Iconic Nouvobanq House commissioned |20 May 2017

Nouvobanq opened the doors of its new US $14 million corporate headquarters and main office ‒ Nouvobanq House ‒ last night, with the intention of broadening access to financial services and transforming not only the landscape of banking in Seychelles but also the town of Victoria.

In the presence of a host of invitees among whom were Vice-President Vincent Meriton, Designated Minister Macsuzy Mondon and president of the Court of Appeal Francis MacGregor, guest of honour, President Danny Faure, left his imprint on the iconic building by unveiling the plaque to officially open and commission it.

The modern state-of-the-art building which has raised the bar where corporate infrastructure is concerned, has been built on the site of the old petrol station on Francis Rachel Street, adjacent to the Stad Popiler car park.

The architect was Tirant Associates, project manager Hooloomann Project Services Ltd and the contractor Laxmanbhai and Company.

The branch operations ‒ retail banking, reception and cashiering ‒ will be housed on the ground floor, while the first floor will house the foreign exchange, credit, loans and internal audit department. The second floor will accommodate the corporate banking, offshore banking, card centre, compliance and internet banking departments.

The offices of the chief executive and managing director Ahmed Sayeed and operations manager Doeraj Puddoo as well as the IT, human resource, finance and administration departments will be on the third floor.

The fourth remains vacant as the bank expects business to grow over the coming years.

Examining the impact of such an investment, Nouvobanq board chairman, Dr Steve Fanny, posited that this is a reaffirmation of its confidence in the country and a reassurance of the relevance of the sort of service it can render to the banking sector.

He added that the “bank will revamp the whole banking propositions with a number of innovative ideas to serve its esteemed customers and add value to shareholders”.

Dr Fanny insisted that “as a business Nouvobanq has a vision for the next 25 years ahead and has in place the solid foundation to become a player in the region and take our way of doing business overseas”.

“We must never be afraid in our quest for excellence and in the belief that anything is possible; we cannot afford to let our fear hold us back,” said chairman Fanny who added that Nouvobanq also takes care of its 130 staff of whom only five are expatriates.

“In order to maintain our staff and attract new talents to the bank, we will review our scheme of services more regularly and ensure we are taking care of our work force. The bank will also continue to provide a pension for all employees after serving a period of 10 years,” said Dr Fanny.

Dr Fanny also thanked former finance principal secretary Norman Weber who conceived the idea of the bank after the corporate failure of BCCI, former President France Albert Rene and President James Michel who was the Minister of Finance then, Ahmed Sayeed who left BCCI to work for the Ministry of Finance for one year to set up the bank.

Not only the pioneers have been thanked, but also the first customers, employees and all past board members who diligently served the bank over the years.

Meanwhile, Finance, Trade and Economic Planning Minister Peter Larose, pointed out that this “immaculate building” has turned into a landmark and added to the beauty of Victoria, adding that “this imposing house is far more than just a commercial bank … but an integral part of the identity of the Seychellois people, now and in the future”.

Founded in 1991 as a joint venture between the government of Seychelles and the Standard Charted Africa PLS which remains a strategic partner, the bank has grown from its humble beginnings in terms of offices, revenue, assets and staff, Minister Larose noted.

“It has expanded immeasurably offering an array of banking products, providing a variety of services and competing effectively with the older and more established foreign banks in Seychelles by opening branches on Mahé, Praslin, La Digue and Eden Island. It also has a network of 13 ATMs,” the minister added.

He noted that the “physical transformation and modernisation of Nouvobanq House is a testimony of the new chapter and progress in the history of the bank”.

“We can all be proud of the menu of financial services, which are tailor-made to the needs of the people and economy of Seychelles. In today’s highly competitive world economy, bank clients demand efficiency, a cost-effective financial services. I believe that the board of directors, management team and staff are ready to deliver first class services… With such an impressive development, I expect nothing short of continued success stories for the clients, employees, community and shareholders,” said Minister Larose.

He took the opportunity to wish the corporate team continued success to complement government’s efforts to turn Seychelles into a financial services centre in the Indian Ocean.

After Bishop James Wong of the Anglican church and Father Collin Underwood of the Catholic church had blessed the building, this was followed by the unveiling of the plaque placed next to the steps leading into the bank.

The guests then toured the building, while Yvonne Hoareau, who has been with the bank for 20 years, said she is looking forward to work in the “more conducive environment”.

“Working for the bank is great. We have a very good management and it helps a lot. But we now have to adapt in the new building as we used to be a close-knit group at the Victoria House main branch, and now we will be on different floors,” she added.