About bank

About bank

Brief introduction about Golomt bank
In 2018, we demonstrated our ability to navigate and thrive in a complex business environment which included eventful macroeconomic changes, fierce competition and stricter banking sector regulations.
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History and highlights
Golomt bank of Mongolia was established on March 6 1995 as a wholly owned subsidiary of Bodi International L.L.C.
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Shareholders
Golomt Financial Group LLC - 77.7%
Bodi International LLC - 9.06%
SWISS MO INVESTMENT AG - 8.14%
Golomt Investment Limited - 4.02%
Fortunate Golomt - ESOP - 1.08%
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Achievements and awards
Golomt Bank’s accomplishments, culture, and loyalty have secured its position as a well-recognized brand in the home market.
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Corporate Social Responsibility
At all levels within Golomt Bank, we appreciate that our responsible approach to business is a decisive element determining the long-term success of the Bank. We therefore strive to provide substantial financial and material support to community initiatives focusing upon the key areas of health, education, the environment, arts and culture, sports, social development and economic affairs.

The following constitute examples of some of these leading initiatives
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Board of Directors
Our Board is a well balanced representation of the Shareholders as half of the Board of Directors are Independent Members with one nominee from shareholders under the Employee Stock Ownership Program (ESOP).
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Executive Management Team
Our top management team consists of 5 seasoned professionals with substantial local and international industry experience. They are responsible for the day-to-day management of their respective divisions, each of whom reports regularly to the CEO and board members.
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Organizational structure
We renewed our organizational structure in 2019.
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Corporate governance structure
The diverse composition of the Board of Directors allow unbiased decision to be made while ensuring all stakeholders’ interests are addressed.
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Compliance
1. Anti-Bribery Policy Statement
2. Resolving potential conflict of interest policy statement
3. Anti fraud policy statement
4. Whistleblowing policy statement
5. AML/CFT policy statement
6. Wolfsberg questionnaire statement
7. FATCA
8. Patriot Act
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TARGET REDUCTION OF NON-PERFORMING ASSETS
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Financial information
In 2018, we successfully grew our assets by 17%, reaching (MNT 6,081 billion), which was an increase of MNT 876 billion and deposits by 27% (MNT 949 billion).
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Annual report
Golomt bank is aiming to be the catalyst of global level financial service provider and partner not only to our customers but also to our domestic and international partners.
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Quarterly Financial report
Our total assets grew by 18% with 15% net loan growth in 2019Q2 while total equity has increased by 17% and retained earnings has increased by 19%.
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Audited financial report
PwC has been conducting independent auditing on Golomt bank since 2015 in accordance with International Standards on Auditing (ISAs).
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