An annual meeting of Mongolian Bankers Association was held on August 05, 2019 and organized an election of the president and the vice president of MBA. According to MBA charter, the president and the vice presidents' term of office is two years and legal representative of commercial banks of Mongolia.
In 2018, Ganzorig U, the CEO of Golomt bank, was elected as the President of MBA and this year, the term of presidential authority has been ended. Medree B, the President of TDB, is elected as the President, Otgonbayar M, the CEO of TransBank, and Norikhiko Kato, the CEO of Golomt Bank and Banzragch O, the First Deputy CEO of Ulaanbaatar City Bank are elected as the Vice Presidents with the majority of votes.
The Vice Presidens are elected roles of representing and leading on behalf of the President of the MBA with the term of two years. Otgonbayar M. was appointed as the Chief Executive Officer of TransBank in October 2016 and his previous positions include Mongolian-side manager of a consultancy project “Increasing road safety” under the World Bank and Nordic Development Fund financed “Transport Development Project”, project leader of Asian Development Bank financed “Rural area public institutions development project”, deputy CEO, a head of divisions and departments at Mongol Post Bank and Golomt Bank.
The new elected management team informed to focus on proceeding the work of reducing loan interest, work efficiently and reducing expenses of the bank operation to contribute and lead in a financial and banking sector of Mongolia.