Mongolia's best bank for SMEs 2023: Khan Bank
Khan Bank is Mongolia's best bank for small and medium-sized enterprises after having grown its business and commitment to the segment.
Mongolia’s SMEs have limited access to finance, despite accounting for 77% of the country's registered companies and 72% of its jobs.
Khan has grown its SME market share, with the number of SME clients on its books reaching 1,905 by the end of 2022, a 12.8% increase on 2021. Its SME loan portfolio increased by 14.9% to Tug8.13 trillion ($2.4 billion).
In addition to providing finance, the bank also focuses on supporting clients to manage their businesses. It has cooperated with more than 30 public and private-sector organizations through its SME support centre and gave 1,900 entrepreneurs professional training and consulting services in 2022.
During the research period, the bank received a $130 million syndicated loan arranged by the IFC to support its financing to SMEs. At least 50% of the loan will be exclusively used to back women-owned businesses.