Month: April 2024

The Bank is under the constant supervision and regulation of the Bank of Mongolia because it accumulates and stores the funds of citizens, legal entities, and the public on the basis of mutual trust, and uses these resources to engage in financial intermediation activities, playing an important role in the country’s economic development and financial stability.

Law enforcement agencies conducted a search of the TransBank as part of a criminal investigation into certain prominent individuals, and it was reported on social media and some media outlets that the bank may have been involved in illegal activities.

Any person who becomes a significant shareholder of a bank or acts as a bank manager is subject to legal regulations that require permission and notification from the Bank of Mongolia, and the individuals named in the information are not shareholders or managers of the TransBank. It is also worth noting that the bank is not responsible for any obligations of the shareholder and is exempt from and separate from the liability of the shareholder.

The operations of the TransBank are conducted in accordance with the Law on Banking and relevant laws. While monitoring the financial condition and prudential criteria, the Bank of Mongolia is ready to take relevant measures in accordance with the law to ensure the stability of not only the bank itself but also the banking sector.

TransBank is pleased to announce its financial results for the first quarter of 2024.

As of the end of the reporting period, the Bank’s total assets remained stable at MNT 1.1 trillion, while net profit after tax reached MNT 5.7 billion, representing a 60% increase compared to the same period of the previous year.

Throughout the reporting period, TransBank fully complied with the prudential ratio requirements set by the Bank of Mongolia. In particular, the liquidity ratio stood at 30.1%, and the capital adequacy ratio was 23.0%. The Bank’s deposit and current account portfolio reached MNT 737 billion, while its loan portfolio expanded to MNT 706 billion, reflecting strengthened cooperation with clients and partners.

To view the full Q1 2024 financial report, please CLICK HERE.

TransBank 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 7^th, 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.