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2022
Month: April 2023
As of the first quarter of 2023, the bank’s total assets reached 1.1 trillion MNT, a 34 percent increase from the same period last year, and net profit was 3.5 billion MNT.
During the reporting period, the bank fully met the appropriateness criteria.
TransBank has established its first international representative office in Tokyo, the capital of Japan, and is increasingly expanding its product and service channels to deliver to customers. Also, Asia Fund and Gerege Systems Ltd. jointly started work on a benchmark project for the joint development of “Bank loan products for women entrepreneurs in micro and small businesses”.
Click here for the financial report for the first quarter of 2023.
(MNT million)
| Balance sheet | 31/03/2023 | |
| 1 | ASSET | |
| 1.1 | Cash and cash equivalents |
313,498 |
| 1.2 | Due from banks and financial institutions |
75,269 |
| 1.3 | Financial investments |
89,237 |
| 1.4 | Loans and advances to customers (net) |
567,373 |
| 1.4.1 | Performing loans |
508,338 |
| 1.4.3 | Non-performing loans |
76,442 |
| 1.4.4 | Deferred loan payment |
(134) |
| 1.4.5 | Accrued interest receivable |
14,405 |
| 1.4.6 | Loan Loss Provision |
(31,678) |
| 1.5 | Derivative financial assets |
4,412 |
| 1.6 | Other financial assets |
536 |
| 1.7 | Other non-financial assets |
19,452 |
| 1.8 | Fixed assets (net) |
24,351 |
| 1.9 | Intangible assets |
10,401 |
| 1.10 | Total assets |
1,104,529 |
| 2 | Liabilities | |
| 2.1 | Current account |
90,942 |
| 2.2 | Savings account |
439,542 |
| 2.3 | Due to banks and financial institutions |
339,762 |
| 2.4 | Other funds |
20,703 |
| 2.5 | Derivative financial liabilities |
5,743 |
| 2.6 | Other liabilities |
18,021 |
| 2.7 | Total liabilities |
914,713 |
| 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/ |
34,670 |
| 3.6 | Other reserves |
57 |
| 4 | Total equity |
189,816 |
| 5 | Total liabilities and equity |
1,104,529 |
(MNT million)
| Income statement | 31/03/2023 | |
| 1 | Interest income |
28,666 |
| 1.1 | From Bank of Mongolia |
1,450 |
| 1.2 | Other banks & financial institutions |
714 |
| 1.3 | From securities |
1,801 |
| 1.4 | From loans |
22,442 |
| 1.5 | Other interest income |
2,259 |
| 2 | Interest expense |
17,630 |
| 2.1 | Interest expense on current account |
436 |
| 2.2 | Interest expense on savings account |
13,279 |
| 2.3 | Interest expense on borrowed funds |
536 |
| 2.4 | Interest expense on securities |
490 |
| 2.5 | Other interest expense |
2,889 |
| 3 | Net interest income (1-2) |
11,036 |
| 4 | Provision expenses (provision reverse income) |
2,168 |
| 4.1 | Deposits at other banks and financial institutions |
– |
| 4.2 | Securities |
– |
| 4.3 | Loans |
2,168 |
| 5 | Net interest income after provision [(3)-(4)] |
8,868 |
| 6 | Other income |
7,141 |
| 6.1 | Non-interest income |
7,081 |
| 6.1.1 | Trading income |
2,262 |
| 6.1.2 | Exchange and revaluation adjustment expense |
4,365 |
| 6.1.3 | Fees and commission income |
409 |
| 6.1.4 | Other non-interest income |
45 |
| 6.2 | Other income |
60 |
| 7 | Other expense |
12,273 |
| 7.1 | Non-interest expense |
12,242 |
| 7.1.1 | Other provision expense |
158 |
| 7.1.2 | Trade expense |
2,407 |
| 7.1.3 | Exchange and revaluation adjustment expense |
3,082 |
| 7.1.4 | Fees and commission expense |
472 |
| 7.1.5 | Other operating expense |
6,123 |
| 7.2 | Other expense |
31 |
| 8 | Profit Before Tax (5+6-7) |
3,736 |
| 9 | Income tax expense |
200 |
| 10 | Profit After Taxes (8-9) |
3,536 |
| 11 | Other comprehensive income |
– |
| 12 | Total comprehensive income for the year (10+11) |
3,536 |
(MNT million)
| Off balance sheet items | 31/03/2023 |
| Contingencies and commitments (net) |
9,149 |
| Prudential ratios by the Bank of Mongolia | Limit | 31/03/2023 |
| Tier 1 ratio |
≥ 9% |
26.7% |
| Capital adequacy ratio |
≥ 12% |
26.7% |
| Liquidity |
≥ 25% |
37.6% |
| Foreign currency open position ratio (by each currency) |
< ±15% |
4.8% |
| Foreign currency open position ratio (total) |
< ±30% |
5.2% |
(MNT million)
| Related parties | Category of assets | Outstanding balance | % in total Equity | |
| 1 | Loans and other equivalent assets provided to a related party (less than 5% of capital) |
3.3% |
||
| 1.1 | Shareholders of the Bank |
– |
– |
0.0% |
| 1.2 | Key management personnel |
– |
– |
0.0% |
| 1.3 | Other related parties |
Loan |
6,315 |
3.3% |
| 2 | Total Loans and other equivalent assets provided to related parties (less than 20% of capital) |
14.3% |
||
| 2.1 | Shareholders of the Bank |
Loan |
100 |
0.1% |
| 2.2 | Key management personnel |
Loan |
1,344 |
0.7% |
| 2.3 | Other related parties |
Loan |
25,636 |
13.5% |
TranspBank provides a wide range of swift, optimal products and services to fulfill the needs of its customers in addition to cooperating with businesses and business owners operating in the economically significant sectors of Mongolia.
Alongside the blooming of the cherry blossoms, symbolizing the time of a new beginning, TransBank has successfully held the inauguration ceremony of its first international representative office in Tokyo, Japan on April 7th, 2023.
The long-lived friendly relationship, partnership, development and The Economic Cooperation Treaty between Japan and Mongolia has created a pleasant business environment to conduct our business enabling us to build a long-term close partnership with our customers and to establish the foundation of trust and near-future achievements.
Through our representative office, we will become a financial bridge to create opportunities of cooperation by connecting Japanese business owners and financial institutions to Mongolian businesses through providing accurate economic and market information of Mongolia.
Within the framework of sound cooperation and speed of growth based on the recognized needs of our customers, we are striving towards becoming a world-class bank.
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The Sakura Term Deposit is a secure savings product offered to customers in Japan, with competitive interest rates available for deposits in Mongolian Tugriks (MNT), as well as three other major foreign currencies.
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Within the framework of expanding its operations and increasing its market share, TransBank is engaging in various activities, including international banking, strengthening correspondent bank relations, and promoting Mongolia’s economic and market advantages to foreign organizations and entrepreneurs. As part of this effort, the bank has opened its representative office in Tokyo, Japan in accordance with the relevant laws of both countries based on the approvals granted by both the Financial Services Agency of Japan (on December 9, 2022) and the Bank of Mongolia (on January 25, 2023).
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Click here to learn more about TransBank.
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2023 оны 4-р сар
Олон улс дахь анхны төлөөлөгчийн газраа япон улсад нээлээ.