Mongolia's best corporate and investment bank 2020: TDBM
Asiamoney is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
AwardsBest Bank Awards

Mongolia's best corporate and investment bank 2020: TDBM

Trade And Development Bank Of Mongolia

Orkhon Onon, TDBM.jpg
Orkhon Onon, TDBM

Trade and Development Bank of Mongolia’s long-planned merger with Ulaanbaatar City Bank (UCB), announced in June 2020, made good sense on many levels.

The two share the same owner, which is handy for getting the deal signed off quickly. TDBM, the bigger partner, is better at corporate banking, while UCB specializes in lending to SMEs. The deal, notes TDBM executive vice-chairman Randolph Koppa, “complements our strong position in corporate banking, helps to broaden our deposit base, and pushes our market share of nationwide SME banking to more than 20%”. Koppa reckons the bank accounts for 55% of all corporate banking flows, and 75% of all payments.

TDBM, led by chief executive Orkhon Onon, plays a vital role in a country that is heavily dependent on trade with east Asian countries, particularly China: its importance increased during the Covid-19 pandemic, when Mongolia shut its borders twice.


Gift this article