- Customer application form /download here/;
- Documents required:
- For Mongolian citizens: Citizens ID card;
- For Foreign citizens: Passport and certificate of alien registration.
TransBank has been operating in the banking and financial sector for the last 26 years and announced the appointment of Mr. Enerelt Batbold as the Chief Executive Director of the TransBank effective January 23, 2023.
CEO Enerelt Batbold has professional experience working in the banking and finance sector since 2005 and has fulfilled various management positions with the Ministry of Finance, Wealth management role at Fortis Intertrust Group of Luxembourg, Newcom group, Trafigura LLC, ABTS NBFI, Mongolian Railway state-owned shareholding company. In addition, he worked as a member of the Board of Directors of Credit Bank from October 2018 to August 2021 and was appointed as a member of the Board of Directors of the TransBank in September 2021.
During his tenure at the organizations mentioned above, he has successfully managed to raise investment of USD 58 million from the EBRD and FMO to develop and complete a pioneering US$ 120 million 50MW “Salkhit” wind farm project. Furthermore, while working as deputy head of Trafigura Mongolia he has successfully closed the acquisition of 5.02% of Golomt Bank shares under “Subscription and shareholders agreement along with US$ 35 million “Term Loan Facility agreement” for Trafigura Ptein 2012, as well as issuance of first ever of MNT 750 billion bond for Mongolia’s State-Owned Shareholding Company in 2020.
He holds a bachelor’s degree in both Finance and Management from the University of Colorado, and a Master’s degree in Banking and Finance from the Luxembourg School of Finance-University of Luxembourg from 2008 to 2009.
We are confident that the new CEO’s talent and expertise will benefit the Bank significantly.
Categories
We offer a Visa international card, which is secured using the latest EMV chip technology and provides an opportunity to make payments around the world.
Categories
Benefits
- Manage card accounts through the Online banking service;
- Available for use both in Mongolia and overseas;
- The highest limit for daily purchase transactions.
Categories
Бүтээгдэхүүний нөхцөл
|
Visa Gold debit card |
|
| Currency | MNT, USD, EUR, CNY |
| Admission fee | 50,000 MNT |
| Validity | 3 year |
| Card order fee (urgently) | 5,000 MNT |
| Cash withdrawal at TransBank branch | 200 MNT or currency equivalent to 200 MNT |
| Cash withdrawal from other banks’ АТМ | 500 MNT or currency equivalent to 500 MNT |
| Cash withdrawal from foreign banks’ АТМ | 2% (min 3 USD) |
| Balance inquiry at TransBank branch | 100 MNT or currency equivalent to MNT |
| Balance inquiry at other domestic banks’ ATM | |
| Balance inquiry at other domestic bank branch | |
| To check account balance from foreign banks /AТМ/ | 0.5 USD |
| Change PIN code at TransBank branch | 1,000 MNT or currency equivalent to 1,000 MNT |
| Requesting new PIN code at TransBank branch | |
| Request or change e-PIN code /Branch/ | No fee |
| Reissuance fee | 30,000 MNT |
| Daily cash withdrawal limit | 25,000,000 MNT |
| Daily POS purchase limit | 100,000,000 MNT |
| Minimum required balance | 5,000 MNT / 10 USD / 10 EUR / 50 CNY |
Categories
Required documents
Please visit the nearest branch of TransBank to order.
Individual:
- ID card
For foreigners:
- Passport
- Alien Registration Card
The total assets of TransBank have increased by 26.3% from the previous quarter, reaching a total of MNT 1.16 trillion. During the reporting period, the Bank fully complied with the prudential ratio requirements, operating with an equity of MNT 186.5 billion and a net profit of MNT 10.9 billion.
In November 2022, the international rating agency Moody’s affirmed TransBank’s credit rating as “B3”, maintaining the outlook as “Stable” for the fourth consecutive year.
During the reporting period, we have successfully expanded our online banking and international banking services, with significant growth in our customer base and financial results. Within the framework of an integrated objective of expanding long-term and mutually beneficial partnerships with our customers, TransBank is working to create a distinctive advantage for the Bank further and improve its services in accessibility, scope, efficiency, and competitiveness.
Click here to view the financial statements for the fourth quarter of 2022.
(in millions of MNT)
| BALANCE SHEET ITEMS | 31/12/2022 | |
| 1 | ASSET | |
| 1.1 | Cash and cash equivalents |
484,176 |
| 1.2 | Due from banks and financial institutions |
69,136 |
| 1.3 | Financial investments |
12,290 |
| 1.4 | Loans and advances to customers (net) |
549,812 |
| 1.4.1 | Performing loans |
490,950 |
| 1.4.2 | Non-performing loans |
77,125 |
| 1.4.3 | Deferred loan payment |
(140) |
| 1.4.4 | Accrued interest receivable |
11,337 |
| 1.4.5 | Loan Loss Provision |
(29,460) |
| 1.5 | Derivative financial assets |
3,416 |
| 1.6 | Other financial assets |
694 |
| 1.7 | Other non-financial assets |
3,369 |
| 1.8 | Fixed assets (net) |
22,988 |
| 1.9 | Intangible assets |
10,490 |
| 1.10 | Total assets |
1,156,371 |
| 2 | LIABILITIES | |
| 2.1 | Current account |
120,912 |
| 2.2 | Savings account |
400,133 |
| 2.3 | Due to banks and financial institutions |
404,289 |
| 2.4 | Other funds |
20,560 |
| 2.5 | Derivative financial liabilities |
5,610 |
| 2.6 | Other liabilities |
18,409 |
| 2.7 | Total liabilities |
969,913 |
| 3 | EQUITY | |
| 3.1 | Share capital |
146,474 |
| 3.2 | Share premium |
15,647 |
| 3.3 | Treasury shares |
(7,032) |
| 3.4 | Revaluation surplus |
– |
| 3.5 | Retained earnings /loss/ |
30,255 |
| 3.6 | Other reserves |
1,114 |
| 4 | Total equity |
186,458 |
| 5 | TOTAL LIABILITIES AND EQUITY |
1,156,371 |
(in millions of MNT)
| INCOME STATEMENT | 31/12/2022 | |
| 1 | Interest income |
84,938 |
| 1.1 | From Bank of Mongolia |
415 |
| 1.2 | From Other banks & financial institutions |
2,582 |
| 1.3 | From securities |
4,372 |
| 1.4 | From loans |
72,480 |
| 1.5 | Other interest income |
5,089 |
| 2 | Interest expense |
45,939 |
| 2.1 | Interest expense on current account |
– |
| 2.2 | Interest expense on savings account |
37,816 |
| 2.3 | Interest expense on borrowed funds |
2,376 |
| 2.4 | Interest expense on securities |
1,711 |
| 2.5 | Other interest expense |
4,036 |
| 3 | NET INTEREST INCOME (1-2) |
38,999 |
| 4 | Provision expenses (provision reverse income) |
9,225 |
| 4.1 | Deposits at other banks and financial institutions |
768 |
| 4.2 | Securities |
73 |
| 4.3 | Loans |
8,384 |
| 5 | Net interest income after provision [(3)-(4)] |
29,774 |
| 6 | Other income |
31,889 |
| 6.1 | Non-interest income |
31,440 |
| 6.1.1 | Trading income |
19,213 |
| 6.1.2 | Exchange and revaluation adjustment expense |
10,838 |
| 6.1.3 | Fees and commission income |
1,389 |
| 6.1.4 | Other non-interest income |
– |
| 6.2 | Other income |
449 |
| 7 | Other expense |
48,238 |
| 7.1 | Non-interest expense |
47,591 |
| 7.1.1 | Other provision expense |
58 |
| 7.1.2 | Trade expense |
15,191 |
| 7.1.3 | Exchange and revaluation adjustment expense |
9,883 |
| 7.1.4 | Fees and commission expense |
1,108 |
| 7.1.5 | Other operating expense |
21,351 |
| 7.2 | Other expense |
647 |
| 8 | Profit Before Tax (5+6-7) |
13,425 |
| 9 | Income tax expense |
2,560 |
| 10 | Profit After Taxes (8-9) |
10,865 |
| 11 | Other comprehensive income |
(80) |
| 12 | Total comprehensive income for the year (10+11) |
10,785 |
(in millions of MNT)
| OFF BALANCE SHEET | 31/12/2022 |
| Contingencies and commitments (net) |
11,078 |
| PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA | Limit | 31/12/2022 |
| Tier 1 ratio |
≥ 9% |
26.9% |
| Capital adequacy ratio |
≥ 12% |
26.9% |
| Liquidity |
≥ 25% |
37.0% |
| Foreign currency open position ratio (by each currency) |
< ±15% |
-2.6% |
| Foreign currency open position ratio (total) |
< ±30% |
-3.2% |
(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) |
4.9% |
||
| 1.1 | Shareholders of the Bank |
– |
– |
0.0% |
| 1.2 | Key management personnel |
– |
– |
0.0% |
| 1.3 | Other related parties |
Loan |
9,140 |
4.9% |
| 2 | Total Loans and other equivalent asset provided to related parties (less than 20% of capital) |
18.5% |
||
| 2.1 | Shareholders of the Bank |
Loan |
100 |
0.1% |
| 2.2 | Key management personnel |
Loan |
331 |
0.2% |
| 2.3 | Other related parties |
Loan |
34,020 |
18.2% |
International wire transfers take approximately 1 to 3 business days.
Detailed information about the beneficiary name, account number, full address, beneficiary bank’s swift code, name, address, and remittance purpose must be filled in accurately and legibly.
We offer international remittances services in all major currencies including USD, GBP, RUB, JPY, CNY, EUR, HKD, and SGD.
For an individual:
Please visit any of the TransBank branch with your ID card or please send your request to info@transbank.mn from your registered email address.
For a legal entity:
Please visit any of the TransBank branch with an official letter request or please send your request to info@transbank.mn from the legal entity’s registered email address.
In this case, you can visit the branch with your ID or by calling our Customer Service Center at 7716-9999 for your login name
А one-time password is used when accessing from new devices as well as transactions above MNT 3.0 million., you can receive it through the email, SMS, and/or OTP application. Please note that a one-time password is valid for 2 minutes!
You can reset your password by calling the Customer Service Center at 7716-9999. You can also reset your password by going to the “Password Recovery” section of the Transbank application and entering your You may also reset your password by visiting any of our branches with your ID card.