Mongolia's best domestic bank 2017: Khan Bank
Khan Bank is an outlier in Mongolia in many ways. It has a diversified and international – by local standards – investor base that includes Japan-based Sawada Holdings and the IFC, the private-sector arm of the World Bank. And it is both big and small.
Big, in that it has more assets ($2.9 billion) than any of its domestic commercial banking rivals, an impressive digital banking presence, a solid priority banking service that it extends to mass-affluent customers and a growing army of corporate customers, ranging from mining giants to small and medium-sized firms.
It reported returns on its equity and assets of, respectively, 17.5% and 1.99% in the third quarter of 2017, handily beating all of its top-tier peers. It is also regularly more profitable than them, and made a net profit of Tug101 billion ($41.4 million) through the first nine months of 2017, a year-on-year rise of 43%.
But Khan Bank is also proud to be small, in that it focuses on the little guy and does it well. Khan has more retail customers – 2.4 million in a country of barely 3 million people – than any of its main rivals. It reaches them via a growing network of 537 branches and more than 1,000 ATMs.
Khan Bank’s customers range from camel herders working alone in some of the harshest terrain on Earth to some of Mongolia’s largest companies. And it strives to treat them all equally.