Author: Danzanpuntsag

News

TRANSBANK’S UNAUDITED FINANCIAL STATEMENT FOR 2022 Q3

Post author By Danzanpuntsag
Post date October 31, 2022

As of the end of the third quarter of 2022, the total assets of the bank reached 915.6 billion MNT, which is 39.3 percent from the same period in 2021, and the net profit reached 10.7 billion MNT, an increase of 13.5 percent compared to the same period of the previous year.

During the reporting period, the bank has fully met the indicators of appropriate ratio of operations.

The bank continues to expand its business scope by establishing a tripartite cooperation memorandum with the “Asian Business Association NGO” and “Educated Enterprise LLC” and a memorandum of cooperation with the “Asia Foundation in Mongolia” to support women’s entrepreneurship.

“Multi-currency nostro account” is opened in “Erste” bank of Austria, increasing the possibility of foreign payments for our customers.

Click here to view the financial statements for the third quarter of 2022.

Quarterly financial statements

As of September 30, 2022

Post author By Danzanpuntsag
Post date October 28, 2022

(in millions of MNT)

BALANCE SHEET ITEMS		30/09/2022
1	ASSET
1.1	Cash and cash equivalents	212,181
1.2	Due from banks and financial institutions	60,848
1.3	Financial investments	21,778
1.4	Loans and advances to customers (net)	510,101
1.4.1	Performing loans	434,219
1.4.2	Non-performing loans	92,120
1.4.3	Deferred loan payment	(118)
1.4.4	Accrued interest receivable	9,423
1.4.5	Loan Loss Provision	(25,544)
1.5	Derivative financial assets	2,515
1.6	Other financial assets	120
1.7	Other non-financial assets	86,279
1.8	Fixed assets (net)	12,249
1.9	Intangible assets	9,577
1.10	Total assets	915,647
2	LIABILITIES
2.1	Current account	102,051
2.2	Savings account	369,787
2.3	Due to banks and financial institutions	221,271
2.4	Other funds	26,075
2.5	Derivative financial liabilities	3,404
2.6	Other liabilities	6,694
2.7	Total liabilities	729,282
3	EQUITY
3.1	Share capital	146,474
3.2	Share premium	15,645
3.3	Treasury shares	(7,032)
3.4	Revaluation surplus	1
3.5	Retained earnings /loss/	24,092
3.6	Other reserves	7,184
4	Total equity	186,365
5	TOTAL LIABILITIES AND EQUITY	915,647

(in millions of MNT)

INCOME STATEMENT		30/09/2022
1	Interest income	59,723
1.1	From Bank of Mongolia	89
1.2	From Other banks & financial institutions	1,525
1.3	From securities	3,612
1.4	From loans	51,530
1.5	Other interest income	2,968
2	Interest expense	30,329
2.1	Interest expense on current account	–
2.2	Interest expense on savings account	25,124
2.3	Interest expense on borrowed funds	1,818
2.4	Interest expense on securities	1,468
2.5	Other interest expense	1,918
3	NET INTEREST INCOME (1-2)	29,394
4	Provision expenses (provision reverse income)	4,807
4.1	Deposits at other banks and financial institutions	–
4.2	Securities	–
4.3	Loans	4,807
5	Net interest income after provision [(3)-(4)]	24,587
6	Other income	20,001
6.1	Non-interest income	19,761
6.1.1	Trading income	11,579
6.1.2	Exchange and revaluation adjustment expense	7,201
6.1.3	Fees and commission income	977
6.1.4	Other non-interest income	5
6.2	Other income	240
7	Other expense	31,735
7.1	Non-interest expense	31,401
7.1.1	Other provision expense	0
7.1.2	Trade expense	8,410
7.1.3	Exchange and revaluation adjustment expense	6,339
7.1.4	Fees and commission expense	855
7.1.5	Other operating expense	15,797
7.2	Other expense	334
8	Profit Before Tax (5+6-7)	12,853
9	Income tax expense	2,160
10	Profit After Taxes (8-9)	10,693
11	Other comprehensive income	–
12	Total comprehensive income for the year (10+11)	10,693

(in millions of MNT)

OFF BALANCE SHEET	30/09/2022
Contingencies and commitments (net)	12,841

PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA	Limit	30/09/2022
Tier 1 ratio	≥ 9%	26.2%
Capital adequacy ratio	≥ 12%	26.2%
Liquidity	≥ 25%	30.3%
Foreign currency open position ratio (by each currency)	< ±15%	6.0%
Foreign currency open position ratio (total)	< ±30%	-16.8%

(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)			4.8%
1.1	Shareholders of the Bank	–	–	0.0%
1.2	Key management personnel	–	–	0.0%
1.3	Other related parties	Loan	8,851	4.8%
2	Total Loans and other equivalent asset provided to related parties (less than 20% of capital)			18.9%
2.1	Shareholders of the Bank	Loan	100	0.1%
2.2	Key management personnel	Loan	350	0.2%
2.3	Other related parties	Loan	34,472	18.7%

News

TRANSBANK, ZAMIIN-UUD FREE ZONE’S DIRECTOR’S OFFICE AND KKTT LLC SIGNED TRI-PARTY AGREEMENT

Post author By Danzanpuntsag
Post date October 11, 2022

On October 10th, 2022, TransBank got into a tri-party agreement with Zamiin-Uud Free Zone’s Director’s Office and KKTT KKC to introduce WeChat Pay inside the Free Zone area of Zamiin-Uud.

The benefit of this partnership will provide opportunity for citizens, companies and organizations to implement the payment system of WeChat Pay with ease and speed.

Parties involved in the agreement plan to expand the operation and work to maintain stable partnership.

In May 2022, TransBank and KKTT LLC successfully introduced the payment system of WeChat Pay.

The operation currently involves the conversion of service centers, restaurants, hotels, and other organizations which are popular among Chinese citizens, to become merchants and ultimately implement the payment system for each partner.

With the help of WeChat Pay’s system infrastructure, we enabled the opportunity to receive payments directly from Chinese citizens.

Promotion campaign

LET’S SAVE FOR OUR FUTURE CAMPAIGN BEGINS

Post author By Danzanpuntsag
Post date October 10, 2022

Once every year on October 31, people worldwide celebrate “World Savings Day’ to raise awareness of the benefits of savings and accumulation.

To welcome this special day, Mongol Bank, Mongolian Banking Association, Germany’s Sparkasse Bank (Local Fund), Deposit Insurance Corporation of Mongolia, and several Mongolian banks are going into a partnership for the “Let us Save For Our Future’ campaign.

For this occasion, TransBank will lower the requirements for the Term Deposit product to 0 tugriks and provide gifts to kids who opened the Golden Coin Kid’s Deposit.

TransBank welcomes you to come and visit a branch that’s nearest to you and receive this promotion.

“Let’s Save For Our Future”

Smart savings

Benefit

Post author By Danzanpuntsag
Post date September 26, 2022

Create savings without financial pressure.
Learn the habit of saving.

Smart savings

Terms and conditions

Post author By Danzanpuntsag
Post date September 26, 2022

Service	Smart savings
Choices	Savings	Income savings	Daily savings
Choices	Total amount: – 1,000 MNT – 2,000 MNT – 3,000 MNT – 4,000 MNT – 5,000 MNT	Savings percent: – 1.0% – 6.0% – 2.0% – 7.0% – 3.0% – 8.0% – 4.0% – 9.0% – 5.0% -10.0%	Total amount: – 1,000 MNT – 2,000 MNT – 3,000 MNT – 4,000 MNT – 5,000 MNT
Description	Note for each non-cash (card) purchase and payment transaction, the transaction amount is rounded up to 5,000 and the difference is accumulated in the savings account.	Accumulate a fixed percentage of the transaction amount in a savings account for each income transaction other than a loan	Accumulate current account balances up to 5,000 and accumulate in savings account at 00.00 every day
Account	The customer’s current account can be used, and if the customer does not have a current or savings account, can choose from the products specified open a new account.
Service fee	No fee
Registration	Come to the branch of the bank with your documents and register for additional services.

Smart savings

Required documents

Post author By Danzanpuntsag
Post date September 25, 2022

Customer application form;
Documents required:
- For Mongolian citizens: Citizen’s ID card;
- For Foreign citizens: Passport and Certificate of Alien Registration.