We regret that on April 15, 2024, one-sided and unbalanced information involving the name of our bank was disseminated on social media platforms, causing reputational damage to TransBank.
TransBank operates in strict compliance with the laws of Mongolia and the regulations issued by the Bank of Mongolia. We consistently meet the prudential ratio requirements and have our financial indicators, operations, and financial statements audited annually by internationally recognized independent auditing firms such as KPMG and BDO. Moreover, our credit rating and outlook assessments are regularly conducted by the global credit rating agency Moody’s. Our bank is committed to delivering innovative, technology-driven products and services to our clients.
In 2023, our bank contributed MNT 24.3 billion in taxes to the state budget and was recognized as one of Mongolia’s TOP 100 enterprises. We also became a member of the global VISA International network and established an independent card payment processing center. As a result, we have been continuously expanding our operations and delivering fast, reliable, and accessible banking services to our customers, thereby creating business value, fostering economic benefits, and actively participating in corporate social responsibility initiatives.
TransBank remains a reliable and trustworthy financial partner to its customers. As one of the longstanding institutions in Mongolia’s banking and financial sector, we will continue to operate in a stable and sound manner and maintain our commitment to working collaboratively with all stakeholders.
Therefore, we responsibly declare that the dissemination of information that appears to be deliberately organized to tarnish the professional reputation of TransBank through public media channels is unfounded and baseless.
