35,483 million
The Central Bank of Seychelles' 2023 Financial Surveillance Report details performance data for commercial banks, non-bank financial institutions, payment service providers, and bureaux de change. Highlights include a SCR 1,345 million increase in commercial banks' total assets and a SCR 91 million rise in net profit after tax. The report outlines supervisory developments, including amendments to the National Payment System Act 2014 and a new Oversight and Supervision Framework for Financial Market Infrastructures.