The Bhutanese Leading the way.
To further enhance the banking services the Bhutan Development Bank Limited (BDBL) launched its first Automated Teller Machine (ATM) in four Dzongkhags in the capital on 14th December 2013.
The ATM services are available in Paro, Wangduephodrang and Phuentsholing with two outlets in Thimphu. This year the bank also celebrated its 25 years of service.
During the inaugural ceremony, Managing Director of BDBL, Pem Tshering said that the ATM services were launched based on feedback received from the Customer Satisfaction Survey and branch offices and in keeping with the changing needs of Customers. He shared further plans to start ATMs in other Dzongkhags depending on the business potential from next year onwards.
The MD said that the bank started in January 1988 incorporated under the Royal Charter. He said that from its start till November 2013 the bank’s paid up capital increased from Nu. 12.5 million to Nu. 300 million today.
He said as of 30, November 2013 the total assets of the bank increased from 12.6 million to over Nu. 9.9 billion. The Loan outstanding amount increased from Nu. 5.3 million to Nu. 7.6 billion. BDBL had 40,717 loan customers which is one of the highest among all financial institutions.
He further said, “In keeping with changing business environment and without losing its core values the bank has changed its corporate color and logo”.
BDBL was established with assistance of the Asian Development Bank to function as a development finance institution. Only until march 2010, BDBL function as a domestic development bank with cheque facilities.
indulging in gambling or other It is the only bank that focuses on rural farmers and immediately assumed responsibility for the nation-wide credit program which provides seasonal, small and medium term loans to the small farmers of the country. The Royal Government owns 93.50 percent of it’s paid up share capital.
The Bank has established 33 branch offices in 20 Dzongkhags and 14 Dungkhags with the exception of Lingshi Dungkhag. This the MD mentioned was due to inadequacy in infrastructure.
The bank has already started SMS banking and internet banking services and with this launch of ATM services, Pem Tshering said, “It is envisaged that the bank can meet the needs of most of its banking customers”.
The event was graced by the Minister of Finance Namgay Dorji in the presence of Chairman and Board of Directors, Managing Director, Deputy Managing Director and officials of the BDBL.
