Month: January 2023

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News

TRANSBANK’S UNAUDITED FINANCIAL STATEMENT FOR 2022 Q4

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.

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Quarterly financial statements

As of December 31, 2022

(in millions of MNT)

BALANCE SHEET ITEMS 31/12/2021 31/12/2022
1 ASSET
1.1 Cash and cash equivalents

            131,425

 484,176

1.2 Due from banks and financial institutions

              28,907

 69,136

1.3 Financial investments

              82,961

 12,290

1.4 Loans and advances to customers (net)

            423,569

 549,812

1.4.1 Performing loans

            425,169

 490,950
1.4.2 Non-performing loans

              11,722

 77,125
1.4.3 Deferred loan payment

                  (126)

 (140)
1.4.4 Accrued interest receivable

                6,219

 11,337
1.4.5 Loan Loss Provision

            (19,415)

 (29,460)
1.5 Derivative financial assets

                      36

 3,416

1.6 Other financial assets

                      42

 694

1.7 Other non-financial assets

              34,630

 3,369

1.8 Fixed assets (net)

              11,459

 22,988

1.9 Intangible assets

              10,024

 10,490

1.10 Total assets

            723,053

 1,156,371

2 LIABILITIES
2.1 Current account

              58,149

 120,912
2.2 Savings account

            259,021

 400,133
2.3 Due to banks and financial institutions

            132,946

 404,289
2.4 Other funds

              82,048

 20,560
2.5 Derivative financial liabilities

                      20

 5,610
2.6 Other liabilities

                8,165

 18,409
2.7 Total liabilities

            540,349

969,913
3 EQUITY
3.1 Share capital

            146,474

                 146,474
3.2 Share premium

              15,645

 15,647
3.3 Treasury shares

                       –

 (7,032)
3.4 Revaluation surplus

                        1

 –
3.5 Retained earnings /loss/

              20,446

 30,255
3.6 Other reserves

                   138

 1,114
4 Total equity

            182,704

 186,458

5 TOTAL LIABILITIES AND EQUITY

            723,053

 1,156,371

 

(in millions of MNT)

INCOME STATEMENT

31/12/2021

31/12/2022
1 Interest income

              50,684

 84,938

1.1 From Bank of Mongolia

                  132

 415
1.2 From Other banks & financial institutions

                  855

 2,582
1.3 From securities

               4,493

 4,372
1.4 From loans

             44,370

 72,480
1.5 Other interest income

                  834

 5,089
2 Interest expense

             24,882

 45,939

2.1 Interest expense on current account

                      –

 –
2.2 Interest expense on savings account

             19,963

 37,816
2.3 Interest expense on borrowed funds

               1,948

 2,376
2.4 Interest expense on securities

               1,574

 1,711
2.5 Other interest expense

               1,397

 4,036
3 NET INTEREST INCOME (1-2)

             25,802

 38,999

4 Provision expenses (provision reverse income)

                  599

 9,225

4.1 Deposits at other banks and financial institutions

                  327

 768
4.2 Securities

                    25

 73
4.3 Loans

                  247

 8,384
5 Net interest income after provision [(3)-(4)]

             25,203

 29,774

6 Other income

               4,249

 31,889

6.1 Non-interest income

               4,249

 31,440

6.1.1 Trading income

               3,393

 19,213
6.1.2 Exchange and revaluation adjustment expense

                  349

 10,838
6.1.3 Fees and commission income

                  507

 1,389
6.1.4 Other non-interest income

                      –

 –
6.2 Other income

                     –

 449
7 Other expense

            15,559

 48,238

7.1 Non-interest expense

             15,194

 47,591

7.1.1 Other provision expense

                     1

 58
7.1.2 Trade expense

              1,936

 15,191
7.1.3 Exchange and revaluation adjustment expense

                 429

 9,883
7.1.4 Fees and commission expense

                 462

 1,108
7.1.5 Other operating expense

            12,366

 21,351
7.2 Other expense

                 365

 647

8 Profit Before Tax (5+6-7)

            13,893

 13,425

9 Income tax expense

              2,441

 2,560
10 Profit After Taxes (8-9)

             11,452

 10,865

11 Other comprehensive income

                 92

 (80)
12 Total comprehensive income for the year (10+11)

           11,544

 10,785

 

(in millions of MNT)

OFF BALANCE SHEET 31/12/2021 31/12/2022
Contingencies and commitments (net)

             16,939

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?

International wire transfers take approximately 1 to 3 business days.

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What should a customer consider when making international remittances?

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?

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?

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?

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?

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?

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?

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?

You can withdraw up to MNT 3.0 million through ATMs.

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Can you deposit cash at to ATM?

Cash deposit is not available at ATM.

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New PIN code generation at the ATM?

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?

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?

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.