As of second quarter of 2022, the total asset of the Bank reached MNT 837.2 billion, an increase of 102% compared to the same period in 2021, while the net profit reached MNT 9.8 billion, increasing by 145% compared to the same period of the previous year.
During the reporting period, the Bank fully complied with the prudential ratios set by the Bank of Mongolia and implemented a new risk based approach into its operations. As of first half of the 2021, the NPL ratio of the Bank stood at 3.1%, which is significantly lower than the banking sector average.
Furthermore, in order to expand the scope of our operations and to bring our services closer to our customers, the Bank has opened 3 new branches (Premium, Cedar and Munkh Tower), bringing the total number of branches to 11. We would also like to highlight introduction of the WeChat Pay international payment system by the Bank, which enables our customers access to 64 countries and range of new opportunities.
As of June 30, 2022, in accordance with Article 4, Clause 4.2 of the Banking Law and Article 4 of the Procedures on Complying with the Amendment to the Banking Law, we are pleased to announce that Transport and Development Bank has been restructured as Closed Joint Stock Company.
Click here to view the financial report for the second quarter of 2022.