Economy of Mongolia - Banks

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

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