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:
“Three million of such stones would be needed before the work was done. Three million stones of an average weight of 5,000 pounds, every stone cut precisely to fit into its destined place in the great pyramid. From the quarries they pulled the stones across the desert to the banks of the Nile. Never in the history of the world had so great a task been performed. Their faith gave them strength, and their joy gave them song.”
—William Faulkner (1897–1962)
“These, and such as these, must be our antiquities, for lack of human vestiges. The monuments of heroes and the temples of the gods which may once have stood on the banks of this river are now, at any rate, returned to dust and primitive soil. The murmur of unchronicled nations has died away along these shores, and once more Lowell and Manchester are on the trail of the Indian.”
—Henry David Thoreau (1817–1862)
“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)