We pay tribute to His Majesty the King for His Majesty’s leadership in fighting COVID-19, granting monetary and financial Kidu to the families and individuals affected by the global pandemic and ensuring that each and every Bhutanese is safe during such challenging times.

We, the people of Bhutan are indeed fortunate to live under the glorious and benevolent reign of the Wangchuck Dynasty.

Palden Drukpa Gyalo!!!

On behalf of the Board of Directors, the employees, shareholders and clients of Bhutan National Bank Limited, we would like to join the Nation in expressing our profound and heartfelt gratitude to His Majesty The King for the benevolent and compassionate leadership.

We are truly blessed to be living under the glorious reign of His Majesty the King. We pledge our allegiance to His Majesty in fighting COVID 19 by
providing safe banking services.

Long live our King

The Board of Directors has great pleasure in presenting the Annual Report along with the Audited Financial Statement of Accounts and the Cash Flow Statement of the Bank for the year ended 31.12.2019.

The 2018 financial year was a challenging one for the banking industry as a whole. During 2018, the Bank created substantial provisioning for non-performing loans in line with the relevant regulatory requirements and standards, thus increasing the accumulated provision for loan losses to Nu. 1.58 bn (under previous GAAP) and Nu. 1.82 bn (under BAS) as at 31 December 2018, and ultimately increasing provision coverage ratio to 89% of these nonperforming loans. Due to provisioning, profit for the year stood at Nu. 606.85 mn (under BAS) and Nu. 736.19 mn (under previous GAAP) for 2018, as compared with the previous year of Nu. 777.12 mn (under BAS) and Nu. 828.94 mn (under previous GAAP).

2017 can be summarized in a few words: in the face of significant challenges, we made significant progress. As with the changes taking place globally, the banking community in Bhutan too is rapidly evolving due to the changing consumer behavior, integration of technology and the virtualization of the consumer experience. With the growing and changing needs of customers at all levels, it has now become absolutely necessary for banks that look to outshine their peers to focus on the needs of the customer and embrace strong credit cultures.