Mongol Post Bank
From Mongol Studies Online Reference
Mongol Post Bank is a commercial bank based in Ulaanbaatar established in 1993. Following a decade of consistent growth, the Bank currently has a network of 86 branches located in Ulaanbaatar as well as each of Mongolia’s 21 provinces. By the end of 2005 fiscal year, the number of clients increased to 30,000 and deposit holders increased to 56,000.[1]
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[edit] Corporate Growth
Since it was founded, Mongol Post Bank’s paid-up share capital has been increasing; at the end of 2005 paid-up capital reached MNT 7 billion. Total assets also reached MNT 100.2 billion (6.3 percent of total assets held by the Mongolian commercial banking sector). Furthermore, it also held 7.5 percent of total deposits and 7.3 of total loans held by the domestic commercial banking sector.[2]
[edit] Corporate Products
Currently, Post Bank provides over 20 types of loans, including business, ger area family business, SME development project, and housing sector development project loans.
In order to provide small businesses with access to financial services, Mongol Post Bank has partnered with ADRA to disburse the “Micro business advancement” since October 2005; they planned to extend the project until the end of 2006 and provide free training and free designing of client’ business projects, as well as low interest loans.[3]
After the Government of Mongolia declared 2004 the “Small Medium Business Development Year”, Post Bank opened a new micro-credit settlement center and 24 hour service branch.Mongol Post Bank. Introduction. Retrieved on 2008-07-22</ref>
[edit] References
- ↑ Mongol Post Bank. Introduction. Retrieved on 2008-07-22
- ↑ Mongol Post Bank. Introduction. Retrieved on 2008-07-22
- ↑ "'Micro Business Advancement' Project Loan Agreement is Signed," Mongol Post Bank (2006-05-22). Retrieved on 2008-07-22
