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| Capital bank awards “The Best Contributor Bank”
Capital Bank has become the “The Best Contributor Bank” from the UBIBOR Contest which is annually organized by Thomson Reuters and the Financial Markets Association of Mongolia. The Mongolian commercial banks’ dealers have been competing for 3 months, in the field of fixing the realistic interest rate in the market. UBIBOR /Ulaanbaatar interbank offered rate/ is the most widely used benchmark rate for money market MNT /Mongolian tugrik/ interest rates. It is based on offered inter-bank deposit rates contributed by Contributor Banks. Capital Bank introduced UBIBOR savings and loan product in December 2008 which protects the own capital from interest rate risks.
(copied by capitalbank.mn) |
| | Khan Bank has been selected as “The Bank of the year 2010 for Mongolia” again
Global Finance magazine, headquartered in New-York city, USA has named the “Best Emerging Market Banks in Asia” on March 16, 2010 based on its exclusive survey. Global Finance selected best emerging market bank in the region and 20 countries and Khan Bank has been selected as “The Best Bank in Mongolia”.
This is the seventh year that the magazine has named Khan Bank as “The Best Bank in Mongolia”. With 100% online 490 branch units throughout the country, the bank has been providing comprehensive financial services to over 80% of all families in Mongolia. Khan Bank has been selected as “The Best Bank in Mongolia” for its achievements in last year such as the bank increased its equity 1.6 times reaching to 128.3 billion MNT and became the first bank with 1 trillion MNT in assets and granted its 5 millionth loan in addition to launches of variety of innovative products in the market.
With input from industry analysts, corporate executives and banking consultants, Global Finance editors included growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products in criteria for choosing the winners.
Joseph Giarraputo, publisher of Global Finance magazine that has selected top banking performers in emerging markets for 17th year says “We remain in an unusually challenging environment for banks and their customers. More than ever, customers are demanding superior competence from their banking partners”. These are the leading banks best providing that competence. These world recognized award winners are HSBC, regional winner and world leading banks including ICBC Bank from China, Shinhan Bank from Korea, HDFG Bank from India. |
| | 2010-04-14 | TRADE & DEVELOPMENT BANK |
| TDB signed an agreement with ADB for cooperating trade finance
On 24 March 2010, TDB representatives signed "Issuing Bank Agreement" with ADB under Trade Finance Facilitation Program. According to this agreement, ADB has approved clean trade finance line for TDB which it allows letter of credit, guarantee issued by customers will be confirmed and refinanced by top rated foreign banks.
The payment risk is the main issue for the companies and firms in most developing member countries and they have difficulty to get the financing for importing or exporting the products and services. As a result of signing this agreement, many Mongolian foreign trade companies are protected from payment risks as well as supported by foreign banks. Also, TDB's correspondent relationship is increased by many foreign banks which signed confirming bank agreement with ADB.
The ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through inclusive economic growth and regional integration. Also, ADB helps to local banks for increasing their trade finance volume and allows their customers to cooperate international trading companies and firms around the world.
(copied by www.tdbm.mn) |
| | 2009-07-30 | NATIONAL INVESTMENT BANK |
| National Investment Bank of Mongolia and London Stock Exchange have successfully organized an exclusive seminar
National Investment Bank of Mongolia, Baker Tilly, Capita Registrars, Evolution Securities China and London Stock Exchange have successfully organized this exclusive seminar on October 21, 2008 in Ulaanbaatar, Mongolia to find out how Mongolian companies can benefit from joining AIM, the world’s most successful international market for smaller growing business. 160 people have attended this seminar including enterprises, ministries, and governmental administrations. Moreover, the seminar provided an understanding of all you need to know to capitalise on the opportunities that AIM offers to Mongolian companies.
Topics that covered in this seminar include:
Update on AIM – Naomitsu Abe, Senior Manager, London Stock Exchange
The role of the nominated adviser and broker – Evolution China
The role of reporting accountant – Kevin Denham, Baker Tilly
The role of the lawyer – Brad Herrold, Lawyer, Lovells
Settlement / The role of the Registrar / Depository – Paul Etheridge, Head of Business Development, Capita Registrars
Case Study – Douglas John McGay, CEO, Petro Matad
The introduction of NIBM - Theodore George Meegan, Vice President, NIBM
AIM is the London Stock Exchange's international market for smaller growing companies. On AIM you will find a wide range of businesses ranging from young, venture capital-backed start-ups to well-established, mature organisations looking to expand. Since its launch in 1995, over 2,100 companies have chosen to join AIM, creating a unique community of innovative and entrepreneurial companies. AIM’s success is built on a simplified regulatory environment which has been specifically designed for the needs of smaller companies. |
| | XacBank Launches Partnership with Kiva
ULAANBAATAR (July 6, 2009) -- XacBank, Mongolia’s largest microfinance institution recently launched its partnership with Kiva, the world’s first person-to-person micro-lending website. XacBank’s clients are now featured on Kiva.org, and individual lenders from around the world can make small loans of $25 over the Internet to micro entrepreneurs in Mongolia. These small loans help businesses such as butcher shops, furniture stores and beauty salons to succeed while enabling hardworking Mongolians to provide food and education for their families.
The Kiva partnership provides XacBank an additional source of debt capital at 0% interest from the online community, enabling XacBank to expand its microloan capacity and return a portion of the interest back to the borrower at the end of the loan term.
Thus far, almost 9,000 lenders from 71 different countries (even Antarctica!) have made loans to 362 XacBank clients. Kimberly Fitzmorgan, a recent transplant to Mongolia working at Steppe Riders, leads the lending with 100 loans to Mongolian entrepreneurs thus far. In addition, UMO, a local car rental company in Ulaanbaatar, has made significant contributions to borrowers in Mongolia, Kenya, Peru and several other countries.
“XacBank was selected as a partner due to its incredible reputation in the microfinance industry,” said Jenny Boyd, the Kiva Microfinance Partnership Manager for Central Asia and Eastern Europe.
Munhmandah O., Microfinance Manager at XacBank, manages the Kiva project and has targeted five core XacBank branches to receive the first set of Kiva loans. XacBank has a $1,000,000 outstanding credit limit with Kiva and will soon expand the Kiva loan product to additional XacBank branches. XacBank has a five star rating on Kiva.org, which indicates low risk and high likelihood of repayments.
To get involved with the Kiva project at XacBank, please visit the Kiva website at www.kiva.org and register as a lender to make your first $25 loan to a Mongolian borrower, or contact XacBank at bank@xacbank.mn This e-mail address is being protected from spambots. You need JavaScript enabled to view it for more information on its microloan products.
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| | KHAN BANK HAS AWARDED SCHOLARSHIP TO 302 STUDENTS FOR ACADEMIC YEAR 2008-2009
Following the successful launch of a scholarship program for the children of Khan Bank staff in 2001, the Khan Bank Foundation expanded its scholarship program in 2007 to the public to award university and college tuition fees to talented and well-performing secondary school graduates with limited financial capabilities.
In the academic year 2008-2009, the Foundation has awarded scholarship to 302 outstanding and best students from 21 provinces of Mongolia All the scholarship recipients gathered in the Khan Bank Theater on 16th of September, 2008 to get to know each other & to exchange views on how to take part in various activities supported or organized by Khan Bank Foundation.
The event had many highlights. It was opened by J. Peter Morrow, CEO of Khan Bank, followed by a message from the Minister of Education, Culture and Science delivered by Mr. Bat-Erdene, Head of the Higher & Vocational Education Department of the Ministry. Afterwards, the students were introduced to the programs & activities of the Khan Bank Foundation and enjoyed speeches by the winners of the National Public Speaking Contests and performances of pop singer Sarantuya, country singer Delgermaa, and contortionists of the ‘Angels’ Center.
The gathering of the scholarship awardees has brought some beneficial results. In particular, the students worked in six teams representing different regions of Mongolia: Western, Eastern, Khangai, Central, Gobi, and Northern and Ulaanbaatar regions. The teams were given tasks to find a name for their team and to make suggestions on how to participate in community activities of Khan Bank. The teams selected team leaders to directly correspond with Khan Bank and to organize team members.
The teams came up with a number of interesting suggestions on how Khan Bank and the Foundation might engage the scholarship recipients in their activities. Some of their productive suggestions include establishment of Khan Bank Scholarship Recipients’ Club, organization of competitions among them, and having a website or forum for the students. Moreover, they expressed their willingness to organize a promotion day for Khan Bank, and to participate in environmental projects.
In addition to granting tuition fees, Khan Bank has begun to take the initiative to contribute to the personal development of the scholarship recipients and to helping them grow as a responsible citizens in the communities where they live. |
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