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Best Bank: Khan Bank |
There are two commercial banks of note in Mongolia and both have had good years. Trade Development Bank of Mongolia (TDBM) had what it called "a breakthrough year" in 2006, with profits up 60% and assets up 40%; it is the largest bank in the country by balance sheet and has a strong corporate and SME client base. But its improvements were not quite enough to prise the best bank title from Khan Bank, the country’s largest retail bank by loans, deposits, branches and borrowers. Khan boasts the highest overall profits in the country, employs 40% of the people in the national banking system, and has the most eye-catching ratios: 4.4% return on assets and 57.3% return on equity in 2006, with non-performing loans now accounting for only 1.53% of assets. Over the past year it has set up a new card and payment processing centre, launched internet banking and set up its Incubator business to target the SME sector. It has built a foundation for corporate banking and the future looks bright.