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Company Profile: Bhutan National Bank Limited

BNB was established in 1997 as Bhutan's first commercial bank and was previously a government-run business called the Unit Trust of Bhutan. It launched computerized banking in 1996 and has since introduced many digital banking services like ATMs, internet banking, SMS banking, and a mobile wallet. BNB's vision is to gain regional recognition by being the best in customer service and workplace culture.

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979 views2 pages

Company Profile: Bhutan National Bank Limited

BNB was established in 1997 as Bhutan's first commercial bank and was previously a government-run business called the Unit Trust of Bhutan. It launched computerized banking in 1996 and has since introduced many digital banking services like ATMs, internet banking, SMS banking, and a mobile wallet. BNB's vision is to gain regional recognition by being the best in customer service and workplace culture.

Uploaded by

Rajesh Monger
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Bhutan National Bank Limited

Company Profile

Bhutan National Bank Limited (BNB) was established on 6th January 1997. It was previously
known as Unit Trust of Bhutan (UTB), a government-run business that operated as a subsidiary
of RICB and had an initial capital of Nu. 2.5 million. On January 1st, 1992, the government
granted the trust the status of an autonomous financial institution. With the help of the Asian
Development Bank's technical assistance, The Unit Trust of Bhutan was transformed into a
commercial bank in 1995. BNB's initial public offering (IPO) in 1996 gave it the only financial
institution with a sizeable 28.58% public ownership. The government sold 40% of its equity to
Citibank and the Asian Development Bank in 1997.
BNB was the first bank to go computerized. In 1996, it launched the banking program Micro
Banker, and in January 2003, it upgraded to the new banking program Flexcube. In addition,
BNB was the first bank in the nation to introduce ATM services in 2004.

Following the introduction of ATM services, the bank additionally offered debit Point of Sale
terminals in 2007 and updated to Flexcube corporate 7.3, a new version of Flexcube, in 2008. In
2009, SMS and Internet Banking were introduced to help customers receive better and faster
services. BNB introduced recurring deposits and rupee-denominated prepaid cards on April
12th, 2011. In 2011, the Bhutanese Prime Minister launched the Bhutan Financial Switch (BFS),
which was followed by the highly praised Piggy Bank Accounts for kids between the ages of 6
and 18 in 2012. The bank also introduced B-Wallet services later that year.

The bank's IT systems were most recently upgraded to Oracle 12 in 2013.


BNB owns 13.85% of the shares of FITI.
Vision & Mission
Purpose
To provide financial choice through innovation.
Values
Integrity: through fair and honest actions;
Innovation: by being a learning organization that puts good ideas to practice;
Leadership: by example, humility, recognition and empowerment;
Teamwork: through individual respect, underpinned by a united purpose; and
Discipline: through people, thought and action
Vision
To gain regional recognition by being #1 in all our services and work culture

Structure of BNB

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