Categories
Outgoing international remittance

Charges

CURRENCY

 AMOUNT OUR BANK FEE

CORRESPONDENT BANK FEE

U.S. Dollar

<5,000

15,000 MNT

20 USD

5,000.01-100,000

25,000 MNT

>100,000.01

35,000 MNT

Guaranteed remit in full service

35 – 60 USD

U.S. Dollar (to South Korea)

<5,000

15,000 MNT

25 USD

5,000.01-100,000

25,000 MNT

>100,000.01

35,000 MNT

Euro /to Germany/

<2,500

15,000 MNT

5 EUR

2,500.01-12,500

25,000 MNT

10 EUR

>12,500

35,000 MNT

20 EUR

Euro /to other countries/

–

30,000 MNT

20 EUR

Chinese Yuan

<100,000

No fees will be charged until December 31, 2025.

No fees will be charged until December 31, 2025.

>100,000

Japanese Yen

–

12,000 MNT + 0.3% (when paying in cash)

0.05% (min. 2,500 JPY)

Russian Ruble

–

15,000 MNT + 1.5% (when paying in cash)

–

British Pound

–

15,000 MNT + 0.3% (when paying in cash)

15 GBP

Hong Kong Dollar

–

25,000 MNT + 0.3% (when paying in cash)

200 HKD

Singapore Dollar

–

20,000 MNT + 0.3% (when paying in cash)

25 USD

Turkish Lira

–

15,000 MNT

100 TRY

Others

–

32,000 MNT

35 EUR

 

Categories
Outgoing international remittance

Charges for recalling and amending international transfers and inquiries at the request of customer

SERVICES

 CURRENCY

FEE
Amendment, Recall and Return

USD

 30 USD
EUR

50 EUR

CNY

 50 CNY
JPY

7,500 JPY

RUB

 300 RUB
GBP

50 USD

HKD

 20 USD
SGD

20 USD

TRY

250 TRY
Inquiry

USD

30 USD

EUR

CNY

JPY

RUB

GBP

HKD

SGD

TRY
Categories
Outgoing international remittance

Things to keep in mind when sending international payments

Please kindly note that the following information must be obtained from the payee in advance when sending a payment to a foreign country. These include:

  1. Recipient’s full name, address and ID document number
  2. Recipient’s bank name and SWIFT code
  3. Name of the correspond bank of the payee bank, SWIFT code (if any)
  4. in the remittance information field, specify the purpose of the payment (for example, tuition, gifts, donation, etc.)
Categories
Outgoing international remittance

Terms of the intermediary bank fee

Which party is responsible for the correspondent bank’s fee:

  1. SHA – Remitter is not responsible for the intermediary bank fees and the fees will be deducted from the total amount by the correspondent banks
  2. OUR – Remitter is responsible for the first intermediary bank fees. Other intermediary bank fees will be deducted from the total amount transferred.
  3. Fullpay /G-OUR/ – This option is only available for USD transfers. Remitter is responsible for all banking charges and the beneficiary will receive the payment in the full amount.
Categories
Outgoing international remittance

Mandatory reminders when sending international payments

Dear customers, if you are planning to send international payments to foreign countries, please pay attention to the information below:

  1. If you are a foreign trader and you have received an e-mail asking you to transfer the payment to another account, therefore informing you that the beneficiary information has changed, you should contact the customer via phone call to confirm the changed information.
  2. If you have lost your personal photo or video to a stranger online and are being pressured to make payments to them, we advise you to notify the police immediately.
  3. Please note that, if you receive a notification about a random lottery win or a large amount of cash on your computer or mobile phone and it asks you to transfer a payment as an advance. This is a common case of cyber crime.
  4. If you suspect that any of the above incidents have occurred or may occur to you, please contact the Police at 11-311606 or 102 for more information and advice. You may also send an electronic complaint to the Police at www.service.police.gov.mn, where you can submit your application.
Categories
Quarterly financial statements

2024 year III quarter

STATEMENT OF FINANCIAL POSITION

(MNT million)

1 ASSETS
1.1 Cash and cash equivalents                           184,400
1.2 Due from banks and financial institutions 44,971
1.3 Financial investments 25,173
1.4 Loans and advances to customers (net)                           651,366
1.4.1      Performing loans                           615,595
1.4.2      Non-performing loans 56,644
1.4.3      Deferred loan payment (104)
1.4.4      Accrued interest receivable 16,528
1.4.5      Loan loss provision (37,297)
1.5 Derivative financial assets 1,069
1.6 Other financial assets 1,130
1.7 Other non-financial assets 21,298
1.8 Fixed assets 17,792
1.9 Properties held for sale 24,267
1.1 Intangible assets 13,470
1.11 Total assets 984,936
2 LIABILITIES
2.1 Current accounts 47,347
2.2 Savings accounts 430,781
2.3 Due to banks and financial institutions 242,506
2.4 Other funds 30,997
2.5 Derivative financial liabilities 1,827
2.6 Other liabilities 26,526
2.7 Total liabilities 779,984
3 EQUITY
3.1 Share capital 146,474
3.2 Share premium 15,647
3.3 Treasury shares (7,032)
3.4 Retained earnings 49,764
3.5 Other reserves 99
3.6 Total equity 204,952
4 TOTAL LIABILITIES AND EQUITY 984,936

(MNT million)

OFF BALANCE SHEET
Contingencies and commitments (net)                             12,107

 

INCOME STATEMENT

(MNT million)

1 Interest income

  90,001

1.1      From Bank of Mongolia

164
1.2      From banks and financial institutions          667
1.3      From securities      6,932
1.4      From loans 80,590
1.5      Other interest income           1,648
2 Interest expense  65,392
2.1      Interest expense on current accounts         1,057
2.2      Interest expense on savings accounts 42,517
2.3      Interest expense on borrowed funds 17,433
2.4      Interest expense on securities        363
2.5      Other interest expenses         4,022
3 Net interest income (1-2) 24,609
4 Provision expense                                       –
4.1      Deposits at banks and financial institutions                         –
4.2      Securities              –
4.3      Loans              –
5 Net income after provision (3-4) 24,609
6 Other income 17,737
6.1 Non-interest income 17,596
6.1.1      Trading income          7,363
6.1.2      Foreign exchange and revaluation income           8,519
6.1.3      Fees and commission income            1,043
6.1.4      Other non-interest income             671
6.2 Other income, gain 141
7 Other expenses  32,494
7.1 Non-interest expenses 31,829
7.1.1      Other provision expense               946
7.1.2      Trading expense             2,811
7.1.3      Foreign exchange and revaluation expense       8,087
7.1.4      Fees and commission expense           1,161
7.1.5      Other operating expenses 18,824
7.2 Other expenses, losses              665
8 Profit Before Tax (5+6-7)                                9,852
9 Income tax expense              1,799
10 Net profit for the year (8-9) 8,053
11 Other comprehensive income            –
12 Total comprehensive income for the year (10+11)            8,053

 

PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA LIMIT PERFORMANCE
Tier 1 capital ratio ≥ 9% 23.9%
Capital adequacy ratio ≥ 12% 23.9%
Liquidity ratio ≥ 25% 30.2%
Foreign currency open position ratio (single currency) < ±15% 7.2%
Foreign currency open position ratio (total) < ±30% 14.5%

 

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 6,780 3.3%
2 Total loans and advances to related parties (less than 20% of total equity) 11.2%
2.1 Bank shareholders Loan 100 0.0%
2.2 Key management personnel Loan 1,125 0.5%
2.3 Other related parties Loan 21,805 10.6%
Categories
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Billionaire Premium UP card

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Categories
Quarterly financial statements

2024 year II quarter

STATEMENT OF FINANCIAL POSITION

(MNT million)

1 ASSETS
1.1 Cash and cash equivalents

185,800
1.2 Due from banks and financial institutions

39,169
1.3 Financial investments

7,359
1.4 Loans and advances to customers (net)

642,972
1.4.1      Performing loans

612,821
1.4.2      Non-performing loans

58,444
1.4.3      Deferred loan payment

(140)
1.4.4      Accrued interest receivable

13,112
1.4.5      Loan loss provision

(41,265)
1.5 Derivative financial assets

1,676
1.6 Other financial assets

455
1.7 Other non-financial assets

13,121
1.8 Fixed assets

17,592
1.9 Properties held for sale

17,799
1.1 Intangible assets

13,511
1.11 Total assets

939,454
2 LIABILITIES
2.1 Current accounts

40,476
2.2 Savings accounts

347,440
2.3 Due to banks and financial instituitions

307,598
2.4 Other funds

14,162
2.5 Derivative financial liabilities

2,990
2.6 Other liabilities

24,340
2.7 Total liabilities

737,006
3 EQUITY
3.1 Share capital

146,474
3.2 Share premium

15,647
3.3 Treasury shares

(7,032)
3.4 Retained earnings

47,260
3.5 Other reserves

99
3.6 Total equity

202,448
4 TOTAL LIABILITIES AND EQUITY

939,454

(MNT million)

OFF BALANCE SHEET    
    Contingencies and commitments (net)

                            11,553

INCOME STATEMENT

(MNT million)

1 Interest income                             62,130
1.1      From Bank of Mongolia

          118
1.2      From banks and financial institutions

             573
1.3      From securities

             4,142
1.4      From loans

                            56,158
1.5      Other interest income

                  1,139
2 Interest expense                             42,128
2.1      Interest expense on current accounts

               826
2.2      Interest expense on savings accounts

                            28,503
2.3      Interest expense on borrowed funds

        9,844
2.4      Interest expense on securities

            283
2.5 Other interest expenses

              2,672
3 Net interest income (1-2)                             20,002
4 Provision expense

                 3,363

4.1     Deposits at banks and financial institutions

          –
4.2      Securities

                 –
4.3      Loans

         3,363
5 Net income after provision (3-4)                             16,639
6 Other income                             12,381
6.1 Non-interest income                             12,246
6.1.1      Trading income

           4,921
6.1.2      Foreign exchange and revaluation income

          6,448
6.1.3      Fees and commission income

                760
6.1.4      Other non-interest income

           117
6.2 Other income, gain

                               135
7 Other expenses                             22,797
7.1 Non-interest expenses                             22,468
7.1.1      Other provision expense

               925
7.1.2      Trading expense

                  2,138
7.1.3      Foreign exchange and revaluation expense

               5,975
7.1.4      Fees and commission expense

               800
7.1.5      Other operating expenses                 12,630
7.2 Other expenses, losses

                 329
8 Profit Before Tax (5+6-7)

        6,223

9 Income tax expense

       674
10 Net profit for the year (8-9)

       5,549

11 Other comprehensive income

           –
12 Total comprehensive income for the year (10+11)

           5,549

 

PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA LIMIT PERFORMANCE
Tier 1 capital ratio

≥ 9%

24.3%
Capital adequacy ratio

≥ 12%

24.3%
Liquidity ratio

≥ 25%

30.8%
Foreign currency open position ratio (single currency)

< ±15%

8.4%
Foreign currency open position ratio (total)

< ±30%

10.4%

 

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) 3.2%
1.1 Bank shareholders                                  –                                       – 0.0%
1.2 Key management personnel                                  –                                       – 0.0%
1.3 Other related parties Loan                          6,449 3.2%
2 Total loans and advances to related parties (less than 20% of total equity) 11.9%
2.1 Bank shareholders Loan                               100 0.0%
2.2 Key management personnel Loan                               532 0.3%
2.3 Other related parties Loan                         23,590 11.6%