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Trade credit line

Requirements

Running the business in the last 12 months and continuing it as a going concern
Good credit history and score and other evidence of ability to repay the loan
Collateral to satisfy the bank’s requirements
Other requirements from the bank on a case by case basis

Trade credit line

Required documents

Official request/amount, interest, term and collateral pledged should be mentioned/
Loan Application / Bank’s application /
Resolution of the Board of Directors on obtaining a loan. / Decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
Copy of company certificate, copy of company charter / stamped by state registration office /
Copy of ID card of the person authorized to sign the loan agreement (founders, CEO, CFO, etc.), borrower’s application form (if legal entity)
Business licenses, plans and other documents
The purpose of the loan, contract, project, etc.
The market and competitor’s analysis
Tax reference
GCCA reference / in the name of the organization and shareholders /
Reference from GASR / on behalf of enterprises and major shareholders /
Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year /
Financial statements at the end of the year. These include: list of receivables, current assets, fixed assets, payables and liabilities and sales, unit cost, balance sheet for the last 1 year
Account statement / last 12 months /
Pledge of immovable property (if the pledged property is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution authorizing to pledge)
Collateral historical and detailed reference
Pledged land certificate, contract and cadastral map
List and certificate of pledged machinery and equipment
Proof of tax payment in case of real estate purchase
Loan agreement and loan account statement if you have outstanding loans with other banks and NBFIs.
Other required additional materials

Gold program on-lending

Product Terms /Gold-Long-Term Financing/

Post author By Tsolmonbayar
Post date May 13, 2022
No Comments on Product Terms /Gold-Long-Term Financing/

Conditions	MNT
Maximum loan amount	The loan amount shall not exceed 18 percent of the Bank’s equity and the financing shall not exceed 30 percent of the amount of gold reserves in togrogs in the license area owned by the gold mining company.
Loan interest rate /monthly/	1%
Loan interest rate /anual/	12% (Policy interest rate + 3%)
Loan term	Up to 24 months
Service fee	1% of the loan amount or up to a maximum of MNT 1,500,000
Penalty interest rate	Penalty interest rate is equal to 20% of the base interest rate
Fee for changing the original loan terms	0%
Grace period	The Loan Committee shall decide and may be for a period determined by the Bank of Mongolia
Application fee	30,000 MNT
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate – 1,000 MNT

Gold program on-lending

Requirements

Funding shall not exceed 30 percent of the amount of gold reserves in togrogs in the license area owned by a gold mining business entity;
Participating gold mining companies must use the loan for investment purposes;
The participating gold mining business entity must fully agree to the terms of selling the mined gold to the Bank of Mongolia during the financing period and will pay in MNT according to the loan repayment schedule;
There is no debt classified in the name of the company;
The borrower must have sufficient cash flow to repay the loan and interest and have sufficient collateral.

Financial lease

Benefits

Flexible and favorable conditions.

Credit line

Terms and conditions

Line Loan	MNT	USD	EUR	CNY	JPY
Maximum loan amount	The maximum loan amount depends on the size of the business, capital and financial capacity.
Loan interest rate / monthly/	2.00%-1.60%	1.50%-1.10%	1.20%-0.85%	1.20%-0.85%	1.20%-0.85%
Loan interest rate / annual /	24.00%-19.20%	18.00%-13.20%	14.40%-10.20%	14.40%-10.20%	14.40%-10.20%
Loan interest rate / annual /	2.8%-4.2%	2.0%-3.6%			1.5%-3.0%
Loan term	60 months up	to 36 months
Service fee	1% of the loan amount or maximum amount of MNT 1,500,000	0.5% of the loan amount or maximum amount of USD 1,500 and its equivalent in EUR, CNY and JPY
Increased interest	The accrued interest is equal to 20% of the principal
Initial loan change fee	0%
The application fee	30,000 MNT
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Entity – 1,000 MNT

* Effective percentage rate /annual/: MNT 19.69%-24.51%

Credit line

Requirements

Experience in continuous business for the last 12 months;
Have a good credit history and good creditworthiness;
Must meet the requirements of collateral (real estate and real property);
Must meet other requirements set by the bank.

Credit line

Required materials

Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
Loan application / by the form /
Resolution of the Board of Directors (Shareholders’ Meeting) on obtaining a loan. /Decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
Copy of company certificate, copy of company charter /stamped by State Registration Office/
Copy of ID card of the person authorized to sign the loan agreement (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
Special licenses, business plan and other documents
Information about the purpose of loan, contracts and agreements, projects, etc.
Information about the market and competitors
Tax authority reference
Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
Reference from State Registration Office /on behalf of enterprises and major shareholders/
Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
Details of the financial statements as of the end of the year. Includes: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost, balance sheet for the last 1 year,
Account statement / As of the last 12 months /
Pledge certificate of real estate (if the pledge is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution to allow pledge)
Mortgage reference / historical, detailed /
Pledge certificate, contract and cadastral map
List and certificate of pledged machinery and equipment
Proof of tax payment in case of real estate purchase
Loan agreement and loan account statement if you have loan balances with other banks and NBFIs.
Other necessary additional materials

Credit line

Required documents/ Individual/

Post author By Tsolmonbayar
Post date May 13, 2022
No Comments on Required documents/ Individual/

Loan application / bank form /, 1 copy of photo,
A copy of the borrower’s and co-obligor’s ID card / loan specialist will be required to make a notarized copy of the document if the loan specialist has reviewed the original, signed and certified and kept in the loan personal file. A notarized copy is required, unless the original is considered /
Proof of residence and reference from the General Police Office
Pledged property documents, pledged real estate certificate, reference, land certificate, contract, cadastral map
Income confirmation documents and bank account statements
Permission to operate and lease agreement
Proof of loan purpose
Other required documents
Proof of tax payment in case of real estate purchase

Executive management team

Erdenebayar Batchuluun

Post author By Nasantsatsral B
Post date May 13, 2022

Mr. Erdenebayar Batchuluun graduated from the School of Economics of the National University of Mongolia with a bachelor’s degree in Financial Management from 2004 to 2008 and a master’s degree in Banking and Finance from the University of Luxembourg from 2015 to 2017, a management program at New York University in 2016. He has a CFA level 2 and ERM level 1 international certificate.

He has more than 14 years of professional experience in the banking and finance sector. During his tenure, he has fulfilled positions as a financial analyst at XacBank from 2008 to 2010, a senior financial analyst from 2010 to 2012, Head of the Financial Management department from 2012 to 2015, specialist at Schroder’s asset management company from 2016 to 2017, Head of the Product/Business development department at XacBank from 2017 to 2020, Chief Executive Officer at Credit bank in 2020, and as Chief Executive Officer at TransBank from 2020 to 2022.

Mr. Erdenebayar has served as a member of TransBank’s Board of Directors since January 2, 2023, and was appointed Chairman of the Board in October 2023. Effective August 26, 2024, he has been appointed as the Interim Chief Executive Officer while also maintaining his position as a member of the Board.

Executive management team

Sandagsuren Ayurzana

Sandagsuren Ayurzana served as a Vice President, Corporate Banking of TransBank since August 2021, and has been promoted to Deputy CEO of TransBank in June 2022.

With over 15 years of experience in the banking and financial sector, he worked as a loan officer, risk officer and Head of settlement center of Zoos Bank, Branch director, Head of corporate relations division at State Bank, Head of business development division at Chinggis Khan Bank, and as CEO and Deputy CEO at Credit Bank.

He graduated from Ulaanbaatar’s Secondary School No. 11 with advanced training in Physics and Mathematics in 2001, National University of Mongolia in 2005 with bachelor’s in banking and finance, National University of Mongolia in 2008 with master’s in business management, National University of Mongolia with doctor’s in finance, University of Central Queensland, Australia in 2017 with master’s in business management.

He is responsible for providing integrated management and directions to of business units of the Bank.

Executive management team

Erkhembayar Baltsukh

Erkhembayar Baltsukh was appointed as a Deputy CEO at the TransBank of Mongolia since April 2021.

Has over 23 years of professional experience in banking and financial
management. She started her career as an Economist at Ard Bank of Mongolia in 1994, Accountant and Fund Manager at Curanda Assistant AB, Sweden in 2003, Head of International Baking Department and RGB advisor at TransBank of Mongolia from 2009 to 2021.

Erkhembayar B. graduated from National University of Mongolia with a Bachelor’s degree in Banking and Finance and holds an MSc in Economics from Stockholm University, Sweden.

Trade credit line	MNT	USD	EUR	RMB	JPY
Credit maximum	Depends on the size of the business, capital, financial capacity, and trade turnover.
Commercial credit line opening service fee / no service fee is charged for opening a line backed by term deposit as collateral /	1% of the line amount up to a maximum of 1,500,000 MNT	1% of the line amount up to a maximum of 1,000 USD	1% of the line amount up to a maximum of 1,000 EUR	1% of the line amount up to a maximum of 5,000 RMB	1% of the line amount up to a maximum of 5,000 JPY
Commitment fee/ annually/	0%-2.0%
Term of trade credit line	Up to 60 months
Fee for changing the original loan terms	0%
Application fee	30,000 MNT	10 USD	10 EUR	100 RMB	1,000 JPY
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate- 1,000 MNT
Note: – If the interest rate of the external source line is 0%, the customer’s commercial loan interest rate may be 0%.

Pre-shipment loan terms	MNT	USD	EUR	RMB	JPY
Maximum amount	Within the credit lines, the amount of trade agreements and transactions shall not be exceeded
Interest rate /annually/	Source cost + 2.0% -4.0%
Loan term (depending on product turnover)	Up to 60 months
Service fee	0%
Application fee	30,000 MNT
Full and partial prepayment fee	According to the terms of the foreign bank interest rate
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate- 1,000 MNT
Note: The cost of resources includes tax costs associated with attracting external resources, interest and non-interest costs, and required reserve costs.

Post-shipment loan terms	MNT	USD	EUR	RMB	JPY
Maximum amount	Within the credit lines, the amount of trade agreements and transactions shall not be exceeded
Interest rate /annually/	Source cost + 2.0% -4.0%
Loan term (depending on product turnover)	Up to 60 months
Service fee	0%
Application fee	30,000 MNT
Full and partial prepayment fee	According to the terms of the foreign bank interest rate
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate- 1,000 MNT
Note: The cost of resources includes tax costs associated with attracting external resources, interest and non-interest costs, and required reserve costs.