The Royal Securities Exchange of Bhutan is the only stock exchange in Bhutan. It is one of the world's smallest stock exchanges, with a market capitalization of around 738 million dollars and 18 listed companies as of December 2024. As of 2024, market capitalization in Bhutanese Ngultrum (BTN) is 62,000,000,000.
It is located in the Royal Insurance Corporation of Bhutan (RICBL) building in Thimphu.Wet Bhutan and Green Dooars See pictures a bit down from the middle of the page. The capital for the establishment of the stock exchange was provided by Bank of Bhutan, the Royal Insurance Corporation of Bhutan, Unit Trust of Bhutan (now Bhutan National Bank) and the Bhutan Development Finance Corporation.
Listed companies As of December 2025, the following companies are listed on the exchange, with market capitalisation on 31 December 2025.
Symbol Company Market capitalisation (Nu.) BBPL Bhutan Board Products Limited 336,003,920 BCCL Bhutan Carbide and Chemicals Limited 434,000,000 BFAL Bhutan Ferro Alloys Limited 1,622,850,000 BIL Bhutan Insurance Limited 3,445,800,000 BNBL Bhutan National Bank Limited 14,597,755,426 BPCL Bhutan Polymers Company Limited 105,966,950 BTCL Bhutan Tourism Corporation Limited 1,130,760,000 DFAL Druk Ferro Alloys Limited 2,166,041,543 DPL Dungsam Polymers Limited 155,777,970 DPNB Druk PNB Bank Limited 5,208,125,364 DWAL Druk Wang Alloys Limited 3,703,274,128 GICB Bhutan Reinsurance Company Limited 3,080,000,000 KCL Kuensel Corporation Limited 157,450,000 PCAL Penden Cement Authority Limited 1,675,524,620 RICBL Royal Insurance Corporation of Bhutan Limited 12,226,003,903 STCBL State Trading Corporation of Bhutan Limited 1,066,510,942 SVL Sherza Ventures Limited 68,386,032 TBL T-Bank Limited 3,320,711,672 Total 54,500,942,469
Delisted companies Symbol Company Year delisted BBCL Bhutan Beverages Company Limited 2007 BDAL Bhutan Dairy and Agro Products Limited 2010 DPCL Druk Petroleum Corporation Limited 2011 DML Druk Mining Limited 2011 BTL Bhutan Times Limited 2014 DPOP Druk Plaster and Chemicals Limited 2020 EBCC S.D Eastern Bhutan Coal Company Limited 2020 JMCL Jigme Mining Corporation Limited 2021 DSCL Druk Satair Corporation Limited 2023
See also Asia-Pacific Central Securities Depository Group
References
External links Bhutan - Banking and securities 20,000 plus to get refunds