27:
161:
176:
542:
374:
154:
12th April 2011, BNB launched
Recurring Deposit and Rupee Denominated Prepaid card in partnership with Axis Bank, India. (since discontinued). The bank joined the Bhutan Financial Switch (BFS), which was inaugurated by the Prime Minister of Bhutan in 2011, followed by the very well received Piggy Bank Accounts for children aged 6 -18 in 2012. Later in the same year, the bank also launched B-Wallet services.
485:
122:. The trust functioned as a subsidiary of RICB, with its purpose set to inculcate saving habits among the general public and to channel resources into productive sectors. On 1st January 1992, the Royal Government conferred the Trust with the status of an independent financial institution. In its first year, the Trust declared a profit of mere Nu. 9,618.86.
260:
Prior to Sonam Tobgay, Mr. Kipchu
Tshering was the CEO of the bank for 22 years, having been appointed to the position in June 1997, when the bank was just 6-months old. He is credited with stirring up the competitive landscape in banking in Bhutan, and bringing in revolutionary changes of the time.
253:
Bhutan
National Bank is currently headed by Mr Sonam Tobgay, Chief Executive Officer, who has been the CEO of the Bank since September 2019. He is assisted by a team of three Directors: Mr. Hem Kumar Acharya, who heads Banking Operations; Mr. Dorji Namgyel Rinchen, who heads the Customer Experience
183:
Currently, BNBL is the second largest bank in Bhutan by asset size, and provides all kinds of banking services, including Trade
Finance, CASA accounts, Loans, Remittances, Mobile and Internet Banking, POS-based Agency Banking via its "Ngotshab" service, Cards, and wallet service, MyPay. It also has
153:
Following the launch of ATM services, the bank also introduced Point of Sale (POS) terminals in 2007 and in 2008, upgraded its banking software from
Flexcube 4.5 to Flexcube Corporate 7.3. In order to provide better and faster services to clients, SMS and Internet Banking were launched in 2009. On
128:
The first IPO of BNB was offered to the public in 1996, which made the bank the only financial institution with public ownership, with a significant portion of its ownership with the public (28.58%) . In 1997, Government divested its equity of 40% to ADB and
Citibank. These two organizations have
133:
is the only foreign entity with shares in BNB- it owns about 11% of the bank's shares. At the time of the start of operations of the bank in
January 1997, the paid up capital of the bank was Nu. 59.5 million and a net worth of Nu. 139 million.
146:
95:
137:
BNB was the pioneer when it came into being in 1996, having started with a computerized banking environment; the initial software adopted by the bank was called Micro Banker. At the time the only other bank, Bank of Bhutan
171:
In 2019, BNB became to the first bank to issue RuPay debit cards in Bhutan; in the same year it became a primary member of the VISA card network. BNB currently issues RuPay debit cards, and VISA debit and credit cards.
141:
was providing banking services manually. Micro Banker was upgraded to iFlex
Solutions' (now owned by Oracle) Flexcube in January 2003. BNB was also the first bank in the country to launch the ATM services in 2004.
613:
214:
BNB's values help guide it in not just making the profitable choice, but also the right choice. To underline the importance of the bank's customers, its values add up to the acronym DELIGHT.
257:
At the helm of the Bank is the bank's Board of
Directors, currently chaired by Dasho Karma Tshiteem, nominee of the National Pension and Provident Fund, which holds about 25% of the bank's shares.
119:
Bhutan
National Bank Limited started operations as Unit Trust of Bhutan (UTB) on 25 July 1980, with an initial funding of Nu. 2.5 million by Royal Insurance Corporation of Bhutan
348:
2019- First Bank in Bhutan to issue RuPay cards; Became Primary Member of VISA. Got ISO and PCI DSS certified; moved its Corporate Office to its newly constructed building.
184:
tie-ups with international money transfer services MoneyGram and Ria, to facilitate remittances. The bank also launched its own remittance platform BNB Remit in 2023.
579:
608:
526:
282:
190:
BNB is the first bank in Bhutan to obtain ISO 27701:2019 certification. It is also PCI: DSS and ISO 9001 & 27001 certified since 2019.
618:
603:
129:
since divested their shares to the employees of the bank and the bhutanese public; currently International Finance Corporation (IFC) [
168:
The bank launched its mobile banking app in 2016, and later upgraded it in 2018, making it faster, better, and adding more services.
572:
400:
125:
UTB was subsequently converted into a commercial bank with technical assistance from Asian Development Bank in 1995.
628:
519:
206:
To gain regional recognition by being #1 in all the services the bank provides, and the work culture it follows.
598:
315:
565:
305:
292:
623:
364:
157:
In 2013, the bank upgraded its IT systems to Oracle 12; it was further upgraded to Oracle 14.x in 2024.
512:
278:
43:
26:
339:
160:
113:
333:
175:
105:
549:
496:
592:
322:
541:
379:
187:
In 2024 the bank rebranded itself, aligning with its upgraded core banking system.
329:
304:
1997 – the bank was officially opened, 40 percent of its equity was sold to the
254:
Department, and Mr. Dorji, who looks after the Corporate Services Department.
369:
442:
484:
220:
E- Entrepreneurship Through idea, meritocracy, recognition and empowerment
145:
309:
288:
1992 – the Trust received the status of independent financial institution
235:
T- Teamwork Through individual respect underpinned by a united purpose.
109:
63:
32:
94:
492:
69:
144:
93:
421:
226:
I- Integrity Through fairness and transparency in its actions
614:
Companies listed on the Royal Securities Exchange of Bhutan
232:
H- Humility In the way it interacts and delivers service
553:
500:
223:
L- Learning by improving continuously and failing well
130:
120:
139:
468:
229:
G- Grit Through passion and resilience in adversity
81:
76:
57:
49:
39:
301:1996 – the bank's equity was offered to the public
198:To provide financial choice through innovation
401:"Company Overview of Bhutan National Bank Ltd"
217:D- Discipline In practice, thought and action
573:
520:
295:the Trust was converted to a commercial bank
8:
19:
580:
566:
527:
513:
25:
18:
345:2016 – Introduced MPay mobile Banking App
243:To be the leading digital bank in Bhutan
174:
159:
392:
354:2024- Rebranded itself with new colors
548:This Asian bank-related article is a
283:Royal Insurance Corporation of Bhutan
7:
538:
536:
481:
479:
247:
342:and Rupee Denominated Prepaid card.
291:1995 – with the assistance of the
14:
540:
483:
372:
338:2011 – introduced the recurring
108:founded in 1997 and located in
164:MPay- BNB's Mobile Banking App
1:
609:1997 establishments in Bhutan
552:. You can help Knowledge by
499:. You can help Knowledge by
321:2007 – introduced the debit
443:"Brief Profile of the Bank"
645:
619:Companies based in Thimphu
535:
478:
314:2004 – launched the first
604:Banks established in 1997
269:The main events include:
24:
16:Commercial bank in Bhutan
31:Bhutan National Bank in
351:2023- MyPay Introduced
306:Asian Development Bank
293:Asian Development Bank
180:
165:
150:
98:
365:List of banks in Asia
178:
163:
148:
97:
297:Bhutan National Bank
275:Unit Trust of Bhutan
131:https://www.ifc.org/
102:Bhutan National Bank
20:Bhutan National Bank
491:This article about
328:2009 – started the
325:terminals in Bhutan
277:was founded by the
21:
318:services in Bhutan
181:
166:
151:
99:
44:Financial services
561:
560:
508:
507:
114:Kingdom of Bhutan
112:, capital of the
92:
91:
636:
629:Asian bank stubs
582:
575:
568:
544:
537:
529:
522:
515:
487:
480:
472:
471:
469:Official website
454:
453:
451:
449:
439:
433:
432:
430:
428:
418:
412:
411:
409:
407:
397:
382:
377:
376:
375:
334:Internet banking
279:Royal Government
179:BNB Wallet MyPay
88:
85:
83:
29:
22:
644:
643:
639:
638:
637:
635:
634:
633:
599:Banks of Bhutan
589:
588:
587:
586:
534:
533:
476:
467:
466:
463:
458:
457:
447:
445:
441:
440:
436:
426:
424:
420:
419:
415:
405:
403:
399:
398:
394:
389:
378:
373:
371:
361:
267:
251:
248:Management Team
241:
212:
204:
196:
149:BNB's New logo
106:commercial bank
80:
72:
66:
35:
17:
12:
11:
5:
642:
640:
632:
631:
626:
621:
616:
611:
606:
601:
591:
590:
585:
584:
577:
570:
562:
559:
558:
545:
532:
531:
524:
517:
509:
506:
505:
488:
474:
473:
462:
461:External links
459:
456:
455:
434:
422:"Bank history"
413:
391:
390:
388:
385:
384:
383:
368:
367:
360:
357:
356:
355:
352:
349:
346:
343:
336:
326:
319:
312:
302:
299:
289:
286:
266:
263:
250:
245:
240:
237:
211:
208:
203:
200:
195:
192:
90:
89:
78:
74:
73:
68:
62:
59:
55:
54:
51:
47:
46:
41:
37:
36:
30:
15:
13:
10:
9:
6:
4:
3:
2:
641:
630:
627:
625:
622:
620:
617:
615:
612:
610:
607:
605:
602:
600:
597:
596:
594:
583:
578:
576:
571:
569:
564:
563:
557:
555:
551:
546:
543:
539:
530:
525:
523:
518:
516:
511:
510:
504:
502:
498:
494:
489:
486:
482:
477:
470:
465:
464:
460:
444:
438:
435:
423:
417:
414:
402:
396:
393:
386:
381:
370:
366:
363:
362:
358:
353:
350:
347:
344:
341:
337:
335:
331:
327:
324:
323:Point of Sale
320:
317:
313:
311:
307:
303:
300:
298:
294:
290:
287:
284:
280:
276:
272:
271:
270:
264:
262:
258:
255:
249:
246:
244:
238:
236:
233:
230:
227:
224:
221:
218:
215:
209:
207:
201:
199:
193:
191:
188:
185:
177:
173:
169:
162:
158:
155:
147:
143:
140:
135:
132:
126:
123:
121:
117:
115:
111:
107:
103:
96:
87:
79:
75:
71:
65:
60:
56:
52:
48:
45:
42:
38:
34:
28:
23:
624:Bhutan stubs
554:expanding it
547:
501:expanding it
490:
475:
446:. Retrieved
437:
425:. Retrieved
416:
404:. Retrieved
395:
380:Banks portal
296:
274:
268:
259:
256:
252:
242:
234:
231:
228:
225:
222:
219:
216:
213:
205:
197:
189:
186:
182:
170:
167:
156:
152:
136:
127:
124:
118:
101:
100:
61:PO Box 439,
58:Headquarters
330:SMS banking
273:1980 – the
593:Categories
387:References
448:29 March
427:29 March
406:29 March
359:See also
310:Citibank
281:and the
40:Industry
340:deposit
265:History
194:Purpose
110:Thimphu
77:Website
64:Thimphu
50:Founded
33:Thimphu
493:Bhutan
285:(RICB)
239:Vision
210:Values
202:Vision
70:Bhutan
495:is a
104:is a
550:stub
497:stub
450:2017
429:2017
408:2017
332:and
308:and
84:.bnb
53:1997
316:ATM
86:.bt
82:www
595::
116:.
67:,
581:e
574:t
567:v
556:.
528:e
521:t
514:v
503:.
452:.
431:.
410:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
