Category: Historical Overview and Key Milestones

Became a Direct Participant in the over-the-counter (OTC) market.

Opened USD, HKD, and SGD accounts with Oversea-Chinese Banking Corporation (OCBC), Singapore.

Moody’s reaffirmed the Bank’s Baseline Credit Assessment (BCA) at “B3”, in line with Mongolia’s sovereign rating, for the third consecutive year.

Completed the merger with Credit Bank, in accordance with the Law on Banking and the Company Law of Mongolia, following approval by the Bank of Mongolia on July 27.

Established a correspondent banking relationship with Sumitomo Mitsui Banking Corporation (SMBC), Japan.

Launched UnionPay Platinum and Diamond credit cards, introducing premium international card products to the Mongolian market.

Received a B3 baseline credit assessment from Moody’s, in line with the sovereign rating of Mongolia.

Increased paid-in capital by MNT 22 billion, reaching MNT 100 billion, ranking 2nd in the banking system as of Q3 2020.

Introduced Mongolia’s first physical gold current account and demand deposit services, tailored for gold producers to support financial planning and price risk management.

Acted as a co-underwriter in the IPO of Bodi Insurance LLC under its underwriting license.