De Surinaamsche Bank in Suriname and Banking Services

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The Saint Peter and Paul Cathedral in Pamaribo Suriname
Credit: pexels.com, The Saint Peter and Paul Cathedral in Pamaribo Suriname

De Surinaamsche Bank in Suriname has been a trusted financial institution for over 100 years, providing a wide range of banking services to its customers. It's one of the oldest banks in the country.

Founded in 1914, De Surinaamsche Bank has a rich history of serving the financial needs of Suriname. The bank's commitment to customer satisfaction has earned it a loyal customer base.

With a strong presence in the market, De Surinaamsche Bank offers a variety of banking services, including personal and corporate banking, investments, and insurance. Its extensive network of branches and ATMs makes it easily accessible to its customers.

The bank's experienced team of professionals is dedicated to providing expert advice and support to its customers, helping them achieve their financial goals.

History

De Surinaamsche Bank was founded on January 19, 1865, by Simon Abendanon in Paramaribo, and it opened for business on July 18, 1865.

The bank's headquarters remained in Amsterdam, but it had a significant presence in Suriname. Abendanon, a captain and court bailiff, saw an opportunity to create a bank that would issue banknotes and finance trade after the abolition of slavery in 1863.

Facade of a Modern Bank Building in City at Sunset
Credit: pexels.com, Facade of a Modern Bank Building in City at Sunset

The bank was initially successful, and it was the circulation bank in Suriname from 1865 to 1957, responsible for issuing paper money. However, in 1957, the Central Bank of Suriname took over this responsibility.

Here's a brief timeline of the bank's major milestones:

  • 1865: De Surinaamsche Bank founded in Paramaribo
  • 1948: Nederlandsche Handel-Maatschappij acquired DSB
  • 1957: DSB gave up its right to issue notes to the Central Bank of Suriname
  • 1964: Nederlandsche Handel-Maatschappij merged with De Twentsche Bank to form Algemene Bank Nederland (ABN)
  • 2001: ABN AMRO sold its 49% holding in DSB to Assuria N.V.

In 2006, the bank was involved in a scandal due to alleged illegal financial transactions by its director and predecessor. This was not the bank's only challenge, as it suffered significant losses in 2016 due to large, irresponsible loans to the Surinamese government.

Bank Activities

De Surinaamsche Bank, or DSB, is a large bank in the country that provides financial services to both businesses and individuals.

The bank offers a range of services to its clients, including financial services to companies and private individuals.

One notable service is the Surinaamse Trust Maatschappij N.V. (Suritrust), a 100% subsidiary of the bank that provides private banking and wealth management services to high net worth clients.

DSB also has a joint venture with Assuria, called DSB Assuria Vastgoed Maatschappij N.V. (DAVG), which was previously consolidated but is now accounted for as a minority interest in the bank's books.

Financial Results

Credit: youtube.com, 2022 Half Year Financial Results

De Surinaamsche Bank's financial results show a significant increase in its balance total over the years. The bank's balance total grew from 2150 million Surinaamse dollars in 2012 to 7509 million Surinaamse dollars in 2016.

In 2012, the bank's balance total was 2150 million Surinaamse dollars. This was accompanied by an own capital of 233 million Surinaamse dollars.

The bank's net result was 39 million Surinaamse dollars in 2012. This was despite having 382 employees.

The number of employees at the bank remained relatively stable between 2012 and 2015, ranging from 382 to 472 employees.

Here is a summary of the bank's financial results for the years 2012 to 2016:

Security Alerts

DSB warns clients about phishing scams via fake SMS messages. These messages claim to be from DSB and ask clients to update their user information within 24 hours.

The bank's official communication channels are Telesur (+597 8837565) and Digicel (+597 8230033, 8001, 8002, and 8003). Be cautious of numbers starting with +44 (UK) and +91 (India) as they are not genuine DSB numbers.

Credit: youtube.com, The Real Deal: Mobile Banking App Security

DSB never asks clients to change their login credentials, passwords, or pin codes via a link. They always communicate via their official channels.

If you've received a suspicious message, delete it and block the number. Inform your provider, and check your account for any suspicious activity.

Use antivirus software to protect yourself from cyber threats.

DSB Bank - Suriname

DSB Bank - Suriname is a subsidiary of De Surinaamsche Bank. It was established in 1960.

DSB Bank - Suriname offers a range of financial services, including personal banking, corporate banking, and investment banking.

The bank's headquarters is located in Paramaribo, Suriname's capital city.

Bertha Hoeger

Junior Writer

Bertha Hoeger is a versatile writer with a keen interest in financial institutions and community development. Her work primarily focuses on banking and microfinance sectors, providing insightful analyses of various Indian financial entities and organizations. She has covered a range of topics, from banks based in Maharashtra and those established in 2019 to private sector banks and microfinance companies.

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