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% |