| MNT | USD | JPY | |
| Duration | 3 months | ||
| Annual interest rate | 8.0%-10.0%* | 2.0 -2.5% | 1.50%-2.0% |
| Minimum deposit | 10,000 төгрөг | 10 ам.доллар | 1,000 иен |
| Interest capitalization | Monthly | ||
| Deposit condition | Possible | ||
| Withdrawal condition | can spend at any time | ||
*Incentive interest is granted depending on the balance of deposits.
As of the end of the third quarter of 2022, the total assets of the bank reached 915.6 billion MNT, which is 39.3 percent from the same period in 2021, and the net profit reached 10.7 billion MNT, an increase of 13.5 percent compared to the same period of the previous year.
During the reporting period, the bank has fully met the indicators of appropriate ratio of operations.
The bank continues to expand its business scope by establishing a tripartite cooperation memorandum with the “Asian Business Association NGO” and “Educated Enterprise LLC” and a memorandum of cooperation with the “Asia Foundation in Mongolia” to support women’s entrepreneurship.
“Multi-currency nostro account” is opened in “Erste” bank of Austria, increasing the possibility of foreign payments for our customers.
Click here to view the financial statements for the third quarter of 2022.
(in millions of MNT)
| BALANCE SHEET ITEMS | 31/12/2021 | 30/09/2022 | ||
| 1 | ASSET | |||
| 1.1 | Cash and cash equivalents | 131,425 | 212,181 | |
| 1.2 | Due from banks and financial institutions | 28,907 | 60,848 | |
| 1.3 | Financial investments | 82,961 | 21,778 | |
| 1.4 | Loans and advances to customers (net) | 423,569 | 510,101 | |
| 1.4.1 | Performing loans | 416,828 | 434,219 | |
| 1.4.2 | Non-performing loans | 11,722 | 92,120 | |
| 1.4.3 | Deferred loan payment | (126) | (118) | |
| 1.4.4 | Accrued interest receivable | 6,219 | 9,423 | |
| 1.4.5 | Loan Loss Provision | (19,415) | (25,544) | |
| 1.5 | Derivative financial assets | 36 | 2,515 | |
| 1.6 | Other financial assets | 42 | 120 | |
| 1.7 | Other non-financial assets | 34,630 | 86,279 | |
| 1.8 | Fixed assets (net) | 11,459 | 12,249 | |
| 1.9 | Intangible assets | 10,024 | 9,577 | |
| 1.10 | Total assets | 723,053 | 915,647 | |
| 2 | LIABILITIES | |||
| 2.1 | Current account | 58,149 | 102,051 | |
| 2.2 | Savings account | 259,021 | 369,787 | |
| 2.3 | Due to banks and financial institutions | 132,946 | 221,271 | |
| 2.4 | Other funds | 82,048 | 26,075 | |
| 2.5 | Derivative financial liabilities | 20 | 3,404 | |
| 2.6 | Other liabilities | 8,165 | 6,694 | |
| 2.7 | Total liabilities | 540,349 | 729,282 | |
| 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 | 24,092 | |
| 3.6 | Other reserves | 138 | 7,184 | |
| 4 | Total equity | 182,704 | 186,365 | |
| 5 | TOTAL LIABILITIES AND EQUITY | 723,053 | 915,647 | |
(in millions of MNT)
| INCOME STATEMENT | 31/12/2021 | 30/09/2022 | |
| 1 | Interest income | 50,684 | 59,723 |
| 1.1 | From Bank of Mongolia | 132 | 89 |
| 1.2 | From Other banks & financial institutions | 855 | 1,525 |
| 1.3 | From securities | 4,493 | 3,612 |
| 1.4 | From loans | 44,370 | 51,530 |
| 1.5 | Other interest income | 834 | 2,968 |
| 2 | Interest expense | 24,882 | 30,329 |
| 2.1 | Interest expense on current account | – | – |
| 2.2 | Interest expense on savings account | 19,963 | 25,124 |
| 2.3 | Interest expense on borrowed funds | 1,948 | 1,818 |
| 2.4 | Interest expense on securities | 1,574 | 1,468 |
| 2.5 | Other interest expense | 1,397 | 1,918 |
| 3 | NET INTEREST INCOME (1-2) | 25,802 | 29,394 |
| 4 | Provision expenses (provision reverse income) | 599 | 4,807 |
| 4.1 | Deposits at other banks and financial institutions | 327 | – |
| 4.2 | Securities | 25 | – |
| 4.3 | Loans | 247 | 4,807 |
| 5 | Net interest income after provision [(3)-(4)] | 25,203 | 24,587 |
| 6 | Other income | 4,249 | 20,001 |
| 6.1 | Non-interest income | 4,249 | 19,761 |
| 6.1.1 | Trading income | 3,393 | 11,579 |
| 6.1.2 | Exchange and revaluation adjustment expense | 349 | 7,201 |
| 6.1.3 | Fees and commission income | 507 | 977 |
| 6.1.4 | Other non-interest income | – | 5 |
| 6.2 | Other income | – | 240 |
| 7 | Other expense | 15,559 | 31,735 |
| 7.1 | Non-interest expense | 15,194 | 31,401 |
| 7.1.1 | Other provision expense | 1 | 0 |
| 7.1.2 | Trade expense | 1,936 | 8,410 |
| 7.1.3 | Exchange and revaluation adjustment expense | 429 | 6,339 |
| 7.1.4 | Fees and commission expense | 462 | 855 |
| 7.1.5 | Other operating expense | 12,366 | 15,797 |
| 7.2 | Other expense | 365 | 334 |
| 8 | Profit Before Tax (5+6-7) | 13,893 | 12,853 |
| 9 | Income tax expense | 2,441 | 2,160 |
| 10 | Profit After Taxes (8-9) | 11,452 | 10,693 |
| 11 | Other comprehensive income | 92 | – |
| 12 | Total comprehensive income for the year (10+11) | 11,544 | 10,693 |
(in millions of MNT)
| OFF BALANCE SHEET | 31/12/2021 | 30/09/2022 |
| Contingencies and commitments (net) | 16,939 | 12,841 |
| PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA | Limit | 30/09/2022 |
| Tier 1 ratio | ≥ 9% | 26.2% |
| Capital adequacy ratio | ≥ 12% | 26.2% |
| Liquidity | ≥ 25% | 30.3% |
| Foreign currency open position ratio (by each currency) | < ±15% | 6.0% |
| Foreign currency open position ratio (total) | < ±30% | -16.8% |
(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) | 4.8% | ||
| 1.1 | Shareholders of the Bank | – | – | 0.0% |
| 1.2 | Key management personnel | – | – | 0.0% |
| 1.3 | Other related parties | Loan | 8,851 | 4.8% |
| 2 | Total Loans and other equivalent asset provided to related parties (less than 20% of capital) | 18.9% | ||
| 2.1 | Shareholders of the Bank | Loan | 100 | 0.1% |
| 2.2 | Key management personnel | Loan | 350 | 0.2% |
| 2.3 | Other related parties | Loan | 34,472 | 18.7% |
On October 10th, 2022, TransBank got into a tri-party agreement with Zamiin-Uud Free Zone’s Director’s Office and KKTT KKC to introduce WeChat Pay inside the Free Zone area of Zamiin-Uud.
The benefit of this partnership will provide opportunity for citizens, companies and organizations to implement the payment system of WeChat Pay with ease and speed.
Parties involved in the agreement plan to expand the operation and work to maintain stable partnership.
In May 2022, TransBank and KKTT LLC successfully introduced the payment system of WeChat Pay.
The operation currently involves the conversion of service centers, restaurants, hotels, and other organizations which are popular among Chinese citizens, to become merchants and ultimately implement the payment system for each partner.
With the help of WeChat Pay’s system infrastructure, we enabled the opportunity to receive payments directly from Chinese citizens.
Once every year on October 31, people worldwide celebrate “World Savings Day’ to raise awareness of the benefits of savings and accumulation.
To welcome this special day, Mongol Bank, Mongolian Banking Association, Germany’s Sparkasse Bank (Local Fund), Deposit Insurance Corporation of Mongolia, and several Mongolian banks are going into a partnership for the “Let us Save For Our Future’ campaign.
For this occasion, TransBank will lower the requirements for the Term Deposit product to 0 tugriks and provide gifts to kids who opened the Golden Coin Kid’s Deposit.
TransBank welcomes you to come and visit a branch that’s nearest to you and receive this promotion.
“Let’s Save For Our Future”
Within the framework of social responsibility, based on the initiative of our employees, useful items and more than 1000 books have been donated to the “Tsuliin Sarnai” care center.