Category: News

The TransBank has successfully received a total of USD 24.7 million in external resources from banks and financial institutions based in Germany, Singapore, and Japan as of the first quarter of 2024. Of this, USD 6.4 million in green financing has been received from external markets as part of its efforts to expand sustainable and green financing.

Additionally, a total of 7.1 million USD was repaid in principal and interest payments from external sources, continuing long-term and reliable cooperation with client banking and financial institutions, further increasing external sources.

TransBank has been supporting green projects that promote environmentally friendly businesses, reduce greenhouse gas emissions, and improve energy efficiency and efficiency, and offers a variety of green loan products for consumers and businesses to its customers.

Within the framework of this financing, we offer our customers flexible and favorable green loans that support environmentally friendly activities and eco-products, creating an opportunity to fight climate change together and contribute to our planet. In connection with this financing, we aim to improve and make our products and services more convenient in order to reach our customers in an efficient and accessible way.

The Bank is under the constant supervision and regulation of the Bank of Mongolia because it accumulates and stores the funds of citizens, legal entities, and the public on the basis of mutual trust, and uses these resources to engage in financial intermediation activities, playing an important role in the country’s economic development and financial stability.

Law enforcement agencies conducted a search of the TransBank as part of a criminal investigation into certain prominent individuals, and it was reported on social media and some media outlets that the bank may have been involved in illegal activities.

Any person who becomes a significant shareholder of a bank or acts as a bank manager is subject to legal regulations that require permission and notification from the Bank of Mongolia, and the individuals named in the information are not shareholders or managers of the TransBank. It is also worth noting that the bank is not responsible for any obligations of the shareholder and is exempt from and separate from the liability of the shareholder.

The operations of the TransBank are conducted in accordance with the Law on Banking and relevant laws. While monitoring the financial condition and prudential criteria, the Bank of Mongolia is ready to take relevant measures in accordance with the law to ensure the stability of not only the bank itself but also the banking sector.

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.

TransBank has launched a “Customer Information Profile Update Campaign” across all its branches to protect its customers from any financial risks they may encounter.

Commercial banks are required to update customer information in accordance with applicable laws and regulations. By updating your information, you, the customer, can receive banking services continuously and quickly, and prevent risks such as third-party attacks and fraud.

The “Customer Information Profile Update Campaign” will continue until October 14, 2023, and you can update your PERSONAL and ORGANIZATIONAL information by visiting your nearest bank branch in person with your documents.

Your contact information should include:

Customers are required to update their information at least every 3-5 years, even if any of the information listed above has changed.

For more information, please contact any branch of the bank nearest you or the Customer Service Center at 7716-9999.

RECOGNIZED AS ONE OF THE “TOP-100” BUSINESS UNITS IN MONGOLIA

The TransBank ranked 88th in the TOP-100 competition, which is jointly organized by the Government of Mongolia and the Mongolian National Institute of Technology and Innovation, recognizing and honoring the best enterprises that make a real contribution to the country’s social and economic development.

The “TOP-100” were selected and honored based on key indicators such as annual revenue, taxes paid to the state budget, the number of employees who paid social insurance, profits, and assets.

TransBank, one of the oldest commercial banks in Mongolia, was founded in 1997 and is now in its 26th year of providing financial services with a professional approach, reliability, and speed.

We are always an innovator in our industry and a reliable financial partner bank that values ​​shared values. We also provide our customers with international-standard private banking services, leading international banking and financial expertise, and modern, advanced technology, while emphasizing customer-centric services that meet their every need, and focusing on transparent and sustainable operations.

The bank’s financial performance has been growing rapidly year after year, and its position in the banking system is expanding. Last year was a special year, with total assets reaching 1.2 trillion tugriks, an increase of 59.9 percent over the previous year.

We would like to thank all of our valued customers and organizations for trusting us and working together to make a real contribution to economic development.

In celebration of International Children’s Day, our dear customers have launched a promotional program for their “Golden Coin” children’s savings accounts, which will lead your beloved children to a bright future, from 2023.05.15 to 06.09

During the promotional program, “Altan Zoos” will give an additional bonus of 10,000 tugriks to every customer who increases their income by more than 50,000 tugriks to their children’s savings account or opens a new deposit.

General Product Terms

Please visit our branches near you and take advantage of the promotions.

The following changes will be made to the terms and conditions of the TransBank’s demand deposits starting from January 1, 2023.

The above conditions will apply if the validity period of the Law “On Prevention and Combating the Coronavirus Disease (COVID-19) Pandemic and Mitigating its Negative Impact on Society and the Economy” expires on December 31, 2022, in accordance with Article 18, Clause 18.1 of the Law.