Author: Nasantsatsral B

TransBank is pleased to announce its financial results for the first quarter of 2024.

As of the end of the reporting period, the Bank’s total assets remained stable at MNT 1.1 trillion, while net profit after tax reached MNT 5.7 billion, representing a 60% increase compared to the same period of the previous year.

Throughout the reporting period, TransBank fully complied with the prudential ratio requirements set by the Bank of Mongolia. In particular, the liquidity ratio stood at 30.1%, and the capital adequacy ratio was 23.0%. The Bank’s deposit and current account portfolio reached MNT 737 billion, while its loan portfolio expanded to MNT 706 billion, reflecting strengthened cooperation with clients and partners.

To view the full Q1 2024 financial report, please CLICK HERE.

TransBank provides a wide range of swift, optimal products and services to fulfill the needs of its customers in addition to cooperating with businesses and business owners operating in the economically significant sectors of Mongolia.

Alongside the blooming of the cherry blossoms, symbolizing the time of a new beginning, TransBank has successfully held the inauguration ceremony of its first international representative office in Tokyo, Japan on April 7^th, 2023.

The long-lived friendly relationship, partnership, development and The Economic Cooperation Treaty between Japan and Mongolia has created a pleasant business environment to conduct our business enabling us to build a long-term close partnership with our customers and to establish the foundation of trust and near-future achievements.

Through our representative office, we will become a financial bridge to create opportunities of cooperation by connecting Japanese business owners and financial institutions to Mongolian businesses through providing accurate economic and market information of Mongolia.

Within the framework of sound cooperation and speed of growth based on the recognized needs of our customers, we are striving towards becoming a world-class bank.