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. 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.