Bank of Bhutan commends MTI for India Entry Strategy

Friday, 4 December 2020 01:00 - - {{hitsCtrl.values.hits}}

Bank of Bhutan CEO Dorji Kardin and MTI CEO Hilmy Cader along with MTI and Bank of Bhutan officials

Bank of Bhutan (BoB), Bhutan’s oldest and largest commercial bank, has commended MTI Consulting for developing their India Market Entry Strategy. Over the last six months, a team of MTI Consultants from India and the South Asian Region worked closely with the BoB team to research, analyse, conceptualise and strategise their India Entry Plan. The process culminated with a presentation to the Board of BoB.

Commenting on this MTI assignment, BoB CEO Dorji Kadin said, “The MTI Team was very supportive and had done this study well. The Chairman and Board of BoB were appreciative of the report and the presentation.”

With the Bank’s vision ‘To be the nation’s premier financial institution’ and having a significant presence in Bhutan, the Bank intends to make its presence in the Indian financial market as well. The main objective of this project is to prepare a detailed project report for opening a branch office of BoB in India.

MTI CEO Hilmy Cader stated, “MTI is proud to be part of this historic initiative of BOB, since this will be first foreign operation to be set up by a Bhutanese bank and it is very important to understand the challenging dynamics BoB will have to encounter when setting up and continuing its operations in India. The study included stakeholder inputs from international banking professionals and exploring other opportunities created by converging domains like fintech. The analysis and recommendations were supported MTI’s panel of much experienced international banking and financial specialists.”

BoB is 80% owned by Druk Holdings & Investments (DHI), which is Bhutan’s state investment holding company and 20% by State Bank of India (SBI).