Month: July 2022

Categories
Internal audit

The internal audit department is create the desired results in bank and customer, increase the value of operations, in order to improve:

  1. Bank’s internal control system
  2. Risk management system
  3. Independent implementation of governance principles, Confirm with a realistic approach, engaged in consulting activities.

Internal audit unit is works on the principle of reporting its work in audit committee, works on the principle of reporting in Executive management. The Board and the Audit Committee are ensure independence in internal audit, implements step-by-step measures in strengthen human resources.

The Internal audit department is evaluates the internal control system in accordance with the principles of The Committee of Sponsoring Organizations of the Treadway (COSO) and free from conflict of interest, real, principle of fairness is implemented of the risk based general, information technology audit,

Categories
News

TRANSPORT AND DEVELOPMENT BANK PRESENTS ITS FINANCIALS FOR SECOND QUARTER OF 2022

As of second quarter of 2022, the total asset of the Bank reached MNT 837.2 billion, an increase of 102% compared to the same period in 2021, while the net profit reached MNT 9.8 billion, increasing by 145% compared to the same period of the previous year.

During the reporting period, the Bank fully complied with the prudential ratios set by the Bank of Mongolia and implemented a new risk based approach into its operations. As of first half of the 2021, the NPL ratio of the Bank stood at 3.1%, which is significantly lower than the banking sector average.

Furthermore, in order to expand the scope of our operations and to bring our services closer to our customers, the Bank has opened 3 new branches (Premium, Cedar and Munkh Tower), bringing the total number of branches to 11. We would also like to highlight introduction of the WeChat Pay international payment system by the Bank, which enables our customers access to 64 countries and range of new opportunities.

As of June 30, 2022, in accordance with Article 4, Clause 4.2 of the Banking Law and Article 4 of the Procedures on Complying with the Amendment to the Banking Law, we are pleased to announce that Transport and Development Bank has been restructured as Closed Joint Stock Company.

Click here to view the financial report for the second quarter of 2022.

Categories
Quarterly financial statements

Year-2022 Quarter- 2

(in millions of MNT)

BALANCE SHEET ITEMS 31/12/2021 30/06/2022
1 ASSET
1.1 Cash and cash equivalents             131,425                     162,346
1.2 Due from banks and financial institutions               28,907                       56,337
1.3 Financial investments               82,961                       41,330
1.4 Loans and advances to customers (net)             423,569                     494,759
1.4.1 Performing loans             416,828                   491,699
1.4.2 Non-performing loans               11,722                       15,638
1.4.3 Deferred loan payment                   (126)                           (147)
1.4.4 Accrued interest receivable                 6,219                         9,983
1.4.5 Loan Loss Provision             (19,415)                     (22,414)
1.5 Derivative financial assets                       36                         1,318
1.6 Other financial assets                       42                            144
1.7 Other non-financial assets               34,630                       58,518
1.8 Fixed assets (net)               11,459                       12,585
1.9 Intangible assets               10,024                         9,913
1.10 Total assets             723,053                     837,249
2 LIABILITIES
2.1 Current account               58,149                     111,974
2.2 Savings account             259,021                     304,096
2.3 Due to banks and financial institutions             132,946                     177,022
2.4 Other deposits               82,048                       47,042
2.5 Derivative financial liabilities                       20                         2,255
2.6 Other liabilities                 8,165                         9,362
2.7 Total liabilities             540,349                     651,751
3 EQUITY
3.1 Share capital             146,474                     146,474
3.2 Share premium               15,645                       15,645
3.3 Treasury shares                        –                       (7,032)
3.4 Revaluation surplus                         1                                 1
3.5 Retained earnings /loss/               20,446                       30,272
3.6 Other reserves                     138                            138
4 Total equity             182,704                     185,498
5 TOTAL LIABILITIES AND EQUITY             723,053                     837,249

 

(in millions of MNT)

INCOME STATEMENT 31/12/2021 30/06/2022
1 Interest income               50,684                       40,320
1.1 From Bank of Mongolia                     132                               60
1.2 From Other banks & financial institutions                     855                         1,039
1.3 From securities                 4,493                         2,753
1.4 From loans               44,370                       34,933
1.5 Other interest income                     834                         1,535
2 Interest expense               24,882                       19,420
2.1 Interest expense on current account                        –                                –
2.2 Interest expense on savings account               19,963                       15,863
2.3 Interest expense on borrowed funds                 1,948                         1,302
2.4 Interest expense on securities                 1,574                         1,104
2.5 Other interest expense                 1,397                         1,151
3 NET INTEREST INCOME (1-2)               25,802                       20,900
4 Provision expenses (provision reverse income)                     599                         2,216
4.1 Deposits at other banks and financial institutions                     327                                –
4.2 Securities                       25                                –
4.3 Loans                     247                         2,216
5 Net interest income after provision [(3)-(4)]               25,203                       18,684
6 Other income                 4,249                       13,250
6.1 Non-interest income                 4,249                       13,101
6.1.1 Trading income                 3,393                         8,236
6.1.2 Exchange and revaluation adjustment expense                     349                         4,273
6.1.3 Fees and commission income                     507                            588
6.1.4 Other non-interest income                        –                                 4
6.2 Other income                        –                              149
7 Other expense               15,559                       20,127
7.1 Non-interest expense               15,194                       19,856
7.1.1 Other provision expense                         1                                 –
7.1.2 Trade expense                 1,936                         5,315
7.1.3 Exchange and revaluation adjustment expense                     429                         4,290
7.1.4 Fees and commission expense                     462                            596
7.1.5 Other operating expense               12,366                         9,655
7.2 Other expense                     365 271
8 Profit Before Tax (5+6-7)               13,893                       11,807
9 Income tax expense                 2,441                         1,981
10 Profit After Taxes (8-9)               11,452                         9,826
11 Other comprehensive income                       92                                –
12 Total comprehensive income for the year (10+11)               11,544                         9,826

 

(in millions of MNT)

OFF BALANCE SHEET 31/12/2021 30/06/2022
Contingencies and commitments (net)               16,939                       20,462

 

PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA Limit 30/06/2022
Tier 1 ratio ≥ 9% 29.4%
Capital adequacy ratio ≥ 12% 29.4%
Liquidity ≥ 25% 31.1%
Foreign currency open position ratio (by each currency) < ±15% -5.3%
Foreign currency open position ratio (total) < ±30% -9.2%

 

(in millions of MNT)

Related parties Category of assets Balance % in total Equity
1 Loans and other equivalent asset provided to a related party (less than 5% of capital) 4.5%
1.1 Shareholders of the Bank                                –                        – 0.0%
1.2 Key management personnel                                –                        – 0.0%
1.3 Other related parties Loan                 8,289 4.5%
2 Total Loans and other equivalent asset provided to related parties (less than 20% of capital) 18.3%
2.1 Shareholders of the Bank Loan                     100 0.1%
2.2 Key management personnel Loan                     279 0.2%
2.3 Other related parties Loan               33,615 18.1%
Categories
List of licensed agents

Branch name

 Name License date

Location
Head office GARAVSUREN.N 2023 Shangri-La Office, 19A Olimpic St, 1st khoroo,  Sukhbaatar district, Ulaanbaatar, Mongolia
Ard Branch MICHIDMAA.B 2023 1st floor, Building B8, Baga Toiruu St-9, 1st Khoroo, Chingeltei District, Ulaanbaatar, Mongolia
Naran Branch ENKHBAT.G 2020 1ST, 2ND floor, Naran Mall Department Store, Seoul St-35, 3rd Khoroo, Sukhbaatar District, Ulaanbaatar, Mongolia
Munkh tower branch ARIUNTUGS.E 2023 1st floor, Munkh Tower, Chinggis Avenue Street, 1st Khoroo, Khan-Uul District, Ulaanbaatar, Mongolia
MUNKHZUL.G 2023
Central Tower Branch BOLORMAA.Z 2020 4th floor, Central Tower, Sukhbaatar square-2 , 8th Khoroo, Sukhbaatar District, Ulaanbaatar, Mongolia
USUKHBAYAR.B 2023
Cedar Branch TUNGALAG.A 2022 1st floor, Cedar City Residence Town, 4th Khoroo, Khan-Uul District, Ulaanbaatar, Mongolia
Sakura Branch BAYARMAA.G 2022 1st floor, Sakura Building Center, Ikh Mongol St, 26th Khoroo, Bayanzurkh District, Ulaanbaatar, Mongolia
Shangri-la Branch BILGUUN.N 2022 6th floor, Shangri-La Office, 19A Olympic St, 1st Khoroo,  Sukhbaatar District, Ulaanbaatar, Mongolia
DAGIIMAA.O 2022
Zuun durvun zam branch KHUSLEN.B 2023 1st floor of Naran Shopping Mall’s 2nd Building, 15th Khoroo, Bayanzurkh District, Ulaanbaatar, Mongolia
Premium branch BAYARMAA.G 2023 2nd floor, Premium Palace, Ikh Toiruu St, 5th Khoroo, Chingeltei District, Ulaanbaatar, Mongolia
River garden branch ENKHNARAN.B 2022 1st floor, Building 308, River Garden Town, Ikh Mongol St, 11th Khoroo, Khan-Uul District, Ulaanbaatar, Mongolia
Categories
Exclusive Trip

Exclusive Trip offers you great opportunities of being protected financially, while traveling in Mongolia. We never know what happens in the future if there is some bad luck of getting into an accident, food poisoning or any chronic conditions raise ups, that can interrupt your whole journey with a  life threatening  scenes. In such cases, we should always be protective to take the action  to reduce further losses.  The Exclusive Trip is a right insurance, that you can be protected financially and enjoy your journey with a peace of mind. If there is an emergency during the trip,  Exclusive Trip will pay you for the air ambulance to Ulaanbaatar and hospitalization treatments.

 

Please e-mail us for more information reaching our experts or contact:

E-mail: daatgal@transbank.mn
Tel: +976 7716-9999

Categories
Credit Med

The most favorable way to protect your health and save money for medical expenses is to have a Credit Med insurance policy.

Categories
Exclusive Home

Insurance is the smartest way to save money. The “Exclusive Home” is  the best, true cover for protecting your home financially

Categories
Exclusive Auto

This is true insurance that offers you Exclusive cover because your car is exclusive.

Categories
Exclusive Home

Benefits

  • If your home has burnt down, been ruined in the water damage, or been damaged with any kinds of natural disasters, the Exclusive Home will pay for the repair expenses in calculated Rebuilding cost.
  • The pools, yard, trees, and bushes are covered and Exclusive Home will pay for rebuilding and regrowing.
  • The arts, antique statues are covered, if you want the additional cover for precious your collections.
  • Exclusive Home will provide you with experts having free risk survey once a policy year.
Categories
Credit Med

Benefits

  • Credit Med will pay you for the expenses of visiting doctors, having medical check-ups, analyses, and treatments.
  • If you have a saving account with TransBank, you will be provided with an exclusive credit card for medical expenses.
  • Credit Med will provide the guarantee to the hospitals using direct billing payment methods to the local hospitals of Mongolia.
  • You are given the option of choosing annual health screening limits up to 100,000.-500,000.tugrics as your Policy benefits.
  • Your vaccination expenses are covered under Credit Med.
  • In case of the life-threatening diseases such as cancer, organ transplantation, Credit Med policy will pay the expenses up to 40 million tugriks.
  • If you are diagnosed with cancer, Credit Med will pay 10 million tugriks of cash directly to your account as cancer cash benefit to support you both emotionally and financially and you do not need to collect the medical payment receipts to get cancer cash benefit.
  • Please note that COVID-19 treatment, PCR analyses or quarantine expenses are not covered under Credit Med.
Categories
Exclusive Auto

Benefits

  • No need of bringing the police report at a road accident, if there is no bodily injury.
  • We promise, there will not be any disappointment in decreasing your insurance payment for recovering your loss, instead the Exclusive Auto will pay the full repair cost at the distributor’ body shop.
  • The Exclusive Auto will provide you with a car during the repair period of your car at the shop.
  • There will not be required loss adjuster’s report if there is no bodily injury and no third party involvement.
  • If you have trouble while driving in the countryside, the towing cost to Ulaanbaatar will be paid from your Exclusive Auto insurance.
Categories
Exclusive Insurance

What’s Exclusive insurance? This is our brand new products that offer Exclusive cover and more solutions compared to the other insurance products in the market, designed with the broad cover, limits and special services.  For example, if you buy home insurance,  you can get the Exclusive cover for your home, home appliances, and  free cover for your lovely brand bags, sports goods,  and even the trees, rose bushes growing in your home garden. That’s why we call it Exclusive.

Categories
Exclusive Insurance

Benefits

  • The broad cover & limits at a lower price.
  • The fastest claim settlement within 2-3 days.
  • The expertsь highly experienced specialists that can serve you because you are exclusive
  • You will have many options &advantages such as paying the premium in monthly installments and getting paid for your claim fully no matter how you pay.
Categories
Promotion campaign

LAUNCHED THE CAMPAIGN TO UPDATE CUSTOMER INFORMATION

Trans Bank has launched a Customer information update campaign through all our branches to protect our customers from potential financial risks.

In accordance with relevant laws, commercial banks are obligated to update customers information.

Thus, we encourage you as our customers to join in on the campaign and update your personal and business information. By doing so, you will be better protected against fraud or third-party attacks.

The campaign will run until 31st August 2022, please visit the closest branch to update and confirm your personal information.

The following information is to be updated:

Individuals Businesses
●      Contact number;

●      E-mail;

●      Permanent residential address;

●      Employment information;

●      Renew any expired documents.

 

 ●      Legal entity name, state registration information, company charter;

●      Business sectors and activity;

●      Address, phone number, e-mail;

●      Ultimate Beneficial Owner, executive management, information of those in authority;

●      Special permit term.

 

For more information please contact our customer service center at 7716-9999 or by visiting the closest branch to you.

Trans bank – Your financial partner to accelerate the development.

Categories
News

DEAR VALUED CUSTOMERS

INTERBANK TRANSACTION

Please be informed that interbank transactions worth more than MNT 5,000,000.00 (five million tugrugs) or equivalent foreign currencies made between 4:20 p.m. on July 8, 2022 and 9:59 a.m. on July 18, 2022 will be credited to the beneficiary’s account on July 18, 2022. Kindly also note that international remittances made between the same period will be credited to the beneficiary’s account after July 18, 2022.

Should you have any enquiries, kindly contact our Call Centre at 7716-9999.

  • TIME SCHEDULE

On July 11-15, 2022

ALL BRANCHES CLOSES.

NARAN BRANCH

On July 09/10, July 16/17, 09:00 am – 07:00 pm.

1ST, 2ND floor, Naran Mall Department Store, Seoul St-35, 3rd khoroo, Sukhbaatar District, Ulaanbaatar, Mongolia

Thank you for banking with us.