Mongolian Economy and Finance

The Trade and Development Bank of Mongolia (TDB) has new biometric access control systems for its rooms and elevators, as well as a time and attendance tracking system, via Anviz Global technology.

Feb 24 Poland's central bank chief may apply for the European Bank for Reconstruction and Development (EBRD) presidency this year, a Polish minister said on Wednesday, challenging a possible bid by Suma Chakrabarti for a second term.

The International Investment Bank (IIB) wrapped up its “Year of Asia” with the 104th Council Meeting in Vietnam , completing the transition programme of the past two years to remake itself into a modern international financial institution (IFI) – with a trade finance twist.

Summary Profits have increased eight-fold since 2009. With GDP growth for 2014 expected to be approximately 7%, Mongolia remains one of the fastest-growing economies in the world. Mongolia's largest and oldest bank. 

(The following statement was released by the rating agency)

(The following statement was released by the rating agency)

Banks in Mongolia are facing weaker profits this year as one of Asia’s fastest growing economies cools, triggering a downpour of higher borrowing costs and an increase in non-performing loans, while credit rating agencies are watching the banks’ vulnerability to China’s continued economic slowdown.

Despite its small and widely dispersed population, Mongolia rates highly in the financial inclusion stakes

The European Bank for Reconstruction and Development (EBRD) announced last Thursday that it has provided an $8 million loan to Mongolia’s Khan Bank to improve financing for micro, small and medium-sized enterprises (MSME).

The European Bank for Reconstruction and Development (EBRD) announced last Thursday that it has provided an $8 million loan to Mongolia’s Khan Bank to improve financing for micro, small and medium-sized enterprises (MSME).

We have received sufficient information from Mongolia-based Golomt to maintain surveillance, including the 2013 annual report.

(Reuters) - Trade and Development Bank of Mongolia, or TDBM, pulled a planned U.S. dollar bond offering because of financial market turmoil triggered by a debt crisis at Portugal's Banco Espirito Santo, IFR reported, citing a banking source.

Hong Kong, July 10, 2014 -- Moody's Investors Service says that the revision of the relevant documentation to exclude a governmental letter of support has no rating implications for the (P)B1 rating on the Trade and Development Bank of Mongolia LLC's (TDBM) $1 billion Global Medium Term Notes (GMTN) Program.

Trade & Development Bank of Mongolia LLC is joining issuers from Pakistan, Bangladesh and Sri Lanka of dollar-denominated bonds as investors scrape for yield among risky credits.

HONG KONG (Standard & Poor's) July 2, 2014--Standard & Poor's Ratings Services today affirmed its 'B' long-term and 'B' short-term issue ratings to a proposed medium-term notes (MTN) program under which Trade and Development Bank of Mongolia LLC (TDB; B/Negative/B) may issue notes up to a maximum of US$1 billion.

MANILA, July 1 (Xinhua) -- The Asian Development Bank (ADB) said Tuesday that it had approved a loan of 40 million U.S. dollars to help Mongolia's small businesses get better access to financing from one of its biggest banks.

HONG KONG (Standard & Poor's) June 17, 2014--Standard & Poor's Ratings Services today assigned its 'B' long-term and 'B' short-term issue ratings to a proposed medium-term notes (MTN) program under which Trade and Development Bank of Mongolia LLC (TDB; B/Negative/B) may issue notes up to a maximum of US$1 billion.

The European Bank for Reconstruction and Development, which invests in developing nations from Mongolia to Morocco , may take part in Serbian asset sales to help the economy as the country aims to join the European Union.

WARSAW (Reuters) - Lending to Russia by the European Bank for Reconstruction and Development could drop as the economy slows, the bank's head said on Thursday, while it may step up loans to countries at risk of economic damage from the Russia-Ukraine crisis.

The extension of a debt repayment by Mongolian Mining Corporation (MMC) highlights the pressures for the industry and the risks for local banks, Fitch Ratings says.