TransBank received its banking license from MongolBank on 28th of February 1997, and had shareholder’s equity of MNT 400 million and seven employees. The bank started its operations with a vision to promote development of the transportation industry, which was stagnant at the time, by providing investment.
On 27th of October 2016, the new shareholders of the bank have received 100% ownership of the bank from its previous shareholders and ended the long-term shareholder dispute at the judicial court. The bank had equity of MNT 16.0 billion and total assets of MNT 9.9 billion when the new shareholders received ownership which were raised to equity of MNT 50 billion and total assets of over MNT 110 billion by the third quarter of 2017. The bank has become the 8th commercial bank to raise its equity to MNT 50 billion and has increased its total assets ten times within one year.
On 26th of September 2017, the Bank of Mongolia approved the increase in shareholders’ equity to MNT 50 billion and Intellectual Property, National General Registration agency has updated the Bank’s state registration license with increased equity, new article and stamp.
This has resulted in achieving our goals in 2017 and the transition period has been successfully completed. The Bank’s investors, Board, and Executive management team is planning in 2018 to enter the banking sector, build our customer base, and increase our competitiveness and have a vision to become a systematically important bank by 2019 and 2020.
Bank’s slogan: Financial partner to accelerate development.
Bank’s vision: To contribute to turning Mongolia to an exporter country from an importer by providing comprehensive financial services.
Bank’s mission: “To become a national leader bank that contributes to the country’s development and economy by introducing the latest financial solutions, and creating added value in mining, agriculture, construction, and processing industries and by providing our customers in these fields with swift and high-quality service”.