Mongolia’s largest banks report sharply higher record earnings
Khan Bank’s after-tax net profit for the first 9 months of 2011 was 44.7 billion MNT (36 million USD), up 119% y-o-y and more than total net profit for 2010 of 30 billion MNT.
Trade & Development Bank - 34 billion MNT (27 million USD) and already more than for the whole 2010 net profit of 20 billion MNT.
Golomt Bank – 22 billion MNT (17 million USD) up 82% y-o-y and already more than the whole 2010 net profit.
At September 30, Khan Bank reported total capital of USD 133 million, Golomt Bank USD 111 million and TDB USD 105 million.
According to the Bank of Mongolia, “banks appear to be well capitalized in an overheating economy with very rapid pace of credit growth.”
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : Business Council of Mongolia
Trade & Development Bank - 34 billion MNT (27 million USD) and already more than for the whole 2010 net profit of 20 billion MNT.
Golomt Bank – 22 billion MNT (17 million USD) up 82% y-o-y and already more than the whole 2010 net profit.
At September 30, Khan Bank reported total capital of USD 133 million, Golomt Bank USD 111 million and TDB USD 105 million.
According to the Bank of Mongolia, “banks appear to be well capitalized in an overheating economy with very rapid pace of credit growth.”
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : Business Council of Mongolia
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