Financial Position and Portfolio
By the end of 2008, XacBank served more than 64,607 borrowers and 112,917 depositors through 74 branches, with a total loan portfolio of over $ 56 million, deposits of $ 124 million, and a staff of 1020.
In 2011, XacBank had 77,345 active borrowers, a Gross Loan Portfolio of USD $393.2 million, and assets of USD $594.6 million
XacBank’s ownership comprises the EIT (Employee Investment Trust) Capital Management (24.31%), International Finance Corporation (11.81%) and the European Bank for Reconstruction and Development (11.15%) along with various ethical and social investors including Mercy Corps (15.78%) and Triodos (14.98%).
On May 23, 2012, Moody's Investors Service downgraded some of Xac Bank's long-term debt to B1 from Ba3.
XacBank will fund microloans for the purchase and installation of more efficient household insulation and heating fixtures in Ulaanbaatar as a means of generating carbon credits. The carbon credits will be generated by capturing reductions of greenhouse gas emissions. Citi Bank will purchase 1.17 million metric tons of carbon credits from MicroEnergy Credits. The first carbon credits are expected to be available for purchase by Citi Bank in March 2013.
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