At the recently concluded 117th Board of Director’s meeting in Seychelles, the Bank signed several new shareholding and partnership agreements. The new agreements signed reflect the Bank’s continued ability to attract additional resources and new partnerships, whilst continuing to strengthen existing partnerships.
On the sidelines of the Board Meeting, the Government of Seychelles also signed an agreement to purchase additional Class A shares increased its shareholdings to 2.33% by purchasing additional Class A shares worth US$ 25 million with the payable portion to be paid over 5 years taking substantial shareholding up to 2.33% to. The Seychelles Minister of Finance commended the Bank for its growth and progress so far and said. “Such commitment represents its confidence as a Member State and provides its commitment to the Board of Directors and management to continue with its efforts.” he added.
At the same time, a the partnership with the Development Bank of Seychelles led by Anne Vidot, CEO DBS that will enable two institutions to exchange experiences and collaborate on deals.
Last but not least, an agreement was signed with Sumitomo Mitsui Banking Corporation to grow bilateral cooperation, mutual exchange and cross referral of potential transactions and provision of synergies that greatly benefit the two institutions, was signed by Mr. Masahiko Oshima, Managing Director, and Head of EMEA Division, Sumitomo Mitsui Banking Cooperation.
SMBC won recently a bid as Initial Mandate Lead Arranger(IMLA) for the 2014 Syndicated Loan.
Lastly, Mr. Benoit Conrad, CEO of Seychelles Petroleum Company re-signed an extended loan of US$ 60 million with the Bank to facilitate the importation of fuel.