Financial information – Page 3

	2023	2022	2021	2020	2019
Balance sheet (MNT million)
Total assets	1,213,495	1,162,001	733,121	360,158	524,421
Deposits from customers	676,805	579,764	363,476	96,842	306,001
Loans and advances to customers (Net)	671,768	556,701	433,651	216,739	254,428
Retained earnings	41,711	30,030	20,398	8,993	3,519
Total equity	196,899	186,223	182,641	109,040	81,653
Income statement (MNT million)
Interest income	117,843	85,122	50,815	44,854	57,525
Interest expense	(74,556)	(45,957)	(24,882)	(25,090)	(39,898)
Net interest income	43,288	39,165	25,933	19,765	17,627
Net fees and commission income (expense)	(407)	56	(85)	(106)	272
Net trading income	3,256	4,038	1,457	2,494	872
Other income (expense) from other financial instruments at FVTPL	1,103	(1,947)	(178)	50	(140)
Other income	795	3,536	55	683	790
Impairment losses on financial instruments	(8,975)	(9,300)	(589)	(8,134)	(6,414)
Operating expenses	(26,950)	(21,916)	(12,747)	(8,613)	(7,480)
Profit before tax	12,109	13,632	13,845	6,140	5,527
Income tax expense	(1,484)	(2,944)	(2,441)	(665)	(1,130)
Net profit for the year	10,625	10,688	11,404	5,474	4,397
PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA (%)
Capital adequacy ratio	22.7%	26.8%	33.5%	39.7%	27.2%
Liquidity ratio	33.8%	37.0%	32.9%	28.5%	53.1%
Foreign currency open position ratio (single currency)	-2.9%	-2.6%	-2.4%	-9.4%	4.9%
Foreign currency open position ratio (total)	-8.1%	-3.2%	-4.8%	-9.4%	-14.2%

STATEMENT OF FINANCIAL POSITION

(MNT million)

1	ASSETS
1.1	Cash and cash equivalents	313,498
1.2	Due from banks and financial institutions	75,269
1.3	Financial investments	89,237
1.4	Loans and advances to customers (net)	567,373
1.4.1	Performing loans	508,338
1.4.2	Non-performing loans	76,442
1.4.3	Deferred loan payment	(134)
1.4.4	Accrued interest receivable	14,405
1.4.5	Loan loss provision	(31,678)
1.5	Derivative financial assets	4,412
1.6	Other financial assets	536
1.7	Other non-financial assets	19,452
1.8	Fixed assets	24,351
1.9	Intangible assets	10,401
1.10	Total assets	1,104,529
2	LIABILITIES
2.1	Current accounts	90,942
2.2	Savings accounts	439,542
2.3	Due to banks and financial institutions	339,762
2.4	Other funds	20,703
2.5	Derivative financial liabilities	5,743
2.6	Other liabilities	18,021
2.7	Total liabilities	914,713
3	EQUITY
3.1	Share capital	146,474
3.2	Share premium	15,647
3.3	Treasury shares	(7,032)
3.4	Retained earnings	34,670
3.5	Other reserves	57
3.6	Total equity	189,816
4	TOTAL LIABILITIES AND EQUITY	1,104,529

(MNT million)

OFF BALANCE SHEET
Contingencies and commitments (net)			9,149

INCOME STATEMENT

1	Interest income	28,666
1.1	From Bank of Mongolia	1,450
1.2	From banks and financial institutions	714
1.3	From securities	1,801
1.4	From loans	22,442
1.5	Other interest income	2,259
2	Interest expense	17,630
2.1	Interest expense on current accounts	436
2.2	Interest expense on savings accounts	13,279
2.3	Interest expense on borrowed funds	536
2.4	Interest expense on securities	490
2.5	Other interest expenses	2,889
3	Net interest income (1-2)	11,036
4	Provision expense	2,168
4.1	Deposits at banks and financial institutions	–
4.2	Securities	–
4.3	Loans	2,168
5	Net income after provision (3-4)	8,868
6	Other income	7,141
6.1	Non-interest income	7,081
6.1.1	Trading income	2,262
6.1.2	Foreign exchange and revaluation income	4,365
6.1.3	Fees and commission income	409
6.1.4	Other non-interest income	45
6.2	Other income, gain	60
7	Other expenses	12,273
7.1	Non-interest expenses	12,242
7.1.1	Other provision expense	158
7.1.2	Trading expense	2,407
7.1.3	Foreign exchange and revaluation expense	3,082
7.1.4	Fees and commission expense	472
7.1.5	Other operating expenses	6,123
7.2	Other expenses, losses	31
8	Profit Before Tax (5+6-7)	3,736
9	Income tax expense	200
10	Net profit for the year (8-9)	3,536
11	Other comprehensive income	–
12	Total comprehensive income for the year (10+11)	3,536

PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA	LIMIT	PERFORMANCE
Tier 1 capital ratio	≥ 9%	26.7%
Capital adequacy ratio	≥ 12%	26.7%
Liquidity ratio	≥ 25%	37.6%
Foreign currency open position ratio (single currency)	< ±15%	4.8%
Foreign currency open position ratio (total)	< ±30%	5.2%

LOANS AND ADVANCES TO RELATED PARTIES		CATEGORY OF ASSETS	BALANCE (MNT million)	PERCENT OF TOTAL EQUITY
1	Loans and advances to a related party (less than 5% of total equity)			3.3%
1.1	Bank shareholders	–	–	–
1.2	Key management personnel	–	–	–
1.3	Other related parties	Loan	6,315	3.3%
2	Total loans and advances to related parties (less than 20% of total equity)			14.3%
2.1	Bank shareholders	Loan	100	0.1%
2.2	Key management personnel	Loan	1,344	0.7%
2.3	Other related parties	Loan	25,636	13.5%