Mongolia's best bank for CSR 2022: TDBM
No one does corporate social responsibility in the country on the scale of Trade and Development Bank of Mongolia, which pairs its CSR operations with its increasing commitment to sustainability in the local market.
Few banks in Asia seem to be pulling off this balancing act as well as TDBM.
Since 1990, the bank had been a leading and reliable participant in CSR initiatives. To date, it has donated more than Tug2 billion ($584,000) in ways that have had a direct positive impact on roughly 10% of the Mongolian population. In particular, the bank has focused on supporting education, financial literacy, public health, sports, the wellbeing of vulnerable groups and the environment.
TDBM has been a clear trendsetter in this last regard, which also makes it Asiamoney’s best bank for environmental, social and governance in 2022. But equally importantly, it has steadily upped the ante with efforts to protect the environment and to play an active role in promoting sustainable development in Ulaanbaatar, where half of Mongolians reside.
In 2017, TDBM joined the Save Mazaalai fund that prioritizes delivering a safe water supply in provinces such as Govi-Altai, while protecting the local bear population (the Mazaalai species of brown bear is endangered).