Update on Banking Industry, Jan 2014

Many big events have happened since our last update report on Mongolian banking industry, published on May, 2013. Savings bank bailout, Golomt bank share-holder’s dispute, the rapid depreciation of the tugrik, the release of 8% mortgage loan and the numerous measures by Bank of Mongolia (BOM) to support the shrinking economy. Each of these events had a huge impact not only on banking industry, but also Mongolian financial system and economy. Therefore, in this article, we will focus on following topics.

What are the policies taken by BOM to support the shrinking economy and its impacts on the financial system?
Are Mongolian banks still healthy? (Highlights of financial statements of major banks as of end of 3Q,2013)

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