In some ways, Mongolia can be considered “well-banked” in terms of banking access. It has one of the highest branch per capita ratios in the world. At 69 per 100,000 (according to World Bank 2012 numbers), it has far more banking outlets for each inhabitant than its peers and neighbours: South Korea is at 18; China, 8; and Russia, 38. Additionally, over 80% of Mongolians...
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Articles & Analysis | Mongolian banks' strong track record in reaching residents in remote areas from The Report: Mongolia 2015
Interviews & Viewpoints | N. Zoljargal, Governor, Bank of Mongolia (BOM): Interview from The Report: Mongolia 2015
What is the importance of attracting increased foreign investment? How has balance of payments (BoP) pressure impacted economic stability?
Articles & Analysis | Concerns about Mongolia's banking sector, but also signs of improvement from The Report: Mongolia 2015
Banks in Mongolia saw weaker profits in 2015 as one of Asia’s fastest growing economies cools, triggering higher borrowing costs and an increase in non-performing loans (NPLs), while credit rating agencies are also watching the banks’ vulnerability to China's continued economic slowdown. Recent downgrades in Mongolia's sovereign credit rating following falls in commodity...
Articles & Analysis | Mongolia's banking sector on the rise after a downturn in recent years from The Report: Mongolia 2015
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. As the sector’s third-largest player by assets, a collapse at Golomt Bank would have caused serious...
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...
Given the significant foreign direct investment needed to achieve its development goals, Mongolia has strong motivation to improve its attractiveness to investors. The government is therefore adjusting its policies, while new laws are expected to gradually reinvigorate foreign investment flows.