Author: Bilguun G

TransBank has once again been recognized as one of Mongolia’s “Top 100” enterprises, an award jointly organized for the 24th consecutive year by the Government of Mongolia and the Mongolian National Chamber of Commerce and Industry (MNCCI).

The “Top 100” enterprises are ranked and honored based on official statistics provided by relevant ministries and government agencies. The evaluation emphasizes five key indicators: annual revenue, taxes paid to the state budget, number of employees covered by social insurance, net profit, and total assets. These 100 enterprises, which contribute the largest share to the country’s tax revenue, are rightfully recognized as the main driving force of Mongolia’s economy.

Since its establishment, TransBank has continuously contributed to the development of Mongolia’s banking and financial sector for 28 years by providing comprehensive financial services tailored to customer needs through modern advanced technologies. As a “private bank meeting international standards,” it delivers fast, reliable services and has steadily progressed with numerous achievements, making a tangible impact on the country’s economic growth.

TransBank closed the year 2024 successfully with assets totaling MNT 1.1 trillion, a net profit of MNT 10.6 billion, and a 19% growth in operating income. The bank contributed a total of MNT 4 billion in tax revenue to the state budget.

Among other achievements this year, TransBank swiftly implemented the latest version of the PCI-DSS 4.0.1 standard, issued by the PCI Security Standards Council, to ensure the security of card payment transactions. Additionally, the bank met the criteria to become a “Direct Participant” member of China’s international cross-border yuan payment system, CIPS, successfully implementing the yuan clearing and payment system not only in Mongolia but also in Northeast Asia. TransBank is the first bank to achieve this milestone.

We sincerely wish success and prosperity to our valued customers and partners who have placed their trust in us. At the same time, we express our deep gratitude to the employees and shareholders who have contributed to the bank’s achievements.

TransBank has met the criteria to become a Direct Participant member bank of China’s Cross-border Interbank Payment System (CIPS), successfully implementing the yuan clearing and payment transmission system not only in Mongolia but also in Northeast Asia for the first time.

This advanced international cross-border payment and fund transfer system, operated by the Bank of China, offers a technological infrastructure designed to execute yuan transactions with the key advantages of being “fast, convenient, and cost-efficient” tailored to meet the needs and preferences of customers.

Currently, there are approximately 170 banks worldwide that hold accounts within the CIPS system, enabling them to send and receive transactions directly as direct participants. Additionally, about 1,500 indirect participants access the system through these direct participants.

By joining the CIPS system as a direct participant, TransBank aims to deliver internationally standardized private banking services to its clients, while gaining the following key advantages.

1. Offering customers—both corporate and individual—a simpler, faster (real-time), more cost-effective, reliable, and secure international payment solution;
2. Supporting trade and investment flows between Mongolia, China, and other countries in Northeast Asia;
3. Diversifying the financing channels for the national economy;
4. Contributing to the stability of the Mongolian Tugrug exchange rate, in line with the policies of the Bank of Mongolia.

This milestone marks TransBank not only as the first bank in Mongolia to join the global CIPS yuan payment network, but also as a reflection of the trust and responsibility placed in the bank by its entire customer base.

The “Deposit and Get a Credit Card” campaign for secured credit cards has been announced and will run until June 30, 2025.

Campaign Terms and Conditions:

Gold Visa / Gold UP card 

1. Customers with deposits ranging from MNT 10 million to 50 million who apply for a credit card will receive a Visa or UnionPay Gold card with no annual fee.

2. Customers with deposits ranging from MNT 50 million to 100 million who apply for a credit card will receive a Visa Gold card free of charge, along with complimentary Priority Pass membership.

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Billionaire Visa Gold /Platinum Visa card 

1. Customers with deposits ranging from MNT 100 million to 500 million who apply for a credit card will receive a 50% discount on the enrollment fee for Billionaire Visa Gold or Platinum Visa cards.

2. Customers with deposits exceeding MNT 500 million who apply for a credit card will be fully exempted from the enrollment fee for Billionaire Visa Gold or Platinum Visa cards.

Campaign Requirement: The deposit term must be 12 months or longer.

Advantages of Applying for a Credit Card under this Campaign:

1. Credit limit of up to 80% of the deposit amount;

2. Complimentary 5-year Priority Pass membership;

3. Interest-free period for the first 50 days on POS and E-Commerce purchases.

Billionaire Visa Gold / Platinum Visa Pure Metal Cards:

1. 50% discount on “Vault” membership fees;

2. Access to “Billionaire X” luxury car usage;

3. 10% cashback from “Vault” and 5% cashback at “Alfie” restaurant.

Customers can visit any nearby TransBank branch to apply and receive services.

For detailed information on cards:

1. Click HERE for Billionaire Visa Gold and Platinum Visa cards.
2. Click HERE for Visa and UnionPay cards.

For more information about the campaign, please contact the Customer Service Center at 1800 – 9999.