Banking

While early 2014 was a time of considerable uncertainty for the banking sector in Mongolia, the year turned out to be much better than expected. No banks failed or faced runs, and the institution that generated the greatest concern – Golomt Bank – fared well in the end. Questions about asset quality persist, and corporate governance may not yet be where it should be. However, with Golomt Bank looking increasing sound, sentiment has turned hopeful. Despite challenges, the sector continues to have good long-term potential as Mongolia’s considerable natural resources and stability promise to continue attracting international investor interest as soon as commodity prices recover.

This chapter contains an interview with N. Zoljargal, Governor, Bank of Mongolia; and a roundtable with G. Ganbold, Former CEO, Golomt Bank; Norihiko Kato, CEO, Khan Bank; D. Batsaikhan, CEO, State Bank; Randolph Koppa, President, Trade and Development Bank; and M. Bold, CEO, XacBank and President, Mongolia Bankers Association.