A brief introduction to the Bank

TransBank (Transport and Development Bank LLC) (the Bank) originally received its banking license from the Bank of Mongolia on February 28, 1997. 

October 27, 2016, was an historic day for the Bank, marking the day on which it re-established its operations. On that day, the Bank’s new shareholders acquired 100% ownership of the Bank from its previous shareholders. Following the acquisition, the new Board of Directors and the executive management team defined and planned its short and long term strategic goals. The Bank has been operating progressively since then.

When the new shareholders took ownership, the Bank had equity of MNT 16 billion and total assets of MNT 9.9 billion. This had increased to equity of MNT 50 billion and total assets of MNT 203 billion by 2017. 

By the end of 2018, the equity had increased to MNT 78 billion and total assets to MNT 501.8 billion. The Bank ranked 7th out of 14 commercial banks in terms of its total assets and became the leading bank in terms of its capital adequacy ratio. The Bank increased its assets by 2.4 times within one year.

By December 31, 2018, the increase in equity capital had strengthened the Bank's liquidity ratio by 33.7% and its capital adequacy ratio (CAR) by 24.2%.

In 2019, the Bank is aiming to increase its equity capital by MNT 22 billion to 100 billion MNT in order to strengthen its risk management capabilities, improve its future growth and provide financially reliable, mutually beneficial support to its clients.

In order to further strengthen reporting standards, The Bank entered into a consulting partnership with PwC, one of the world’s four largest international accounting firms, on May 31, 2018. The consulting project focused on International Financial Reporting Standards No. 9, 15 and 16, and enabled the Bank to bring its reporting into line with international standards. Following the implementation of the PwC recommendations, all financial statements publicly issued in 2018 were prepared according to international standards.

TransBank was rated by the internationally recognized credit rating agency, Moody’s, in 2017 and was assigned the following ratings:

  • Bank Deposits – Dom Cur  - B3
  • Baseline Credit Assessment - B3
  • Adjusted Baseline Credit Assessment - B3
  • The Bank’s overall outlook - Sustainable

In addition, the Bank successfully passed the Asset Quality Review (AQR), jointly facilitated by the International Monetary Fund, the Government of Mongolia and the Bank of Mongolia. TransBank obtained a "Sufficient" rating in terms of its equity capital.

In 2018, the Bank's investors, the board of directors and the executive management team executed plans designed to increase market share, strengthen the client base and improve competitiveness. 

In 2019, the Bank  will bring quality services and financial solutions to the banking sector to create opportunities within the mining, agriculture, construction and manufacturing sectors. We believe our strategies will contribute to the development of the Mongolian economy and support our objectives of becoming the leading national bank in Mongolia.

The Bank’s slogan: Your financial partner to accelerate development.

The Bank’s vision: To provide comprehensive financial services that enhance Mongolia’s export competiveness and promote domestic production.

The Bank’s mission: Our mission is to become a leading national bank that contributes to the country`s development and economy. By introducing the latest financial solutions and providing responsive and prompt services, we aim to create added value in the mining, agriculture, construction and processing sectors.

Bank’s values: