Banks
The banking sector is highly concentrated, with four banks holding a significant majority market share:
- XacBank - XacBank is a community development bank and microfinance institution headquartered in Ulaanbaatar, with a nation-wide network of 100 offices and 1309 staff as of June 2012.
- Khan Bank - Khan Bank has 21 regional branch offices throughout the country, each of which supervises an additional 15 to 25 smaller branches in its area.
- Golomt Bank - Golomt Bank started in 1995 and now manages around 23% of the assets in the domestic banking system.
- Trade and Development Bank - TDB was formed in 1990 and is thus the oldest bank in Mongolia. It has a network of 28 branches and settlement centers, 60 ATMs, 1300 POS terminals, and Internet/SMS banking throughout the country.
Read more about this topic: Economy Of Mongolia
Famous quotes containing the word banks:
“I am not impressed by the Ivy League establishments. Of course they graduate the best—it’s all they’ll take, leaving to others the problem of educating the country. They will give you an education the way the banks will give you money—provided you can prove to their satisfaction that you don’t need it.”
—Peter De Vries (b. 1910)
“The world is a puzzling place today. All these banks sending us credit cards, with our names on them. Well, we didn’t order any credit cards! We don’t spend what we don’t have. So we just cut them in half and throw them out, just as soon as we open them in the mail. Imagine a bank sending credit cards to two ladies over a hundred years old! What are those folks thinking?”
—Sarah Louise Delany (b. 1889)
“Power, in Case’s world, meant corporate power. The zaibatsus, the multinationals ..., had ... attained a kind of immortality. You couldn’t kill a zaibatsu by assassinating a dozen key executives; there were others waiting to step up the ladder; assume the vacated position, access the vast banks of corporate memory.”
—William Gibson (b. 1948)