Mongolia
LATEST ARTICLES
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Golomt Bank takes the best domestic bank award for Mongolia this year in recognition of its financial performance and efforts to improve sustainability and diversity.
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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.
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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.
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Khan Bank, the largest commercial bank in Mongolia, has been named best bank for environmental, social and governance in the country this year in recognition of its work to develop green financial products and services and to support sustainability.
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Trade and Development Bank (TDBM) takes the diversity and inclusion award in Mongolia this year thanks to its clear strategy to improve gender equality within and outside the bank.
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High mobile phone penetration in Mongolia has driven domestic banks to ramp up their digital transformation efforts. Khan Bank was the first in Mongolia to introduce internet banking in 2007. Its mobile application was launched in 2013, and in 2022, users of its digital platform totalled 1.7 million (close to 50% of the population), with the ratio of transactions made through digital channels over conventional reaching 99%.
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Khan Bank is Mongolia's best bank for small and medium-sized enterprises after having grown its business and commitment to the segment.
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Mongolia’s five big lenders have successfully completed their IPOs, doubling the size of the local stock market. But the challenge of attracting more foreign institutional investment remains.
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Being stuck between Russia and China has never put more pressure on Mongolia than in the past year. But the authorities and banks are making the best of a near-impossible situation – and succeeding in the process.
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Trade and Development Bank of Mongolia is considered a pioneer in the resources-rich country. Its momentum on sustainability has gained more steam over the years.
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Excelling at diversity is about much more than naming a couple of women to top jobs.
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Creating a version of Silicon Valley in Mongolia has always been the driving force behind LendMN, founded by Anar Chinbaatar, Boldbaatar Ochirsuren, Otgonbayar Uuye and Otgonbayar Purevsuren.
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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.
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In the past year, Trade and Development Bank of Mongolia consolidated its leading position as the universal banking service provider of choice for corporations.
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In the past year, Trade and Development Bank of Mongolia consolidated its leading position as the universal banking service provider of choice for corporations.
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No one does corporate social responsibility in the country on the scale of Trade and Development Bank of Mongolia, which pairs its CSR operations with its increasing commitment to sustainability in the local market.
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When Norihiko Kato took the helm of Golomt Bank in 2019, he had little idea of the global chaos to come. The Covid-19 pandemic greatly complicated plans to expand the bank’s business in the retail, corporate and small and medium-sized enterprise sectors. But Golomt succeeded anyway.
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The merger of Credit Bank with TransBank offers a template for Mongolia’s financial industry, which is ripe for more consolidation and better governance.
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The community of economies going green in a hurry has the unlikeliest of new members: coal-addicted Mongolia. Can the country shed its past?
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Anar Chinbaatar, one of five founders of LendMN, doesn’t claim to be able to see into the future. But it’s hard to think of an entrepreneur who did a better job of gearing a startup for where Mongolia would be six years on.
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Trade and Development Bank of Mongolia didn’t miss a step in 2020, its 30th anniversary year, when it strengthened its status as the nation’s best corporate and investment bank.
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With Khan Bank, the hard part is figuring out which of Asiamoney’s five awards for Mongolia it deserves most, given it checks pretty much all of the boxes.
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TransBank set a new standard for multi-tasking in 2021 as it pulled off a merger during an economy-shaking pandemic.
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In the 26 years since Golomt Bank opened its doors, it has rapidly grown into a premier commercial bank. In its first two decades, between 1995 and 2015, it expanded to the point where Golomt alone generated business equivalent to a quarter of Mongolia’s gross domestic product.