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Mongolia's best domestic bank 2022: Khan Bank

Khan Bank

Munkhtuya R, Khan Bank.jpg
Munkhtuya Rentsenbat, Khan Bank

Khan Bank’s chief executive, Munkhtuya Rentsenbat, landed the top job at an unusually challenging time: it was December 2020, when the economic cracks due to Covid-19 were appearing and shaking world markets.

But senior management at the bank did not miss a beat in stabilizing its balance sheet, while raising Khan Bank’s digital game. In a country of just 3.4 million people, the bank had more than 1.6 million active digital users in 2022, up from 1.58 million in 2021.

Khan Bank has some big numbers backing its solid credentials. It has one of the largest geographic footprints in Mongolia, for starters. It has more than 2.7 million customers and serves roughly 82% of Mongolian households.

That reach spans more than 2.1 million cardholders, more than 1,400 ATMs, 204 express bank locations, 215 kiosk machines and well over 33,000 point-of-sale terminals through 26,000 merchants.

In the most chaotic of global conditions, Khan Bank increased its total assets in 2021 by 11% to Tug13.5