Golomt Bank
Mongolia’s best bank for corporates this year is Golomt Bank, which has enhanced its products and services to support the changing needs of domestic corporates.
In digital, the bank adopted open banking in 2022. Part of its strategy included the launch of a corporate banking gateway that integrates client enterprise resource planning systems with the bank’s payment systems. An additional benefit for corporate clients is the introduction of Visa B2B, a service that allows companies to make foreign payments to 106 countries in dollars and euros quickly and with low fees.
The bank has helped its corporate clients improve their sustainability credentials by completing environmental and social risk assessments for 71% of the total of 670 business loans it made.
Recent deals include a four-year, $5 million loan to Enabling Capital, a bank guarantee for the construction of a wastewater-recycling plant, and a green guarantee for the construction of a 10-megawatt solar power project in the city of Murun.