Author: Otgonkhuu Ch

Year-2018 Quarter- 4

Quarter-4,2018
FINANCIAL STATEMENT

		(in millions of MNT)
Items		12/31/2018
1	ASSET
1.1	Cash and cash equivalents	179,445.56
1.2	Due from banks and financial institutions	–
1.3	Financial investments	29,448.48
1.3.5	Investmens in associates	–
1.4	Loans and advances to customers (net)	289,073.00
1.4.1	Performing loans	289,703.70
1.4.2	Non-performing loans	–
1.4.6	Deferred loan payment	–
1.4.7	Accrued interest receivable	1,275.20
1.4.8	Loan Loss Provision	(1,905.90)
1.5	Derivative financial assets	–
1.6	Other financial assets	0.24
1.7	Other non-financial assets	1,057.13
1.8	Fixed assets (net)	2,181.15
1.9	Real estate for investment	–
1.10	Assets for sale	–
1.11	Intangible assets	636.57
1.12	Total assets	501,842.13
2	LIABILITIES
2.1	Current account	10,433.89
2.2	Savings account	137,691.26
2.3	Due to banks and financial instituitions	215,439.38
2.4	Other deposits	29,688.82
2.5	Other liabilities	31,373.19
2.10	Total liabilities	424,626.55
3	EQUITY
3.1	Share capital	78,000.00
3.2	Share premium	–
3.3	Treasury shares	–
3.4	Revaluation surplus	0.57
3.5	Retained earnings /loss/	(812.94)
3.6	Other reserves	27.95
3.7	Total equity	77,215.58
4	TOTAL LIABILITIES AND EQUITY	501,842.13


INCOME STATEMENT

		(in millions of MNT)
Items		12/31/2018
1	Interest income	24,673.36
1.1	From Bank of Mongolia	299.30
1.2	From Other banks & financial institutions	2,147.45
1.3	From securities	4,626.95
1.4	From loans	17,599.66
1.5	Other interest income	–
2	Interest expense	12,976.56
2.1	Interest expense on current account	1,314.77
2.2	Interest expense on savings account	11,120.31
2.3	Interest expense on borrowed funds	6.12
2.4	Interest expense on securities	535.36
2.5	Other interest expense	–
3	NET INTEREST INCOME (1-2)	11,696.81
4	Provision expenses	1,555.95
4.1	Deposits at other banks and financial institutions	59.22
4.2	Securities	64.99
4.3	Loans	1,431.74
5	Net interest income after provision [(3)-(4)]	10,140.85
6	Other income	1,447.68
6.1	Non-interest income	1,331.13
6.1.1	Trading income	563.08
6.1.2	Exchange and revaluation adjustment expense	–
6.1.3	Fees and commission income	768.06
6.1.4	Other non-interest income	–
6.2	Other income	116.55
7	Other expense	6,355.05
7.1	Non-interest expense	5,982.50
7.1.1	Other provision expense	0.03
7.1.2	Trade expense	–
7.1.3	Exchange and revaluation adjustment expense	231.65
7.1.4	Fees and commission expense	266.37
7.1.5	Other operating expense	5,484.45
7.2	Other expense	372.55
8	Profit Before Tax (5+6-7)	5,233.49
9	Income tax expense	1,408.14
10	Profit After Taxes (8-9)	3,825.35
11	Other comprehensive income	64.99
12	Total comprehensive income for the year (10+11)	3,890.33


OFF BALANCE SHEET

		(in millions of MNT)
Contingencies and commitments (net)		1,428.91


PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios		Limit	Bank
Tier 1 ratio		≥ 9%	24.2%
Capital adequacy ratio		≥ 12%	24.2%
Liquidity		≥ 25%	33.7%
Foreign currency open position ratio (by each currency)		< ±15%	8.6%
Foreign currency open position ratio (total)		< ±40%	8.8%

LOANS AND OTHER EQUIVALENT ASSETS PROVIDED TO RELATED PARTIES OF THE BANK
				(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)
1.1.	Shareholders of the Bank	–	–	–
1.2.	Key management personnel	–	–	–
1.3.	Other related parties	Loan	2,251.02	2.9%
2	Total Loans and other equivalent asset provided to related parties (less than 20% of capital)
2.1.	Shareholders of the Bank	–	–	–
2.2.	Key management personnel	–	–	–
2.3.	Other related parties	Loan	4,893.10	6.3%

Quarterly financial statements

Year-2018 Quarter- 3

Quarter-3,2018
FINANCIAL STATEMENT

		(in millions of MNT)
Items		9/30/2018
1	ASSET
1.1	Cash and cash equivalents	97,761.02
1.2	Due from banks	–
1.3	Financial investments (available for sale)	73,656.61
1.3.5	Investmens in associates	–
1.4	Loans and advances to customers (net)	149,233.84
1.4.1	Performing loans	149,568.40
1.4.2	Non-performing loans	–
1.4.6	Deferred loan payment	–
1.4.7	Accrued interest receivable	570.03
1.4.8	(Loan Loss Provision)	(904.59)
1.5	Derivative financial assets	–
1.6	Other financial assets	0.72
1.7	Other non-financial assets	1,495.25
1.8	Fixed assets (net)	2,273.81
1.9	Real estate for investment	–
1.10	Assets for sale	–
1.11	Intangible assets	528.61
1.12	Total assets	324,949.85
2	LIABILITIES
2.1	Current account	1,578.97
2.2	Savings	35,012.58
2.3	Due to banks & financial instituitions	106,525.25
2.4	Other deposits	73,672.58
2.5	Other liabilities	37,133.63
2.10	Total liabilities	253,923.01
3	EQUITY
3.1	Share capital	72,000.00
3.2	Share premium	–
3.3	Treasury stock	–
3.4	Revaluation surplus	0.57
3.5	Retained earnings	(1,001.68)
3.6	Other reserves	27.95
3.7	Total equity	71,026.84
4	TOTAL LIABILITIES AND EQUITY	324,949.85


INCOME STATEMENT

		(in millions of MNT)
Items		9/30/2018
1	Interest income	14,959.50
1.1	from Bank of Mongolia	271.20
1.2	From Other banks & financial institutions	1,283.94
1.3	from BoM securities	3,011.94
1.4	Loan interest income	10,392.42
1.5	Other interest income	–
2	Interest expense	6,998.57
2.1	Interests paid to Current account	1,110.73
2.2	Interests paid to Savings	5,530.31
2.3	Interest paid to Borrowed fund	5.64
2.4	Securities interest expense	351.89
2.5	Other interest expense	–
3	NET INTEREST INCOME (1-2)	7,960.92
4	Provision expenses	473.31
4.1	Deposits at other banks and financial sectors	22.21
4.2	Securities	5.54
4.3	Loans	445.56
5	Net interest income after provision [(3)-(4)]	7,487.61
6	Other income	904.78
6.1	Non-interest income	815.09
6.1.1	Trade income	–
6.1.2	Exchange and revaluation adjustment expense	305.21
6.1.3	Fees and commission income	509.88
6.1.4	Other non-interest income	–
6.2	Other income	89.69
7	Other expense	4,454.89
7.1	Non-interest expense	4,195.66
7.1.1	Other provision expense	0.03
7.1.2	Trade expense	36.65
7.1.3	Exchange and revaluation adjustment expense	–
7.1.4	Fees and commission expense	215.31
7.1.5	Other operating expense	3,943.68
7.2	Other expense	259.23
8	Net Profit Before Taxes (5+6-7)	3,937.50
9	Income tax expense	241.45
10	Net Profit After Taxes (8-9)	3,696.05
11	Other comprehensive income	5.54
12	Total comprehensive income for the year (10+11)	3,701.59


OFF BALANCE SHEET

		(in millions of MNT)
Contingencies and commitments (net)		2,175.25


PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios		Limit	Bank
Tier 1 ratio		≥ 9%	38.2%
Capital adequacy ratio		≥ 12%	38.2%
Liquidity		≥ 25%	33.2%
Foreign currency open position ratio (by each currency)		< ±15%	7.7%
Foreign currency open position ratio (total)		< ±40%	8.0%

LOANS AND OTHER EQUIVALENT ASSETS PROVIDED TO RELATED PARTIES OF THE BANK
				(in millions of MNT)
Related parties		Category of assets	Balance	Share to capita
1	Loans and other equivalent asset provided to a related party (less than 5% of capital)
1.1.	Shareholders of the Bank	–	–	–
1.2.	Key management personnel	–	–	–
1.3.	Other related parties	Loan	2,257.7	3.2%
2	Total Loans and other equivalent asset provided to related parties (less than 20% of capital)
2.1.	Shareholders of the Bank	–	–	–
2.2.	Key management personnel	–	–	–
2.3.	Other related parties	Loan	4,934.08	6.9%

Quarterly financial statements

Year-2018 Quarter- 2

Quarter-2,2018
FINANCIAL STATEMENT

		(in millions of MNT)
Items		6/30/2018
1	ASSET
1.1	Cash and cash equivalents	140,633.16
1.2	Due from banks	–
1.3	Financial investments (available for sale)	44,977.37
1.3.5	Investmens in associates	–
1.4	Loans and advances to customers (net)	120,164.99
1.4.1	Performing loans	120,386.43
1.4.2	Non-performing loans	–
1.4.6	Deferred loan payment	–
1.4.7	Accrued interest receivable	442.49
1.4.8	(Loan Loss Provision)	(663.93)
1.5	Derivative financial assets	21.97
1.6	Other financial assets	0.30
1.7	Other non-financial assets	634.84
1.8	Fixed assets (net)	2,439.84
1.9	Real estate for investment	–
1.10	Assets for sale	–
1.11	Intangible assets	600.15
1.12	Total assets	309,472.63
2	LIABILITIES
2.1	Current account	808.26
2.2	Savings	37,327.98
2.3	Due to banks & financial instituitions	125,098.55
2.4	Other deposits	45,000.00
2.5	Other liabilities	31,838.72
2.10	Total liabilities	240,073.51
3	EQUITY
3.1	Share capital	72,000.00
3.2	Share premium	–
3.3	Treasury stock	–
3.4	Revaluation surplus	0.57
3.5	Retained earnings	(2,629.40)
3.6	Other reserves	27.95
3.7	Total equity	69,399.12
4	TOTAL LIABILITIES AND EQUITY	309,472.63


INCOME STATEMENT

		(in millions of MNT)
Items		6/30/2018
1	Interest income	9,085.18
1.1	from Bank of Mongolia	209.48
1.2	From Other banks & financial institutions	624.58
1.3	from BoM securities	1,997.30
1.4	Loan interest income	6,253.83
1.5	Other interest income	–
2	Interest expense	4,199.37
2.1	Interests paid to Current account	792.04
2.2	Interests paid to Savings	3,251.02
2.3	Interest paid to Borrowed fund	5.48
2.4	Securities interest expense	150.83
2.5	Other interest expense	–
3	NET INTEREST INCOME (1-2)	4,885.81
4	Provision expenses	301.77
4.1	Deposits at other banks and financial sectors	–
4.2	Securities	–
4.3	Loans	301.77
5	Net interest income after provision [(3)-(4)]	4,584.04
6	Other income	421.11
6.1	Non-interest income	355.06
6.1.1	Trade income	89.43
6.1.2	Exchange and revaluation adjustment expense	–
6.1.3	Fees and commission income	265.64
6.1.4	Other non-interest income	–
6.2	Other income	66.05
7	Other expense	2,882.12
7.1	Non-interest expense	2,709.72
7.1.1	Other provision expense	–
7.1.2	Trade expense	–
7.1.3	Exchange and revaluation adjustment expense	29.00
7.1.4	Fees and commission expense	118.02
7.1.5	Other operating expense	2,562.71
7.2	Other expense	172.40
8	Net Profit Before Taxes (5+6-7)	2,123.03
9	Income tax expense	147.15
10	Net Profit After Taxes (8-9)	1,975.88
11	Other comprehensive income	–
12	Total comprehensive income for the year (10+11)	1,975.88


OFF BALANCE SHEET

		(in millions of MNT)
Contingencies and commitments (net)		8,643.90


PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios		Limit	Bank
Tier 1 ratio		≥ 9%	43.9%
Capital adequacy ratio		≥ 12%	43.9%
Liquidity		≥ 25%	54.7%
Foreign currency open position ratio (by each currency)		< ±15%	-9.1%
Foreign currency open position ratio (total)		< ±40%	-9.1%

LOANS AND OTHER EQUIVALENT ASSETS PROVIDED TO RELATED PARTIES OF THE BANK
				(in millions of MNT)
Related parties		Category of assets	Balance	Share to capita
1	Loans and other equivalent asset provided to a related party (less than 5% of capital)
1.1.	Shareholders of the Bank	–	–	–
1.2.	Key management personnel	–	–	–
1.3.	Other related parties	Loan	2,247.9	3.2%
2	Total Loans and other equivalent asset provided to related parties (less than 20% of capital)
2.1.	Shareholders of the Bank	–	–	–
2.2.	Key management personnel	–	–	–
2.3.	Other related parties	Loan	4,579.40	6.6%

Quarterly financial statements

Year-2018 Quarter- 1

Quarter-1,2018
FINANCIAL STATEMENT

		(in millions of MNT)
Items		3/31/2018
1	ASSET
1.1	Cash and cash equivalents	99,074.33
1.2	Due from banks	–
1.3	Financial investments (available for sale)	29,995.91
1.3.5	Investmens in associates	–
1.4	Loans and advances to customers (net)	109,631.31
1.4.1	Performing loans	109,669.44
1.4.2	Non-performing loans	–
1.4.6	Deferred loan payment	–
1.4.7	Accrued interest receivable	510.22
1.4.8	(Loan Loss Provision)	(548.35)
1.5	Derivative financial assets	174.79
1.6	Other financial assets	0.11
1.7	Other non-financial assets	8,612.51
1.8	Fixed assets (net)	2,364.92
1.9	Real estate for investment	–
1.10	Assets for sale	–
1.11	Intangible assets	592.70
1.12	Total assets	250,446.59
2	LIABILITIES
2.1	Current account	4,345.75
2.2	Savings	4,564.23
2.3	Due to banks & financial instituitions	141,603.13
2.4	Other deposits	30,000.00
2.5	Other liabilities	23,204.13
2.10	Total liabilities	203,717.24
3	EQUITY
3.1	Share capital	50,000.00
3.2	Share premium	–
3.3	Treasury stock	–
3.4	Revaluation surplus	0.57
3.5	Retained earnings	(3,299.17)
3.6	Other reserves	27.95
3.7	Total equity	46,729.34
4	TOTAL LIABILITIES AND EQUITY	250,446.59


INCOME STATEMENT

		(in millions of MNT)
Items		3/31/2018
1	Interest income	4,139.96
1.1	from Bank of Mongolia	80.62
1.2	From Other banks & financial institutions	133.68
1.3	from BoM securities	1,204.21
1.4	Loan interest income	2,721.44
1.5	Other interest income	–
2	Interest expense	1,682.84
2.1	Interests paid to Current account	419.15
2.2	Interests paid to Savings	1,222.68
2.3	Interest paid to Borrowed fund	2.55
2.4	Securities interest expense	38.47
2.5	Other interest expense	–
3	NET INTEREST INCOME (1-2)	2,457.11
4	Provision expenses	192.97
4.1	Deposits at other banks and financial sectors	–
4.2	Securities	–
4.3	Loans	192.97
5	Net interest income after provision [(3)-(4)]	2,264.14
6	Other income	280.03
6.1	Non-interest income	250.59
6.1.1	Trade income	53.96
6.1.2	Exchange and revaluation adjustment expense	101.38
6.1.3	Fees and commission income	95.25
6.1.4	Other non-interest income
6.2	Other income	29.44
7	Other expense	1,238.07
7.1	Non-interest expense	1,175.98
7.1.1	Other provision expense	–
7.1.2	Trade expense
7.1.3	Exchange and revaluation adjustment expense
7.1.4	Fees and commission expense	69.74
7.1.5	Other operating expense	1,106.24
7.2	Other expense	62.09
8	Net Profit Before Taxes (5+6-7)	1,306.11
9	Income tax expense
10	Net Profit After Taxes (8-9)	1,306.11
11	Other comprehensive income	–
12	Total comprehensive income for the year (10+11)	1,306.11


OFF BALANCE SHEET

		(in millions of MNT)
Contingencies and commitments (net)		733.48


PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios		Limit	Bank
Tier 1 ratio		≥ 9%	31.5%
Capital adequacy ratio		≥ 12%	31.5%
Liquidity		≥ 25%	45.6%
Foreign currency open position ratio (by each currency)		< ±15%	-13.0%
Foreign currency open position ratio (total)		< ±40%	-20.9%

LOANS AND OTHER EQUIVALENT ASSETS PROVIDED TO RELATED PARTIES OF THE BANK
				(in millions of MNT)
Related parties		Category of assets	Balance	Share to capita
1	Loans and other equivalent asset provided to a related party (less than 5% of capital)
1.1.	Shareholders of the Bank
1.2.	Key management personnel
1.3.	Other related parties	зээл	2,200.0	4.7%
2	Total Loans and other equivalent asset provided to related parties (less than 20% of capital)
2.1.	Shareholders of the Bank
2.2.	Key management personnel
2.3.	Other related parties	зээл	4,493.88	9.6%

Quarterly financial statements

Year-2017 Quarter- 4

Quarter-4,2017
FINANCIAL STATEMENT

		(in thousands of MNT)
Items		12/31/2017
1	ASSET
1.1	Cash and cash equivalents	92,374,661.95
1.2	Due from banks
1.3	Financial investments (available for sale)	36,950,056.54
1.3.1	Investmens in associates	–
1.4	Loans and advances to customers (net)	70,483,770.64
1.4.1	Performing loans	70,498,854.50
1.4.2	Non-performing loans	–
1.4.6	Deferred loan payment	–
1.4.7	Accrued interest receivable	337,410.42
1.4.8	(Loan Loss Provision)	(352,494.27)
1.5	Derivative financial assets	–
1.6	Other financial assets	–
1.7	Other non-financial assets	963,714.36
1.8	Fixed assets (net)	1,734,329.33
1.9	Real estate for investment	–
1.10	Assets for sale	–
1.11	Intangible assets	540,031.13
1.12	Total assets	203,046,563.95
2	LIABILITIES
2.1	Current account	225,247.43
2.2	Savings	29,095.80
2.3	Due to banks & financial instituitions	109,986,762.71
2.4	Other deposits	37,000,000.00
2.5	Other liabilities	10,382,219.37
2.10	Total liabilities	157,623,325.30
3	EQUITY
3.1	Share capital	50,000,000.00
3.2	Share premium	–
3.3	Treasury stock	–
3.4	Revaluation surplus	571.18
3.5	Retained earnings	(4,605,279.22)
3.6	Other reserves	27,946.69
3.7	Total equity	45,423,238.65
4	TOTAL LIABILITIES AND EQUITY	203,046,563.95


INCOME STATEMENT

		(in thousands of MNT)
Items		12/31/2017
1	Interest income	3,504,839.66
1.1	from Bank of Mongolia	81,660.11
1.2	From Other banks & financial institutions	8,348.17
1.3	from BoM securities	845,570.89
1.4	Loan interest income	2,569,260.49
1.5	Other interest income	–
2	Interest expense	825,381.56
2.1	Interests paid to Current account	93,803.09
2.2	Interests paid to Savings	659,187.64
2.3	Interest paid to Borrowed fund	10,020.77
2.4	Securities interest expense	62,370.06
2.5	Other interest expense	–
3	NET INTEREST INCOME (1-2)	2,679,458.10
4	Provision expenses	(976,277.64)
4.1	Deposits at other banks and financial sectors	–
4.2	Securities	–
4.3	Loans	(976,277.64)
5	Net interest income after provision [(3)-(4)]	3,655,735.74
6	Other income	986,915.38
6.1	Non-interest income	632,039.34
6.1.1	Trade income	–
6.1.2	Exchange and revaluation adjustment expense	5,876.73
6.1.3	Fees and commission income	94,703.23
6.1.4	Other non-interest income	531,459.38
6.2	Other income	354,876.04
7	Other expense	2,447,533.45
7.1	Non-interest expense	2,014,954.21
7.1.1	Other provision expense	(17,135.86)
7.1.2	Trade expense	102,883.95
7.1.3	Exchange and revaluation adjustment expense
7.1.4	Fees and commission expense	131,863.97
7.1.5	Other operating expense	1,797,342.15
7.2	Other expense	432,579.23
8	Net Profit Before Taxes (5+6-7)	2,195,117.67
9	Income tax expense	245,143.90
10	Net Profit After Taxes (8-9)	1,949,973.77
11	Other comprehensive income	–
12	Total comprehensive income for the year (10+11)	1,949,973.77



PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios		Limit	Bank
Tier 1 ratio		≥ 9%	52.1%
Capital adequacy ratio		≥ 12%	52.1%
Liquidity		≥ 25%	58.6%
Foreign currency open position ratio (by each currency)		< ±15%	-14.7%
Foreign currency open position ratio (total)		< ±40%	-14.8%

Quarterly financial statements

Year-2017 Quarter- 3

Quarter-3,2017
FINANCIAL STATEMENT

		(in thousands of MNT)
Items		9/30/2017
1	ASSET
1.1	Cash and cash equivalents	37,223,285.98
1.2	Due from banks	–
1.3	Financial investments (available for sale)	9,140.00
1.3.1	Investmens in associates	–
1.4	Loans and advances to customers (net)	24,204,597.47
1.4.1	Performing loans	24,216,432.52
1.4.2	Non-performing loans	–
1.4.6	Deferred loan payment	–
1.4.7	Accrued interest receivable	109,247.11
1.4.8	(Loan Loss Provision)	(121,082.16)
1.5	Derivative financial assets	–
1.6	Other financial assets	631.17
1.7	Other non-financial assets	672,768.56
1.8	Fixed assets (net)	357,131.57
1.9	Real estate for investment	–
1.10	Assets for sale	–
1.11	Intangible assets	517,525.62
1.12	Total assets	62,985,080.37
2	LIABILITIES
2.1	Current account	91,814.72
2.2	Savings	29,494.39
2.3	Due to banks & financial instituitions	17,337,546.37
2.4	Other deposits	–
2.5	Other liabilities	158,427.47
2.10	Total liabilities	17,617,282.96
3	EQUITY
3.1	Share capital	50,000,000.00
3.2	Share premium	–
3.3	Treasury stock	–
3.4	Revaluation surplus	16,353.39
3.5	Retained earnings	(4,676,502.66)
3.6	Other reserves	27,946.69
3.7	Total equity	45,367,797.41
4	TOTAL LIABILITIES AND EQUITY	62,985,080.37


INCOME STATEMENT

		(in thousands of MNT)
Items		9/30/2017
1	Interest income	1,085,342.25
1.1	from Bank of Mongolia	–
1.2	From Other banks & financial institutions	34.87
1.3	from BoM securities	98,538.93
1.4	Loan interest income	986,768.45
1.5	Other interest income	–
2	Interest expense	60,589.72
2.1	Interests paid to Current account	–
2.2	Interests paid to Savings	60,589.72
2.3	Interest paid to Borrowed fund	–
2.4	Securities interest expense	–
2.5	Other interest expense	–
3	NET INTEREST INCOME (1-2)	1,024,752.54
4	Provision expenses	94,708.05
4.1	Deposits at other banks and financial sectors	–
4.2	Securities	–
4.3	Loans	94,708.05
5	Net interest income after provision [(3)-(4)]	930,044.48
6	Other income	2,904,819.88
6.1	Non-interest income	2,873,363.70
6.1.1	Trade income	177,280.39
6.1.2	Exchange and revaluation adjustment expense	492,055.67
6.1.3	Fees and commission income	57,182.81
6.1.4	Other non-interest income	2,146,844.83
6.2	Other income	31,456.17
7	Other expense	1,934,915.36
7.1	Non-interest expense	1,679,168.24
7.1.1	Other provision expense	–
7.1.2	Trade expense	273,445.37
7.1.3	Exchange and revaluation adjustment expense	443,691.94
7.1.4	Fees and commission expense	72,104.35
7.1.5	Other operating expense	889,926.58
7.2	Other expense	255,747.12
8	Net Profit Before Taxes (5+6-7)	1,899,948.99
9	Income tax expense	21,198.67
10	Net Profit After Taxes (8-9)	1,878,750.33
11	Other comprehensive income	–
12	Total comprehensive income for the year (10+11)	1,878,750.33



PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios		Limit	Bank
Tier 1 ratio		≥ 9%	110.1%
Capital adequacy ratio		≥ 12%	110.1%
Liquidity		≥ 25%	211.4%
Foreign currency open position ratio (by each currency)		< ±15%	14.4%
Foreign currency open position ratio (total)		< ±40%	37.3%

Quarterly financial statements

Year-2017 Quarter- 2

Quarter-2,2017
FINANCIAL STATEMENT

		(in thousands of MNT)
Items		6/30/2017
1	ASSET
1.1	Cash and cash equivalents	4,461,432.55
1.2	Due from banks	–
1.3	Financial investments (available for sale)	9,140.00
1.3.1	Investmens in associates	–
1.4	Loans and advances to customers (net)	5,257,693.83
1.4.1	Performing loans	5,277,139.73
1.4.2	Non-performing loans	633,521.07
1.4.6	Deferred loan payment	–
1.4.7	Accrued interest receivable	6,939.80
1.4.8	(Loan Loss Provision)	(659,906.76)
1.5	Derivative financial assets	–
1.6	Other financial assets	580,129.04
1.7	Other non-financial assets	251,482.26
1.8	Fixed assets (net)	287,938.01
1.9	Real estate for investment	–
1.10	Assets for sale	–
1.11	Intangible assets	306,002.14
1.12	Total assets	11,153,817.84
2	LIABILITIES
2.1	Current account	71,231.98
2.2	Savings	28,817.65
2.3	Due to banks & financial instituitions	557.55
2.4	Other deposits	–
2.5	Other liabilities	247,976.02
2.10	Total liabilities	348,583.19
3	EQUITY
3.1	Share capital	16,000,000.00
3.2	Share premium	–
3.3	Treasury stock	–
3.4	Revaluation surplus	16,353.39
3.5	Retained earnings	(5,239,065.43)
3.6	Other reserves	27,946.69
3.7	Total equity	10,805,234.65
4	TOTAL LIABILITIES AND EQUITY	11,153,817.84


INCOME STATEMENT

		(in thousands of MNT)
Items		6/30/2017
1	Interest income	550,896.43
1.1	from Bank of Mongolia	–
1.2	From Other banks & financial institutions	–
1.3	from BoM securities	–
1.4	Loan interest income	550,896.43
1.5	Other interest income	–
2	Interest expense	1,188.37
2.1	Interests paid to Current account	–
2.2	Interests paid to Savings	1,188.37
2.3	Interest paid to Borrowed fund	–
2.4	Securities interest expense	–
2.5	Other interest expense	–
3	NET INTEREST INCOME (1-2)	549,708.06
4	Provision expenses	–
4.1	Deposits at other banks and financial sectors	–
4.2	Securities	–
4.3	Loans	–
5	Net interest income after provision [(3)-(4)]	549,708.06
6	Other income	1,650,627.93
6.1	Non-interest income	1,476,655.13
6.1.1	Trade income	–
6.1.2	Exchange and revaluation adjustment expense	80,239.62
6.1.3	Fees and commission income	14,133.37
6.1.4	Other non-interest income	1,382,282.13
6.2	Other income	173,972.80
7	Other expense	872,335.45
7.1	Non-interest expense	624,624.08
7.1.1	Other provision expense	5,569.74
7.1.2	Trade expense	–
7.1.3	Exchange and revaluation adjustment expense	78,981.75
7.1.4	Fees and commission expense	29,982.60
7.1.5	Other operating expense	510,089.97
7.2	Other expense	247,711.37
8	Net Profit Before Taxes (5+6-7)	1,328,000.54
9	Income tax expense	11,812.98
10	Net Profit After Taxes (8-9)	1,316,187.56
11	Other comprehensive income	–
12	Total comprehensive income for the year (10+11)	1,316,187.56



PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios		Limit	Bank
Tier 1 ratio		≥ 9%	188.7%
Capital adequacy ratio		≥ 12%	189.0%
Liquidity		≥ 25%	1279.9%
Foreign currency open position ratio (by each currency)		< ±15%	-0.2%
Foreign currency open position ratio (total)		< ±40%	-0.3%

Quarterly financial statements

Year-2017 Quarter- 1

Quarter-1,2017
FINANCIAL STATEMENT

		(in thousands of MNT)
Items		3/31/2017
1	ASSET
1.1	Cash and cash equivalents	2,893,336.46
1.2	Due from banks	–
1.3	Financial investments (available for sale)	9,140.00
1.3.1	Investmens in associates	–
1.4	Loans and advances to customers (net)	5,513,505.86
1.4.1	Performing loans	1,860,000.00
1.4.2	Non-performing loans	5,619,208.19
1.4.6	Deferred loan payment	–
1.4.7	Accrued interest receivable	12,697.94
1.4.8	(Loan Loss Provision)	(1,978,400.27)
1.5	Derivative financial assets	–
1.6	Other financial assets	–
1.7	Other non-financial assets	533,200.46
1.8	Fixed assets (net)	750,332.98
1.9	Real estate for investment	–
1.10	Assets for sale	–
1.11	Intangible assets	325,907.85
1.12	Total assets	10,025,423.61
2	LIABILITIES
2.1	Current account	103,166.43
2.2	Savings	40,879.59
2.3	Due to banks & financial instituitions	740.52
2.4	Other deposits	–
2.5	Other liabilities	311,496.98
2.10	Total liabilities	456,283.52
3	EQUITY
3.1	Share capital	16,000,000.00
3.2	Share premium	–
3.3	Treasury stock	–
3.4	Revaluation surplus	16,353.39
3.5	Retained earnings	(6,475,159.98)
3.6	Other reserves	27,946.69
3.7	Total equity	9,569,140.10
4	TOTAL LIABILITIES AND EQUITY	10,025,423.61


INCOME STATEMENT

		(in thousands of MNT)
Items		3/31/2017
1	Interest income	223,143.83
1.1	from Bank of Mongolia	–
1.2	From Other banks & financial institutions	–
1.3	from BoM securities	–
1.4	Loan interest income	223,143.83
1.5	Other interest income	–
2	Interest expense	691.13
2.1	Interests paid to Current account	–
2.2	Interests paid to Savings	691.13
2.3	Interest paid to Borrowed fund	–
2.4	Securities interest expense	–
2.5	Other interest expense	–
3	NET INTEREST INCOME (1-2)	222,452.70
4	Provision expenses	4,621.97
4.1	Deposits at other banks and financial sectors	–
4.2	Securities	–
4.3	Loans	4,621.97
5	Net interest income after provision [(3)-(4)]	217,830.74
6	Other income	148,657.55
6.1	Non-interest income	148,657.55
6.1.1	Trade income	–
6.1.2	Exchange and revaluation adjustment expense	77,837.59
6.1.3	Fees and commission income	92.25
6.1.4	Other non-interest income	70,727.71
6.2	Other income	–
7	Other expense	286,395.27
7.1	Non-interest expense	283,069.34
7.1.1	Other provision expense	–
7.1.2	Trade expense	–
7.1.3	Exchange and revaluation adjustment expense	77,642.42
7.1.4	Fees and commission expense	430.40
7.1.5	Other operating expense	204,996.51
7.2	Other expense	3,325.94
8	Net Profit Before Taxes (5+6-7)	80,093.01
9	Income tax expense	–
10	Net Profit After Taxes (8-9)	80,093.01
11	Other comprehensive income	–
12	Total comprehensive income for the year (10+11)	80,093.01



PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios		Limit	Bank
Tier 1 ratio		≥ 9%	152.0%
Capital adequacy ratio		≥ 12%	152.3%
Liquidity		≥ 25%	634.1%
Foreign currency open position ratio (by each currency)		< ±15%	-0.3%
Foreign currency open position ratio (total)		< ±40%	-0.3%

Quarterly financial statements

Year-2016 Quarter- 4

Quarter-4,2016
FINANCIAL STATEMENT

	(in thousand of MNT)
FINANCIAL STATEMENT	12/31/2016
ASSET
Cash and cash equivalents	178,186.35
Due from banks	53,779.47
Financial investments	–
Loans and advances to customers (net)	7,324,724.80
Foreclosed assets /net/	1,181,325.00
Other financial assets	400,702.56
Fixed assets (net)	740,948.95
Intangible assets	7,763.51
Total assets	9,887,430.63
LIABILITIES
Current account	161,484.32
Savings	40,280.05
Other liabilities	205,759.17
Total liabilities	407,523.55
EQUITY
Ordinary shares	16,000,000.00
Revaluation surplus	16,353.39
Other components of equity	27,946.69
Retained earnings /loss/	(6,564,392.99)
Total equity	9,479,907.09
TOTAL LIABILITIES AND EQUITY	9,887,430.63

INCOME STATEMENT

	(in thousand of MNT)
INCOME STATEMENT	12/31/2016
Interest income	345,812.46
Interest expense	1,859.26
NET INTEREST INCOME (1-2)	343,953.20
Net trading gain/loss	(174.37)
Foreign currency revaulation gain/loss	(10,699.61)
Other operating income	84.50
Non-interest income	(10,789.48)
Net operating income	333,163.72
Other operating expense	587,792.72
Profit/loss before provision	(254,629.00)
Provision expense	154,761.39
Net operating gain/loss	(409,390.39)
Non-operating income	307,310.94
Non-operating expense	324,633.10
Profit Before Tax	(426,712.55)
Income tax expense
Net profit	(426,712.55)




PREDENTIAL RATIOS BY THE BANK OF MONGOLIA	Limit	12/31/2016
Capital adequacy ratio	≥ 12%	113.87%
Tier 1 ratio	≥ 9%	113.67%
Liquidity	≥ 25%	56.92%
Foreign currency open position ratio (by each currency)	< ±15%	-0.30%
Foreign currency open position ratio (total)	< ±40%	0.20%
Consentration risk of credit ratio <20%	<20%	21.10%
Related party’s debt to equity ratio <5%	<5%	0.00%

Quarterly financial statements

Year-2016 Quarter- 3

Quarter-3,2016
FINANCIAL STATEMENT

	(in thousand of MNT)
FINANCIAL STATEMENT	09/30/2016
ASSET
Cash and cash equivalents	7,939.54
Due from banks	9,775.04
Financial investments	9,140.00
Loans and advances to customers (net)	7,793,044.93
Foreclosed assets /net/	1,181,325.00
Other financial assets	290,850.93
Fixed assets (net)	721,678.68
Intangible assets	1,066.77
Total assets	10,014,820.90
LIABILITIES
Current account	134,921.95
Savings	29,359.59
Other liabilities	165,348.67
Total liabilities	329,630.21
EQUITY
Ordinary shares	16,000,000.00
Revaluation surplus	16,353.39
Other components of equity	27,946.69
Retained earnings /loss/	(6,359,109.38)
Total equity	9,685,190.69
TOTAL LIABILITIES AND EQUITY	10,014,820.90

INCOME STATEMENT

	(in thousand of MNT)
INCOME STATEMENT	09/30/2016
Interest income	9,755.16
Interest expense	1,442.63
NET INTEREST INCOME (1-2)	8,312.53
Net trading gain/loss	(40.37)
Foreign currency revaulation gain/loss	(6,444.75)
Other operating income	293,138.46
Non-interest income	286,653.34
Net operating income	294,965.87
Other operating expense	426,900.06
Profit/loss before provision	(131,934.20)
Provision expense	89,494.75
Net operating gain/loss	(221,428.95)
Non-operating income
Non-operating expense
Profit Before Tax	(221,428.95)
Income tax expense
Net profit	(221,428.95)




PREDENTIAL RATIOS BY THE BANK OF MONGOLIA	Limit	09/30/2016
Capital adequacy ratio	≥ 12%	43.29%
Tier 1 ratio	≥ 9%	43.10%
Liquidity	≥ 25%	5.37%
Foreign currency open position ratio (by each currency)	< ±15%	1.60%
Foreign currency open position ratio (total)	< ±40%	1.40%
Consentration risk of credit ratio <20%	<20%	20.65%
Related party’s debt to equity ratio <5%	<5%	1.14%

Quarterly financial statements

Year-2016 Quarter- 2

Quarter-2,2016
FINANCIAL STATEMENT

	(in thousand of MNT)
FINANCIAL STATEMENT	06/30/2016
ASSET
Cash and cash equivalents	6,859.35
Due from banks	16,895.05
Financial investments	9,140.00
Loans and advances to customers (net)	7,804,425.47
Foreclosed assets /net/	1,181,325.00
Other financial assets	290,922.49
Fixed assets (net)	737,276.29
Intangible assets	1,132.08
Total assets	10,047,975.73
LIABILITIES
Current account	109,558.12
Savings	28,307.34
Other liabilities	98,787.01
Total liabilities	236,652.48
EQUITY
Ordinary shares	16,000,000.00
Revaluation surplus	16,353.39
Other components of equity	27,946.69
Retained earnings /loss/	(6,232,976.82)
Total equity	9,811,323.26
TOTAL LIABILITIES AND EQUITY	10,047,975.73

INCOME STATEMENT

	(in thousand of MNT)
INCOME STATEMENT	06/30/2016
Interest income	7,844.54
Interest expense	952.90
NET INTEREST INCOME (1-2)	6,891.64
Net trading gain/loss	(0.02)
Foreign currency revaulation gain/loss	538.44
Other operating income	283,040.96
Non-interest income	283,579.38
Net operating income	290,471.02
Other operating expense	245,992.93
Profit/loss before provision	44,478.10
Provision expense	139,357.60
Net operating gain/loss	(94,879.50)
Non-operating income
Non-operating expense	416.88
Profit Before Tax	(95,296.38)
Income tax expense
Net profit	(95,296.38)




PREDENTIAL RATIOS BY THE BANK OF MONGOLIA	Limit	06/30/2016
Capital adequacy ratio	≥ 12%	44.7%
Tier 1 ratio	≥ 9%	44.5%
Liquidity	≥ 25%	10.0%
Foreign currency open position ratio (by each currency)	< ±15%	-1.1%
Foreign currency open position ratio (total)	< ±40%	-0.9%
Consentration risk of credit ratio <20%	<20%	20.4%
Related party’s debt to equity ratio <5%	<5%	1.2%

Quarterly financial statements

Year-2016 Quarter- 1

Quarter-1,2016
FINANCIAL STATEMENT

	(in thousand of MNT)
FINANCIAL STATEMENT	03/31/2016
ASSET
Cash and cash equivalents	11,314.60
Due from banks	13,559.94
Financial investments	9,140.00
Loans and advances to customers (net)	7,118,781.73
Foreclosed assets /net/	1,181,325.00
Other financial assets	291,311.51
Fixed assets (net)	752,873.90
Intangible assets	1,197.40
Total assets	9,379,504.07
LIABILITIES
Current account	88,052.03
Savings	27,423.81
Other liabilities	95,703.04
Total liabilities	211,178.88
EQUITY
Ordinary shares	16,000,000.00
Revaluation surplus	16,353.39
Other components of equity	27,946.69
Retained earnings /loss/	(6,875,974.88)
Total equity	9,168,325.19
TOTAL LIABILITIES AND EQUITY	9,379,504.07

INCOME STATEMENT

	(in thousand of MNT)
INCOME STATEMENT	03/31/2016
Interest income	4,868.11
Interest expense	474.18
NET INTEREST INCOME (1-2)	4,393.93
Net trading gain/loss	–
Foreign currency revaulation gain/loss	(1,358.02)
Other operating income	8,867.67
Non-interest income	7,509.65
Net operating income	11,903.58
Other operating expense	112,944.00
Profit/loss before provision	(101,040.42)
Provision expense	637,134.27
Net operating gain/loss	(738,174.69)
Non-operating income
Non-operating expense	119.76
Profit Before Tax	(738,294.45)
Income tax expense
Net profit	(738,294.45)




PREDENTIAL RATIOS BY THE BANK OF MONGOLIA	Limit	03/31/2016
Capital adequacy ratio	≥ 12%	33.86%
Tier 1 ratio	≥ 9%	33.69%
Liquidity	≥ 25%	11.66%
Foreign currency open position ratio (by each currency)	< ±15%	-1.30%
Foreign currency open position ratio (total)	< ±40%	-1.10%
Consentration risk of credit ratio <20%	<20%	21.81%
Related party’s debt to equity ratio <5%	<5%	1.27%

Financial indicators

FINANCIAL INDICATORS

in thousands of MNT

(audited)

BALANCE SHEET	2018	2019	2020	2021	2022	2023
ASSETS
Cash and balances with Bank of Mongolia	118,463,789	187,738,265	47,652,174	122,747,594	230,809,578	208,488,370
Due from banks	60,981,772	22,355,805	60,889,978	37,585,022	321,818,852	198,880,626
Financial assets at FVTPL	58,661	352,543	266,720	2,832,448	4,748,884	4,772,703
Financial assets at FVTOCI	29,389,823	25,816,251	22,930,314	69,765,709	640,791	37,008,923
Financial assets at amortised cost	–	–	–	10,348,243	6,889,076	20,896,193
Derivative financial assets	–	–	–	35,712	3,813,582	2,442,507
Loans and advances to customers	289,072,998	254,427,548	216,738,625	433,651,455	556,700,648	671,768,051
Current tax assets	–	675,263	–	–	–	–
Properties held for sale	–	–	–	–	–	26,183,950
Property and equipment	2,181,152	6,226,802	8,930,940	11,045,889	19,856,337	16,484,725
Intangible assets	636,569	747,771	458,040	5,432,936	5,894,523	5,483,334
Deferred tax assets	–	1,035	–	355,657	–	486,597
Other assets	1,057,365	26,079,221	2,291,118	34,728,868	6,236,675	16,007,031
Goodwill	–	–	–	4,591,561	4,591,561	4,591,561
TOTAL ASSETS	501,842,129	524,420,504	360,157,909	733,121,094	1,162,000,507	1,213,494,571
LIABILITIES
Deposits from financial institutions	212,729,196	163,726,270	112,195,768	90,063,973	374,088,532	311,527,590
Deposits from customers	147,867,031	248,999,833	87,948,924	318,303,255	525,090,994	578,007,031
Repurchase agreements	29,603,979	3,998,795	22,949,907	76,731,558	6,019,946	37,712,288
Borrowed funds	–	–	20,620,840	47,066,560	40,696,557	63,452,028
Derivative financial liabilities	–	–	–	20,009	5,839,782	3,408,636
Current tax liabilities	367,746	–	189,441	894,892	184,314	1,816,541
Deferred tax liabilities	–	–	10,356	–	178,300	–
Other liabilities	34,058,596	26,042,265	7,202,814	17,399,985	23,679,289	20,671,528
TOTAL LIABILITIES	424,626,548	442,767,163	251,118,050	550,480,232	975,777,714	1,016,595,642
EQUITY
Share capital	78,000,000	78,000,000	100,000,000	146,473,811	139,442,306	139,442,306
Share premium	–	–	–	15,645,407	15,646,926	15,646,926
Reserves	93,503	134,258	46,646	124,009	1,103,813	99,068
Retained earnings	(877,922)	3,519,083	8,993,213	20,397,635	30,029,748	41,710,629
TOTAL EQUITY	77,215,581	81,653,341	109,039,859	182,640,862	186,222,793	196,898,929
TOTAL LIABILITIES AND EQUITY	501,842,129	524,420,504	360,157,909	733,121,094	1,162,000,5	1,213,494,571

in thousands of MNT

INCOME STATEMENT	2018	2019	2020	2021	2022	2023
Interest and similar income	27,695,862	57,524,891	44,854,170	50,814,740	85,122,132	117,843,486
Interest and similar expense	(15,999,056)	(39,897,851)	(25,089,645)	(24,881,973)	(45,956,759)	(74,555,848)
Net interest income	11,696,806	17,627,040	19,764,525	25,932,767	39,165,373	43,287,638
Fee and commission income	768,056	665,810	330,979	376,799	1,205,971	1,091,988
Fee and commission expense	(266,369)	(393,383)	(436,979)	(462,092)	(1,150,338)	(1,498,906)
Net fee and commission income (expense)	501,687	272,427	(106,000)	(85,293)	55,633	(406,918)
Net trading income (expense)	563,078	871,662	2,493,878	1,457,159	4,038,048	3,255,669
Other income (expense) from other financial instruments at FVTPL	–	(140,356)	50,270	(177,896)	(1,947,392)	1,103,175
Revenue	12,761,571	18,630,773	22,202,673	27,126,737	41,311,662	47,239,564
Other income	117,667	789,517	683,476	54,652	3,536,042	794,656
Impairment losses on financial instruments	(1,555,979)	(6,413,735)	(8,133,610)	(589,482)	(9,299,839)	(8,974,922)
Personnel expenses	(2,747,623)	(3,713,667)	(3,734,624)	(5,443,150)	(10,414,223)	(13,538,723)
Depreciation and amortization	(676,234)	(1,771,354)	(2,644,442)	(4,010,633)	(5,922,646)	(6,488,224)
Other expenses	(2,427,749)	(1,751,692)	(2,083,588)	(3,071,270)	(5,172,801)	(6,788,592)
Non-operating expenses	(238,166)	(242,850)	(150,337)	(221,457)	(406,329)	(134,867)
Profit before tax	5,233,487	5,526,992	6,139,548	13,845,397	13,631,866	12,108,892
Income tax expense	(1,408,139)	(1,129,987)	(665,418)	(2,440,975)	(2,944,032)	(1,484,303)
Net profit for the year	3,825,348	4,397,005	5,474,130	11,404,422	10,687,834	10,624,589
OTHER COMPREHENSIVE INCOME
Net change in fair value	64,985	105,740	18,128	95,491	19,574	71,121
Reclassified to profit or loss	–	(64,985)	(105,740)	(18,128)	(95,491)	(19,574)
Total comprehensive income for the year	3,890,333	4,437,760	5,386,518	11,481,785	10,611,917	10,676,136

OTHER INDICATORS	2018	2019	2020	2021	2022	2023
Capital Adequacy ratio	24.77%	27.15%	39.67%	33.51%	27.99%	22.65%
Tier 1 ratio	24.76%	27.15%	39.66%	33.51%	27.99%	22.65%
Liqudity ratio	33.71%	53.13%	28.53%	32.88%	37.02%	33.82%