Business Bhutan’s Sherab Dorji talks with new Chief Executive Officer, Dorji Namgyal Rinchhen of Bhutan National Bank (BNB).
Q. As you take over as the new CEO of BNB, what are your main priorities for the bank in the coming years?
A. I am grateful to the Board of Directors, our shareholders and the Royal Monetary Authority for the confidence they have placed in me, and I take on this responsibility with a clear sense of duty. BNB has been built over many years by its people, customers and previous leaders, and my responsibility is to strengthen that foundation and take the bank forward. My first priority is the soundness of the institution. BNB holds the savings of households and businesses across the country, and that trust depends on disciplined capital and liquidity management, a healthy credit portfolio and strong governance. These increasingly connected to customers feel its impact. The quality, accessibility and responsiveness of our service, through both branches and digital channels, will remain central to how we measure ourselves. Finally, we will continue investing in our people. The competence and integrity of our staff determine the quality of our decisions and services. Developing the next generation of banking professionals is therefore one of my key responsibilities.
Q. What is your overall vision for BNB, and how do you see the bank evolving in Bhutan’s changing financial and
economic environment?
A. My vision is for BNB to grow in step with the nation. Profitability is essential. Only a profitable and financially sound bank can sustain its services to the public and deliver sustainable returns to shareholders. But our performance should also be measured by the value we create for customers and the contribution we make to the
economy. That is consistent with the broader values of Gross National Happiness, which encourage us to look beyond financial results alone. Bhutan is undergoing structural change. New sectors are emerging, the expectations of a younger generation are rising, and our financial system is becoming more sophisticated and increasingly connected to regional and global markets. In that environment, the traditional model of deposit taking and lending is no longer sufficient on its own. I see BNB evolving into a long-term financial partner— helping households build financial security, supporting businesses through different stages of the economic cycle, and mobilising domestic savings and inward remittances for productive investment. We will pursue this in alignment with the priorities of the 13th Five Year Plan and in close cooperation with the Royal Monetary Authority and the Royal Government.
Q. How do you plan to strengthen BNB’s relationship with its customers and improve the overall banking experience?
A. Customer confidence is built through consistency, responsiveness and trust. Our objective is that every customer, whether in Thimphu or a remote gewog, receives a high standard of service and finds the bank
responsive, transparent and fair. Operationally, this means shorter turnaround times, simpler procedures and
clearer communication. It also means treating complaints as opportunities to learn and improve, because they often reveal where the customer experience can be strengthened. We also intend to extend our reach. Rural communities, women-led enterprises, young people and Bhutanese working overseas are areas where we can do considerably more. Serving these customers better is both a commercial opportunity and part of our broader responsibility as a national financial institution. Financial literacy is another important part of this effort. Customers who understand their financial options are better placed to save, borrow and invest prudently. That ultimately strengthens both individual financial wellbeing and the stability of the financial system.
Q. What are the key areas where you believe BNB needs to improve to remain competitive and continue
supporting individuals, businesses and the economy?
A. BNB is in a strong position, but there is always room to raise our standards. I see four areas requiring continued focus. The first is efficiency, particularly in credit delivery. For a business with an investment opportunity, the speed of a decision can be just as important as the decision itself. The second is asset quality. We will maintain rigorous underwriting standards while engaging early with borrowers who come under financial stress. Early engagement can often create workable solutions before problems become more difficult to resolve. Third is product design. The cash flows and financing needs of a farmer, contractor,
established business and start-up are very different. Our products need to reflect those realities rather
than apply a one-size-fits-all approach. Fourth is capability. We will continue strengthening our professional skills, technology and systems so that BNB can keep pace with a more sophisticated and competitive market. I also believe competition is healthy for the banking sector. It encourages institutions to raise their standards, innovate and serve customers better. Ultimately, customers and the wider economy benefit.
Q. As the banking sector becomes increasingly digital, what role do you see technology and digital banking playing in BNB’s future?
A. Technology will be central to BNB’s future, but I see it as a means of serving customers better, not an end in itself. Its greatest value is in widening access to financial services, reducing the cost of delivery and making payments and remittances faster, easier and more secure. Digital channels allow us to serve customers regardless
of geography and make financial services more accessible. We will continue strengthening our core systems and digital platforms to make them resilient, secure and easy to use. But greater digitalisation also brings greater responsibility. As more financial activity moves online, cybersecurity and data protection become fundamental to public trust. These are areas in which we will continue to invest. At the same time, digital adoption is not uniform. Our branch network and staff will remain important to customers who prefer or require personal service. Modernisation must not come at the expense of inclusion. Our objective is therefore not simply to become a more digital bank, but to become a more accessible, responsive, secure and customer-focused bank—using technology where it adds value while retaining the human connection that remains essential to banking
