There are 13 commercial banks comprising 95% of overall financial market and are regulated by Bank of Mongolia. As of 2018 year-end, total banking assets were MNT 33.1 trillion (USD 12.5 billion) which was 15% increase from the same period last year.
The banking sector has been constantly growing in the last decade, indicating a developing financial culture of the population. 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.
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). As a result, customer deposits comprised 79% of the total liabilities (Increase of 7% from the previous year’s 72%).
Asset Structure (in percentage)
Liabilities Structure (in percentage)
Assets (in billion MNT)
Customer Assets (in billion MNT)
Golomt Financial Group
Golomt Financial Group is one of the largest and leading financial groups in Mongolia with over 1900 employees. It incorporates the nation’s leading financial institutions, Golomt bank, Golomt Securities, and Mandal General Insurance. We are committed to deliver world-class financial products and services to corporations, small and medium sized enterprises and individuals both at home and abroad. Read more
Funding and Financial Markets Department
Tel: +976-7011 1646 (1383, 1405)