Mongolia's best bank for CSR 2023: Golomt Bank
Golomt Bank distinguished itself during the awards period as a leader in corporate social responsibility demonstrating commitment to Mongolia's social and economic development and cultural heritage.
The bank has supported small and medium-sized enterprises and sustainability through its lending. SMEs account for 77% of the country’s registered companies and, as of November 2022, Golomt had increased loans to this segment to Tug360 billion ($105 million). It has also increased its focus on sustainable financing: of the 667 business loans issued in 2022, just over 70% were assessed for environmental and social risks.
The bank has run initiatives designed to support healthcare and education in the country. Through its Heart Never Forgets project, 18,000 children have been examined and diagnosed, and more than 600 children have been successfully operated on.
Its student scholarship programme has awarded more than Tug1 billion worth of scholarships to 1,600 students as of 2022.
Mongolia has a strong cultural heritage that the bank has been helping preserve through the Genesis of Heritage and Culture project in cooperation with the Institute of Archaeology of the Mongolian Academy of Sciences (MAS). The project has funded archaeological excavations and research work at the Wang Khan's Palace of Khereids and the ruins of Turgeny Balgas-Tuul 'Khar Tune Ord' palace.