Best bank: Khan Bank
Khan Bank, Mongolia’s largest bank with a 30% market share, receives the award as the country’s best bank in recognition of its solid growth and the successful completion of its initial public offering.
In April 2023, Khan Bank made history by conducting the largest IPO on the Mongolian stock market, raising $53 million. The bank plans to allocate 35% of the raised funds to digital transformation and 34% to green sustainable programmes, demonstrating its commitment to sustainability.
AfE 2024
There has been a 16% year-on-year increase in total assets and a 21% rise in total loans, largely driven by the launch of new digital consumer loans. Khan Bank’s digital platform has reached 1.8 million users, representing 55% of the total population, with the ratio of transactions made through digital channels reaching 99%.
In 2023, Khan Bank introduced 100% digital branches in designated locations, with plans to expand its branches across the country.