BNCTL operates 29 branches and units across all 12 municipalities, including RAEOA and Ataúro, with 63 ATMs, over 229 POS terminals, and 34 agent banks. This extensive network enables BNCTL to serve rural and remote areas, facilitating G2P and P2P payments. Since 2011, BNCTL has shown steady growth amidst challenges, maintaining strong performance, as shown in accompanying graphs.
BNCTL has received unqualified and qualified opinions on its financial reports from accredited external auditors for the past 8 years, indicating compliance with Generally Accepted Accounting Principles (GAAP).
As of September 2022, BNCTL serves approximately 380,000 customers, holding a 73% market share according to Banco Central Timor-Leste's 2021 Financial Inclusion Report. The bank has seen significant increases in assets (up 31%), deposit mobilization (up over 31%), and lending (up 14%) compared to June 2021, amidst Timor-Leste's challenging banking landscape.
BNCTL is progressing to operate as a full-fledged commercial bank and financial institution, serving small businesses, individuals, and microfinance customers. Leveraging technology advancements, BNCTL has effectively digitized its services.
BNCTL will pursue its strategy to better service its customers by offering international transactions through international credit/debit cards via its ATMs, POS via P24 network, and making available other seamless, convenient services allowing banking transactions without borders, such as internet banking, mobile banking and agent banking and digital lending expected to be available to its customers by the end of 2022, at the latest.
BNCTL is managed by a Board of Directors with five members, including three non-executive roles (Chairperson, Vice Chairperson, and member), alongside the appointed Chairman and Executive Committee Member. Supported by a team of about 360 staff, BNCTL is focused on its transformation agenda, aiming to fully digitize services by 2022. The bank is also adopting IFRS-9 for its financial statements.
Mission:
Provide accessible banking services to all with extensive reach in rural and urban areas.
Provide affordable financial services.
Promote excellent services - quality, friendly, and fast to all customers.
Support the economic development of the country
Contribute to poverty alleviation in Timor-Leste.
Vision:
BNCTL's vision is to be the country's leading commercial bank and a representative of Timorese around the world. This vision drives our efforts to offer quality and accessible financial services that meet the varied needs of our clients, in both urban and rural areas.
