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:
“Its whether will ye be a rank robbers wife,
Or will ye die by my wee pen knife?
Its Ill not be a rank robbers wife,
But Ill rather die by your wee pen knife.
He s killed this may and he s laid her by,
For to bear the red rose company.”
—Unknown. Babylon; or, The Bonnie Banks o Fordie (l. 914)
“For the wrong that needs resistance,
For the future in the distance,
And the good that I can do.”
—George Linnaeus Banks (18211881)
“I am not impressed by the Ivy League establishments. Of course they graduate the bestits all theyll take, leaving to others the problem of educating the country. They will give you an education the way the banks will give you moneyprovided you can prove to their satisfaction that you dont need it.”
—Peter De Vries (b. 1910)