Month: January 2023

News

TRANSBANK’S UNAUDITED FINANCIAL STATEMENT FOR 2022 Q4

Post author By Nasantsatsral B
Post date January 30, 2023

The total assets of TransBank have increased by 26.3% from the previous quarter, reaching a total of MNT 1.16 trillion. During the reporting period, the Bank fully complied with the prudential ratio requirements, operating with an equity of MNT 186.5 billion and a net profit of MNT 10.9 billion.

In November 2022, the international rating agency Moody’s affirmed TransBank’s credit rating as “B3”, maintaining the outlook as “Stable” for the fourth consecutive year.

During the reporting period, we have successfully expanded our online banking and international banking services, with significant growth in our customer base and financial results. Within the framework of an integrated objective of expanding long-term and mutually beneficial partnerships with our customers, TransBank is working to create a distinctive advantage for the Bank further and improve its services in accessibility, scope, efficiency, and competitiveness.

Click here to view the financial statements for the fourth quarter of 2022.

Quarterly financial statements

As of December 31, 2022

Post author By Telmuun Gankhuyag
Post date January 26, 2023

(in millions of MNT)

BALANCE SHEET ITEMS		31/12/2022
1	ASSET
1.1	Cash and cash equivalents	484,176
1.2	Due from banks and financial institutions	69,136
1.3	Financial investments	12,290
1.4	Loans and advances to customers (net)	549,812
1.4.1	Performing loans	490,950
1.4.2	Non-performing loans	77,125
1.4.3	Deferred loan payment	(140)
1.4.4	Accrued interest receivable	11,337
1.4.5	Loan Loss Provision	(29,460)
1.5	Derivative financial assets	3,416
1.6	Other financial assets	694
1.7	Other non-financial assets	3,369
1.8	Fixed assets (net)	22,988
1.9	Intangible assets	10,490
1.10	Total assets	1,156,371
2	LIABILITIES
2.1	Current account	120,912
2.2	Savings account	400,133
2.3	Due to banks and financial institutions	404,289
2.4	Other funds	20,560
2.5	Derivative financial liabilities	5,610
2.6	Other liabilities	18,409
2.7	Total liabilities	969,913
3	EQUITY
3.1	Share capital	146,474
3.2	Share premium	15,647
3.3	Treasury shares	(7,032)
3.4	Revaluation surplus	–
3.5	Retained earnings /loss/	30,255
3.6	Other reserves	1,114
4	Total equity	186,458
5	TOTAL LIABILITIES AND EQUITY	1,156,371

(in millions of MNT)

INCOME STATEMENT		31/12/2022
1	Interest income	84,938
1.1	From Bank of Mongolia	415
1.2	From Other banks & financial institutions	2,582
1.3	From securities	4,372
1.4	From loans	72,480
1.5	Other interest income	5,089
2	Interest expense	45,939
2.1	Interest expense on current account	–
2.2	Interest expense on savings account	37,816
2.3	Interest expense on borrowed funds	2,376
2.4	Interest expense on securities	1,711
2.5	Other interest expense	4,036
3	NET INTEREST INCOME (1-2)	38,999
4	Provision expenses (provision reverse income)	9,225
4.1	Deposits at other banks and financial institutions	768
4.2	Securities	73
4.3	Loans	8,384
5	Net interest income after provision [(3)-(4)]	29,774
6	Other income	31,889
6.1	Non-interest income	31,440
6.1.1	Trading income	19,213
6.1.2	Exchange and revaluation adjustment expense	10,838
6.1.3	Fees and commission income	1,389
6.1.4	Other non-interest income	–
6.2	Other income	449
7	Other expense	48,238
7.1	Non-interest expense	47,591
7.1.1	Other provision expense	58
7.1.2	Trade expense	15,191
7.1.3	Exchange and revaluation adjustment expense	9,883
7.1.4	Fees and commission expense	1,108
7.1.5	Other operating expense	21,351
7.2	Other expense	647
8	Profit Before Tax (5+6-7)	13,425
9	Income tax expense	2,560
10	Profit After Taxes (8-9)	10,865
11	Other comprehensive income	(80)
12	Total comprehensive income for the year (10+11)	10,785

(in millions of MNT)

OFF BALANCE SHEET	31/12/2022
Contingencies and commitments (net)	11,078

PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA	Limit	31/12/2022
Tier 1 ratio	≥ 9%	26.9%
Capital adequacy ratio	≥ 12%	26.9%
Liquidity	≥ 25%	37.0%
Foreign currency open position ratio (by each currency)	< ±15%	-2.6%
Foreign currency open position ratio (total)	< ±30%	-3.2%

(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)			4.9%
1.1	Shareholders of the Bank	–	–	0.0%
1.2	Key management personnel	–	–	0.0%
1.3	Other related parties	Loan	9,140	4.9%
2	Total Loans and other equivalent asset provided to related parties (less than 20% of capital)			18.5%
2.1	Shareholders of the Bank	Loan	100	0.1%
2.2	Key management personnel	Loan	331	0.2%
2.3	Other related parties	Loan	34,020	18.2%

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How long does an international wire transfer take?

Post author By Nasantsatsral B
Post date January 6, 2023

International wire transfers take approximately 1 to 3 business days.

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What should a customer consider when making international remittances?

Post author By Nasantsatsral B
Post date January 6, 2023

Detailed information about the beneficiary name, account number, full address, beneficiary bank’s swift code, name, address, and remittance purpose must be filled in accurately and legibly.

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What are the currencies used for international remittances?

Post author By Nasantsatsral B
Post date January 6, 2023

We offer international remittances services in all major currencies including USD, GBP, RUB, JPY, CNY, EUR, HKD, and SGD.

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How to increase your daily transaction limit for internet banking?

Post author By Nasantsatsral B
Post date January 6, 2023

For an individual:

Please visit any of the TransBank branch with your ID card or please send your request to info@transbank.mn from your registered email address.

For a legal entity:

Please visit any of the TransBank branch with an official letter request or please send your request to info@transbank.mn from the legal entity’s registered email address.

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What should a customer do if he/she forgot the internet banking login name and email address?

Post author By Nasantsatsral B
Post date January 6, 2023

In this case, you can visit the branch with your ID or by calling our Customer Service Center at 7716-9999 for your login name

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What is a one-time password (OTP) and in which case to get it?

Post author By Nasantsatsral B
Post date January 6, 2023

А one-time password is used when accessing from new devices as well as transactions above MNT 3.0 million., you can receive it through the email, SMS, and/or OTP application. Please note that a one-time password is valid for 2 minutes!

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What should a customer do if he/she forgot the internet banking login password?

Post author By Nasantsatsral B
Post date January 6, 2023

You can reset your password by calling the Customer Service Center at 7716-9999. You can also reset your password by going to the “Password Recovery” section of the Transbank application and entering your You may also reset your password by visiting any of our branches with your ID card.

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How to register for an internet banking service?

Post author By Nasantsatsral B
Post date January 6, 2023

For an individual:

You may open our internet banking service at any of TransBank branch with your ID card.

For a legal entity:

We request an official letter signed by an authorized signature and copy of ID card.

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АТМ withdrawal limit: How much can you withdraw?

Post author By Nasantsatsral B
Post date January 6, 2023

You can withdraw up to MNT 3.0 million through ATMs.

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Can you deposit cash at to ATM?

Post author By Nasantsatsral B
Post date January 6, 2023

Cash deposit is not available at ATM.

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New PIN code generation at the ATM?

Post author By Nasantsatsral B
Post date January 6, 2023

You can change your current PIN code at any ATM of Trade and Development Bank.

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Fees charged on PIN code change and balance inquiries at ATMs?

Post author By Nasantsatsral B
Post date January 6, 2023

You may change the card PIN code as well as get an E-PIN code at any ATMs of Trade and Development Bank with the charge of MNT 100.

There is no fee charged for a balance inquiry. /only if you request a printed statement, the fee of MNT 100 is charged/.

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Does the ATM charge a fee to withdraw cash?

Post author By Nasantsatsral B
Post date January 6, 2023

There is no fee if you withdraw an amount greater than MNT 100,000 from the banks’ ATMs.

A fee of MNT 300 will be charged for cash withdrawals from Trade and Development Bank, Chinggis Khaan Bank, Bogd Bank, Arig Bank, and National Investment Bank.

A fee of MNT 500 will be charged for cash withdrawals from other banks’ ATMs.