Author: Nasantsatsral B

TransBank’s total assets steadily increased to 985 billion MNT, with after-tax net profit rising by 88% year-on-year to reach 8 billion MNT.

During the reporting period, the bank fully complied with the regulatory capital adequacy requirements set by the Bank of Mongolia, with a quick ratio of 30.2% and a capital adequacy ratio of 23.9%.

Highlights of TransBank’s activities in Q3 2024 include:

• Through its representative offices in Beijing and Tokyo, the bank introduced innovative products and services tailored to meet the financial needs of its clients.
• Successfully implemented the international information security standard ISO/IEC 27001:2022, ensuring business continuity and operational stability.
• Expanded its private banking services in line with international best practices and opened a new branch in Minister Tower, located at the city center, to provide more accessible financial services to clients.

Dear valued clients, you are welcome to visit TransBank’s new branch, where you can conveniently access all banking services in one location with prompt and efficient service.

Click HERE to view the detailed Q3 2024 financial report.

TransBank, a provider of international-standard private banking services, has officially opened a new branch at Minister Tower, further expanding its operations to offer accessible financial services to its growing customers.

The opening ceremony was attended by valued customers, representatives from various business organizations, and TransBank executives.

Located in the prestigious Minister Tower, this new branch is designed to provide banking products and services tailored to the unique needs and lifestyles of its customers. The branch offers a sophisticated and comfortable environment, with highly qualified private bankers dedicated to delivering personalized service.

The Minister Tower branch will operate Monday through Friday, from 9:00 AM to 5:00 PM, offering efficient, one-stop access to all banking services.

For more information about TransBank’s branches, products, and services, please visit our official website at www.transbank.mn or contact our customer service at 1800-9999.

We warmly welcome you to our new branch at TransBank.

As mobile payments and digital banking usage continue to rise, ensuring the security of your smartphone and online banking access has become increasingly important. TransBank advises its clients to follow the cybersecurity recommendations below to proactively safeguard against potential risks.

When registering for digital banking:

1. Upon registering for digital banking, your registered email address will receive sensitive information such as transaction confirmations, one-time passwords (OTPs), and security questions. It is essential not to share your email password with anyone.
2. Do not share any verification codes sent to your registered mobile number or email address with others under any circumstances.
3. Always change the default login username that is initially created during registration.
4. When setting a password, avoid using easily guessable information such as your name, date of birth, mobile number, or account number.
5. Never store your password in visible places such as notes on your phone or on paper.

When using digital banking services:

1. Regularly monitor the list of registered and recently accessed devices used to log in to internet banking, and revoke access for any devices you no longer use. It is important not to verify or save login credentials on unfamiliar or untrusted devices.
2. Before installing any application, carefully review the permissions it requests. Only download and use applications from official sources such as the Google Play Store, Apple App Store, or Huawei AppGallery. Mobile applications may access, store, and transmit personal data from your device; therefore, it is important to familiarize yourself with your device’s security and privacy settings as a regular practice.
3. Do not leave your mobile phone or smart devices unattended. Enable automatic screen lock functionality and disable Bluetooth when not in use. Please be aware that when Bluetooth is left enabled, it may allow unauthorized individuals to remotely access or control certain functions of your mobile phone or other smart devices.
4. Before initiating any transaction, carefully verify the recipient’s name, account number, and all other relevant details for accuracy. Regularly review your digital banking statements, and refrain from providing goods or services based solely on another party’s transaction receipt or confirmation.
5. If you purchase and use a previously owned mobile device, perform a factory reset and delete any unnecessary applications to ensure your security.
6. Using a jailbroken or rooted device for digital transactions or entering personal information significantly increases the risk of password compromise, exposure to malware, and ineligibility for official application support. Therefore, it is strongly recommended to avoid jailbreaking or rooting your mobile device.
7. Prior to transferring ownership or selling a previously used smart device, users must securely remove all personal information – including data stored in applications, email accounts, and saved passwords – and perform a complete factory reset or device reformat to guarantee the confidentiality and integrity of their information.

If you suspect that your personal information has been compromised or notice any suspicious transactions on your account, it is strongly recommended that you promptly contact your bank branch or call the customer service hotline to temporarily suspend your banking access. Additionally, immediately change your digital banking password and update your personal information to protect your account.

TransBank Presents Its Financial Report for Q2 2024

TransBank recorded a net profit after tax of MNT 5.5 billion for the second quarter of 2024, reflecting a 92% increase compared to the same period last year.

The Bank fully complied with all prudential ratio requirements set by the Bank of Mongolia during the reporting period. Notably, its liquidity ratio stood at 30.8%, while the capital adequacy ratio reached 24.3%.

Key Highlights of Q2 2024:

1. In collaboration with UNION BANCAIRE PRIVEE (UBP), a leading Swiss private bank, TransBank introduced Wealth Management services, offering clients access to premium asset management solutions.
2. Moody’s, the international credit rating agency, reaffirmed the Bank’s credit rating at the “B3” level.
3. TransBank became the first Mongolian private bank to officially establish and launch operations through a representative office in the People’s Republic of China.
4. The Bank also introduced the “Billionaire Pure Metal” card, Mongolia’s first high-end stainless steel card made from pure metal, setting a new standard in premium banking products.

As Mongolia celebrates the 100th anniversary of the establishment and development of its banking system, TransBank extends its sincere gratitude to our clients and partners for their continued trust and collaboration.

Click HERE to view the full financial report for Q2 2024.