Mongolbank reveals banks’ ownership details

With none of the 14 commercial banks posting on their website all the information they are legally bound to reveal publicly, the Mongolbank has now published all relevant details about their capital base, shareholding pattern, internal administrative structure, amount and status of loans, assets and liabilities etc. The banks were expected to go public with the information by July 1 and when they failed to do so the deadline was extended to August 31. When this, too, did not lead to full disclosure, the central bank stepped in and provided the details from its own records. The errant banks are likely to be fined around MNT50 million each for their failure to observe the law.

Of the 14 banks operating in the country, the State Bank is State-owned; and three, Chinggis Khaan Bank, Saving Bank, and Credit Bank are 100% foreign-owned; Trade and Development Bank, Khan Bank, National Investment Bank, and Transportation Development Bank have mixed foreign and domestic shareholding; and Golomt Bank, Capital Bank, Capitron Bank, Ulaanbaatar City Bank, Erel Bank, and XasBank are 100% owned by Mongolians.

The total equity of all these banks is MNT252.1 billion. Saving Bank has the largest capital base of MNT60 billion, while Ulaanbaatar Bnk, Erel Bank, and Transportation Development Bank all have MNT8 billion, the minimum capital permitted by the Mongolbank.

Ownership of banks as revealed by Mongolbank.

Sl.No.

Name of the bank

Equity fund amount

Principal share holders
 1
 Saving Bank
 MNT60 billion
Emdi securities LLC
(Just group)
 2

 Chinggis Khaan Bank
 MNT39.3 billion
 Millennium Securities Managements Ltd 50%,Coral Sea Holding Group 50%
 3
 State Bank
 MNT28 billion
 The Finance Ministry 
 4
 Golomt Bank
MNT21.9 billion
 Bodi International Ltd
 5
 Credit Bank
 MNT14.1 billion
Basic Element Finance Limited Company (Cyprus), 100%
 6
 Trade and Development Bank
MNT14 billion
 Global Investment and Development SCA Consortium 65.8%, T.Tsolmon 10.4%, Treasury stock 9.5%,US Global 6.4%,J.Battur 5.7%, 58 individuals own 2.2%.
 7
 Xac Bank
MNT13.3 billion
Tenger Financial unit 99.9%, and 4 individuals own the remaining 0.1%.
 8
 Khan Bank
 MNT12.9 billion
 Savada Holding Co.Ltd 40.2%, Tavan Bogd Trade LLC 35.3%, HS International (Asia) 12.8%, IFC 9.1%, DAI 1.8%, Mongolian Holding Limited Partnership 0.7%, Morrow Family Trust 0.2%.
 9
 National Investment Bank
 MNT8.4 billion
 D.Dagvadorj 55.6%,UB Diversified Ltd 22.2%,Firebird Global Master Fund Ltd 18.5%, Firebird Aurora Fund Ltd 3.8%.
 10
 Capital Bank
 MNT8.1 billion
 Bishrelt Holding LLC 99.9%, Tavan Bogd LLC 0.1%.
 11
 Capitron Bank
 MNT8 billion
 B.Medree 49.0%, P.Munkhsaikhan 46.3%, Trade and Development Bank 4.6%.
 12
 Erel Bank
 MNT8 billion
 B.Erdenebat 100%
 13
 Transportation Development Bank
 MNT8 billion
 Infrastructure 51%, D.Batkhuu 38.8%, D.Enkhtaivan 8.7%, D.Enkhtuya 1.6%.
14
 Ulaanbaatar Bank
MNT8 billion
D.Erdenebileg79.9%, Ulaanbaatar Fund 20.0%, D.Batjargal 0.01%.
 
 Total
 MNT252.1 billion

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