Bank of Bhutan

What Bank of Bhutan does

Bank of Bhutan (BoB) is Bhutan's oldest and largest commercial bank, founded in 1968 and headquartered in Thimphu. It operates as a state-owned universal bank under the Royal Government of Bhutan, serving retail consumers, businesses, micro and small enterprises (MSEs), government entities, and non-resident Bhutanese through 28 branches covering all 20 dzongkhags and a 236+ location BoBConnect agent network. BoB's product portfolio spans deposits (savings at 4.50% p.a., Empower Savings at 4.75%, fixed, recurring, and foreign currency accounts), an extensive lending book (housing, education, ESP-subsidized education at 4%, consumer, vehicle, gold, agriculture, medical, mortgage, share loans, and overdraft), cards (international/domestic debit and credit, proprietary debit, student, corporate, fuel), and full international banking services including authorized foreign exchange dealing and remittance.

The bank's technology stack is anchored by a core banking system (subject to a publicly noted upgrade in January 2026) and a suite of proprietary digital channels: mBoB mobile banking, goBoB digital wallet, BoBNET retail and corporate internet banking, BoBAccount online account opening, and BoBLoan digital lending platform. BoB developed Bhutan's first proprietary QR code in 2017 and, in collaboration with the Royal Monetary Authority, launched the National QR infrastructure in 2020, enabling interoperability across Bhutanese banks and cross-border acceptance via iUPI (India) and UnionPay International (China). The bank holds ISO 9001:2015, ISO/IEC 27001:2022, ISO/IEC 27701:2019, and PCI DSS 4.0.1 certifications.

BoB's revenue model is a standard commercial bank construct: net interest income from lending (Minimum Lending Rate of 5.72%) and deposits, fee and commission income from cards, remittances, FX, POS acquiring, QR transactions, and account services, plus authorized foreign exchange dealing spread. The bank is the recipient of a US$20 million five-year fixed-rate debt investment from IFC (October 2025) - the first foreign debt investment in Bhutan's banking sector - with at least 80% earmarked for MSE lending, and it has also obtained Accredited Entity status with the Green Climate Fund (March 2026) to channel climate finance.

Name

Bank of Bhutan

Legal name

Bank of Bhutan Limited

Website

https://bob.bt

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bank of Bhutan is Bhutan's oldest and largest state-owned commercial bank, offering deposits, loans, cards, digital banking, and international banking services across 28 branches and 236+ agent locations in all 20 dzongkhags, serving retail, business, MSE, and non-resident customers.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Correspondent Banking (Nostro/Vostro & Agent Services) (FSABAJAA)

akta.pro secondary industries

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Cross-Border A2A & Bank Transfer Networks (FSAMAIAF)

Keywords

• Retail banking services
• Commercial lending products
• Digital payment solutions
• Foreign exchange services
• Agent banking network

Headquarters

HQ city

Thimphu

HQ country

Bhutan

HQ region

Asia

Offices29 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income from Lending: Bank of Bhutan earns interest income from its diverse loan portfolio including housing loans (up to 30 years), education loans, consumer loans, gold loans, agriculture loans, vehicle loans, medical loans, mortgage loans, and business loans. The bank publishes loan interest rates and MLR (Minimum Lending Rate) of 5.72%.
2. Deposit Interest: Bank pays interest on deposit accounts including savings (4.50% p.a., Empower Savings 4.75% p.a.), fixed deposits, recurring deposits, and foreign currency accounts (USD/AUD/EUR/GBP at 2.75% p.a.).
3. Fee and Commission Income: Bank earns fees from various services including ATM charges, card issuance and renewal fees (domestic/ international credit/debit cards), service charges on loans, cheque book charges, SMS alerts, foreign exchange services, remittance charges, POS acquiring fees, QR code transaction fees, and account maintenance charges. Overdraft against TDR is charged at 1% over deposit rate.
4. Foreign Exchange Services: Bank operates as an authorized dealer of foreign exchange in Bhutan, trading currencies including USD, GBP, Euro, JPY, CHF, HKD, CAD, AUD, DKK, SGD. Earns spread on currency transactions and provides services including encashment, travellers' cheques, drafts, wire transfers, letters of credit, and foreign currency accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels11 records

Marketing channels7 records

Core offering

Bank of Bhutan is a universal commercial bank offering deposits (savings, current, fixed, recurring, foreign currency), a broad loan portfolio (housing, education, consumer, medical, vehicle, agriculture, gold, mortgage), domestic and international debit/credit cards (Visa-branded), digital banking (mBoB mobile app, goBoB wallet, BoBNET internet banking, BoBAccount, BoBLoan), foreign exchange and remittance (SWIFT, RTGS/INR, Ria Money Transfer), trade finance and corporate banking, and a National QR payment infrastructure interoperable with iUPI (India) and UnionPay International (China). Services are delivered through 28 branches, 236+ BoBConnect agents, ATMs, POS terminals, and proprietary digital channels.

Product overview

Bank of Bhutan operates as a universal bank offering a comprehensive suite of traditional and digital banking products. The bank provides personal banking services including multiple deposit products (savings, fixed deposits, recurring deposits), diverse loan products (housing, education, consumer, agricultural, vehicle), and card services (debit and credit cards in domestic and international variants). For business customers, BoB offers corporate deposits, business loans, trade finance (Letters of Credit, Bank Guarantees), corporate cards, and payment gateway services. Digital banking is a core pillar with mBoB mobile banking app, goBoB digital wallet, BoBNET internet banking (retail and corporate), and BoBConnect agent banking. International banking services include foreign currency accounts, SWIFT remittances, Ria Money Transfer, and cross-border QR payment integrations with iUPI (India) and UnionPay International (China). The bank also offers alternative delivery channels including ATMs, POS terminals, and cash deposit machines, serving customers through a network of 28 branches across Bhutan.

Differentiator

Problem solved

Functional benefit

Brands

• mBoB: Mobile banking application for personal banking services including account management, fund transfers, and bill payments
• goBoB
• BoBAccount
• BoBLoan
• BoBNET
• BoBConnect
• BoBit

Products and services

• mBoB Mobile Banking Mobile banking application for personal banking customers to access accounts, perform fund transfers, check balances, pay bills, and complete QR-based transactions on mobile devices.
• goBoB Digital Wallet Digital wallet powered by Bank of Bhutan enabling customers to open an account digitally and conduct cashless mobile payments.
• BoBAccount Online Account Opening Online account opening platform enabling customers to open Bank of Bhutan deposit accounts digitally without visiting a branch, supporting the bank's financial inclusion goals.
• BoBLoan Digital Lending Digital lending platform enabling customers to apply for loans online, integrated with the ESP Education Loan Scheme and processable at any BoB branch.
• BoBNET Retail Internet Banking Retail internet banking platform for personal banking customers to manage accounts, perform transfers, and make payments online.
• BoBNET Corporate Internet Banking Corporate internet banking platform for business customers to manage accounts, payroll, and corporate payments online.
• BoBConnect Agent Banking Agent-based banking service extending deposit and withdrawal services to underserved rural and remote areas across Bhutan through 236+ BoBConnect agents.
• ATM Services Nationwide ATM network providing 24/7 cash withdrawals, balance inquiries, PIN changes, mini statements, and fund transfers to BoB and partner bank customers.
• POS Acquiring Services Point-of-sale terminal acquiring service enabling merchants across Bhutan to accept card-based payments from cardholders.
• Cash Deposit Machine Self-service cash deposit machines enabling customers to deposit cash into their accounts without visiting a branch.
• ePayment Gateway ePayment gateway enabling online merchants to accept digital payments including via the National QR code standard.
• Savings Deposit Account Basic savings deposit account for individuals, families, and businesses with a 4.50% p.a. interest rate calculated on a daily product basis and no upper balance limit.
• Empower Savings Account Premium digital-onboarding savings account offering 4.75% p.a. interest, integrated with mBoB and Internet Banking, with annual maintenance and ATM card fee exemptions.
• Fixed Deposit Account Term deposit product offering a known rate of return for tenure choices from 91 days to 10 years with flexible interest payout options.
• Young Savers Account Savings account for minors under 18 years of age, operated by parents or court-appointed guardians, with no service charges.
• Recurring Deposit Plus Disciplined savings product with monthly installments ranging from Nu. 100 to Nu. 10,000 to accumulate funds toward financial goals.
• Flexi Recurring Deposit Flexible recurring deposit allowing variable monthly deposits between Nu. 100 and Nu. 20,000 with no penalties for missed installments.
• Simple Recurring Deposit Recurring deposit with no maximum limit on monthly installments, requiring a fixed installment amount set at account opening.
• FC I Foreign Currency Account (Bhutanese Individuals) Foreign currency savings account for Bhutanese individuals residing in Bhutan, maintainable in convertible foreign currencies.
• Housing Loan Housing loan for construction, purchase, or renovation of residential property with up to 90% financing for non-commercial purposes and tenures up to 30 years.
• Education Loan Loan for students studying within or outside Bhutan covering tuition and related expenses, available with collateral or salary-based options.
• ESP Education Loan Scheme Concessional education loan scheme at a fixed 4% p.a. interest rate, with a maximum limit of Nu. 1,500,000, for Bhutanese youth pursuing vocational courses in India.
• Consumer Loan Personal loan for salaried employees to purchase household items, with eligibility up to Nu. 1,000,000 depending on service tenure.
• Vehicle Loan to Government Employee Vehicle financing for government employees, covering up to 30% of vehicle cost for ordinary vehicles and up to 70% for electric or hybrid vehicles.
• Transport Loan Loan for commercial vehicles (trucks, taxis, buses) and personal vehicles, with loan-to-value up to 70% for electric or hybrid vehicles.
• Gold Loan Instant loan against pledged 22- and 24-carat gold, with maximum 60% of gold value or Nu. 400,000, whichever is lower.
• Medical Loan Loan for medical expenses including hospitalization, surgeries, and prescriptions, with a collateral-based limit up to Nu. 1,000,000.
• Agriculture & Green Finance Loan Loan for agricultural activities, farm equipment, tractors, and green projects, financing 60-75% of project cost.
• Mortgage Loan / Loan Against Immovable Assets Loan against land and buildings with financing of 50-60% of collateral value, up to a maximum of Nu. 500,000.
• Share Loan Loan against shares of listed companies for investment purposes, with 50-60% loan-to-value depending on share type.
• Overdraft Against Term Deposit (OD against TDR) Overdraft facility against term deposits held at the bank, providing 90% of the term deposit value at 1% above the applicable deposit rate.
• International Credit Card Visa International Credit Card for use outside Bhutan, India, and Nepal, offering up to 45 days of interest-free credit and global acceptance at Visa merchants.
• International Debit Card Visa International Debit Card for global ATM withdrawals and POS purchases, with a yearly limit of USD 1,000 plus ATS allowance.
• Domestic Debit Card Visa Domestic Debit Card for use within Bhutan, India, and Nepal, providing ATM and POS capabilities.
• Proprietary Debit Card Bank of Bhutan-branded debit card valid within Bhutan only, supporting balance enquiry, cash withdrawal, and fund transfer at BoB ATMs.
• International Student Debit Card Visa International Student Debit Card for Bhutanese students studying abroad (third countries), with a monthly limit of approximately USD 1,200 and yearly limit of USD 10,000 plus ATS.
• Corporate Credit Card Corporate credit card issued to clients of the bank's Corporate Banking Department for business expense management.
• Fuel Card Business card for fuel purchases and related business expenses issued to corporate customers.
• Foreign Currency Account Foreign currency savings and term accounts denominated in USD, EUR, GBP, and AUD for Bhutanese living abroad and foreign nationals.
• Foreign Exchange Services Authorized dealer foreign exchange services including currency conversion, travellers' cheques, drafts, wire transfers, and Letters of Credit across major currencies.
• Annual Travel Scheme (ATS) Foreign exchange allocation scheme providing USD currency allowance for Bhutanese travelers going abroad for personal travel.
• Bhutan Inter-Bank Real Time (BIRT) Fund Transfer Real-time inter-bank fund transfer system enabling instant money transfers between banks in Bhutan.
• RTGS / INR Remittance Real-time gross settlement service for INR-denominated transfers from Bhutan to India.
• Foreign Currency Remittance (SWIFT) International wire transfer service via SWIFT for foreign currency transactions to and from Bhutan, including student living allowance disbursements.
• Self-Service Customer Portal Customer self-service portal enabling customers to retrieve loan interest certificates for PIT, ESP-RGF interest subsidy details, bank guarantee details, and ESP interest subsidies for hotel loans.

Quantifiable outcome

• Bank accredited as Accredited Entity (AE) for climate finance mechanisms including Green Climate Fund
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Nabil Bank: One of Nepal's largest private commercial banks, with a similar product mix of deposits, cards, digital banking, and remittance. Relevant as a regional comparable for South Asian Himalayan-market commercial banking economics.
• NIC Asia Bank: Nepalese commercial bank offering comparable retail, SME, and digital banking services. Functions as a regional scale and product-set benchmark alongside BoB, though operating in a different geography without overlapping territories.

Direct peers

• DK Bank (Druk Khyu): Bhutanese commercial bank integrated into the National QR standard alongside BoB. Directly comparable for deposit-taking, lending, and digital banking services to the same Bhutanese customer base.
• Agricultural Development Bank of Bhutan (ARDB): State-owned agricultural development bank in Bhutan. Overlaps with BoB on rural lending, agriculture loan products, and financial inclusion initiatives via BoBConnect-style last-mile channels.
• Tashi Bank (TBank): Private commercial bank in Bhutan offering similar deposit, loan, card, and digital banking products. Competes head-to-head with BoB for retail customers, SMEs, and corporate business within the same regulatory perimeter.
• Druk PNB Bank (DPNB): Joint venture between Druk Holding and India's Punjab National Bank. Offers retail and commercial banking services in Bhutan under the same regulatory framework, including National QR interoperability, making it a direct in-country competitor.
• Bhutan National Bank Limited (BNBL): Bhutan's other major state-linked commercial bank. Directly comparable to BoB on deposit products, retail/SME lending, and National QR participation, serving the same Bhutanese retail and corporate customers.
• Bhutan Development Bank Limited (BDBL): Bhutanese development-focused commercial bank. Overlaps with BoB's MSE and priority-sector lending mandate and participates in the National QR ecosystem, making it a close functional peer in domestic credit intermediation.

Broad incumbents

• Punjab National Bank (PNB): Indian public-sector commercial bank and joint-venture partner in Druk PNB Bank. Provides a broad-incumbent reference point on retail/state-owned banking operations and is a relevant counterparty for BoB's cross-border payment corridors.
• State Bank of India (SBI): Largest state-owned commercial bank in India with extensive correspondent relationships used by BoB for INR remittances. Establishes the incumbent benchmark BoB compares against for state-owned retail/commercial banking scale and product breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/BankofBhutan
• LinkedInlinkedin.com/company/bank-of-bhutan
• Xx.com/bankofbhutan

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank of Bhutan