Bhutan National Bank started on July 25th 1980 as Unit Trust of Bhutan (UTB) with an initial funding of Nu. 2.5 million by Royal Insurance Corporation of Bhutan. The trust functioned as a subsidiary of RICB with the the purpose set to inculcate saving habits among the general public and to channel resources into productive sectors. On the 1st of January 1992, the royal government conferred the trust with the status of independent financial institution. In its first year the trust declared a profit of mere Nu. 9618.86. With the growing economy and only one bank in the kingdom in 1995, the trust was converted into a commercial bank with the assistance from the Asian Development Bank. It was in the July of 1996 that the Bank’s equity was offered to the public. This made the bank a widely owned public financial institution with an ownership of 28.58 % by the general public. Five months later in December, the entire bank was computerised with the advent of banking software called Micro banker.
About the company
Type: Autonomous Government Agency
Address: Thimphu Bhutan