Author: Nasantsatsral B

Post author By Nasantsatsral B
Post date January 7, 2025

To support sustainability reporting and measure the impact of its financing activities, the Bank submits the following reports to the relevant regulatory authorities on a quarterly and semi-annual basis: the half-year report of members of the Mongolian Sustainable Finance Association, foreign funding reports, Green loan reports to the Bank of Mongolia, and the Bank’s green funding reports. Within the framework of its GIP membership, the Bank annually reports on the implementation of the Green Investment Principles. In addition, the Bank is preparing to calculate and disclose the greenhouse gas emissions associated with its financed activities for a selected sector under the PCAF framework.

Products and services

Post author By Nasantsatsral B
Post date January 6, 2025

Transbank offers the following green finance products and services that are environmentally and socially responsible to both individual and corporate customers. These include:

Green Project Loan for Small and Medium Enterprises (SMEs). Click here to learn more.
Eco-Friendly Electric Vehicle Loan. Click here to learn more.
Loan Services for Women Entrepreneurs. Click here to learn more.

Sustainable development policy

Post author By Nasantsatsral B
Post date January 6, 2025

By developing and approving our Sustainable Finance Policy, Transbank has strenghtened the integration of sustainable development goals and principles into both our business and internal operations. The policy defines our approach to sustainable finance, including the classification and eligibility criteria for financing activities as well as impact measurement indicators, which are implemented in the day-to-day internal operations.

The Policy is guided by the 17 Sustainable Development Goals defined by the United Nations in 2015 and the eight principles set out in Mongolia’s Sustainable Finance Roadmap, which serve as guiding principle for our business and internal operations.

Sustainable financing

Post author By Nasantsatsral B
Post date January 6, 2025

The Bank’s sustainable finance objective is to direct investment flow toward projects that clearly generate environmental and social benefits.

In this context, the Bank conducts environmental and social risk assessments for the loans we provide, with the aim of mitigating potential risks for both the Bank and its clients. As a key target, the Bank aims to increase the share of sustainable finance loans to 5 percent of its total loan portfolio by 2030.

As of the second quarter or 2024, loans newly issued under the sustainable finance framework accounted for 2.7% of the Bank’s total loan portfolio.

In implementing our environmental and social policy, Transbank complies with the with the Law of Mongolia on Environmental Protection and other relevant laws, regulations, and guidelines. In addition, the Bank aims to incorporate and adhere to the principles of the following international agreements and protocols in its operations and financial transactions, including:

- The eight Performance Standards of the International Finance Corporation (here in after referred to as “IFC”);
- The eight Principles of Sustainable Finance issued by the Mongolian Sustainable Finance Association (here in after referred to as “MSFA”);
- Green Investment Principles for the Belt and Road Initiative (GIP).

The Bank does not finance activities included in the “Exclusion List” and the “Watch List” issued under the Sustainable Finance Program.

Sustainable Development

Post author By Nasantsatsral B
Post date January 3, 2025

Recent global developments including the pandemic and climate change have accelerated the efforts of international organizations and major economies to achieve their sustainable growth goals, leading to the emergence of trends such as green growth and responsible finance. We are developing and implementing a business model that contributes positively to the environment, society, and the economy in line with sustainable development goals. By aligning international standards for sustainable development and green finance and expanding multilateral cooperation, we aim to attract new international funding sources while introducing sustainable solutions that provide environmentally responsible business practices and innovative financial products and services to our customers.

Savings Account

Sakura Savings Account

Post author By Nasantsatsral B
Post date December 26, 2024

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.

Savings Account

Terms and conditions

Post author By Nasantsatsral B
Post date December 26, 2024

Sakura term deposit
Tenor	MNT	USD	JPY
12 month	15.5% p.a	7.0% p.a	6.0% p.a
Penalty interest rate (annual)	2.4%	0.6%	0.6%
	Tenor of the term deposit can be extended only at the date of maturity
Minimum balance requirement	No minimum balance requirement
Interest capitalization	Interest on the deposit is paid to the customer’s current account on quarterly basis
Deposits	It is possible to deposit into the term deposit account
Withdrawals	On the date of maturity, to the customer’s own specified bank account
Issuance of deposit-backed loans and credit cards	N/A
Co-account holder	N/A
Features:· Customer can make deposit and withdraw transactions only between customer’s own bank accounts which is either a saving account or an account in a foreign bank under his/her title (Foreign remittance fees and charges related to the transaction shall be borne by the customer). · Interest on the deposit is paid quarterly to the customer’s current account and relevant taxes will be deducted. · At the end of term deposit contract, if no extension of the contract is requested, the deposit will be transferred to the demand deposit. · If the customer does not deposit the fund within 30 days after the bank account opening, the customer will be contacted to clarify whether the account should be closed.

Savings Account

Required documents for submission

Post author By Nasantsatsral B
Post date December 26, 2024

Passport;
Request form (click here to download);
*Additional documents;

* Additional documents: The Bank may require additional documents and clarifications related to KYC procedures.

If the customer refuses to provide the necessary information, the Bank is obliged to refuse to provide services according to the AML-CFT Law of Mongolia.

The customer must not have intentions of engaging in money laundering or financing terrorism, nor have any affiliation with such illicit activities. Additionally, the customer must comply with the Law of Mongolia on Anti-Money Laundering and Combating the Financing of Terrorism, to avoid any violation of regulations in this regard.

In accordance with the Civil Law of Mongolia, the Law on Personal Privacy, and the Law on Organizational Confidentiality, the Bank will keep customer information strictly confidential except in special cases stipulated by law.

Introduction to TransBank