Revenue Income 

BNCTL’s interest revenue continued to grow in 2019.  With modified products and digital channels, BNCTL’s non-interest income continues to increase and is now a material component of BNCTL’s performance.  The operating income of the bank bounced back after declining in 2018 when the GDP of Timor shrunk by 3.8%.  BNCTL is budgeting 17% increase in 2020 operating income.  With the introduction of different products and services, and enabled by new core banking system, T24, fee income has had a significant growth since 2017.  The net fees and commission income contributed Net income also increased in 2019 by almost 15%.  Net income for 2020 is budgeted at $3.2M. 


Progress Against 5- year Plan 

A five-year business plan was developed in 2018, and BNCTL has delivered on many of the targets set by the business plan. 

While the bank will continuously improve, grow and enhance on achieved goals; we have introduced the products and services targeted in the plan and are working on three remaining products which are credit card services, mobile banking / agent banking and trade finance. 

The bank has made significant progress with non-financial and operational goals of the business plan and these goals continue to be focus with continuous improvement mindset.  The governance structure is being enhanced slowly to meet the international good practice.

Each year, BNCTL produces an annual plan and budget.  The 2020 plan is guided by the 5-year plan developed in 2018.  Details regarding 2020 plan is in Goals for 2020 section of this report.