Financial information

FINANCIAL REPORT /Based on local regulatory/

FINANCIAL REPORT /Based on local regulatory/

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GOLOMT BANK LLC
FINANCIAL STATEMENTS
2019/03/31     (In millions of MNT)
Balance sheet Items  
1. ASSETS
1.1. Cash and cash equivalents           1,082,617
1.2. Deposits with other banks and financial institutions               871,647
1.3 Financial investments               385,927
1.3.1.           Investments in subsidiary                          -  
1.4. Loans and advances to customers (net)           3,107,894
1.4.1.           Performing loans           2,858,420
1.4.2.           Non-performing loans               341,447
1.4.3.           Deferred loan payments                  (9,178)
1.4.4.           Accrued interest receivables               116,953
1.4.5.           Provision for loan impairment              (199,748)
1.5. Derivative financial assets               115,352
1.6. Other financial assets               118,203
1.7. Other non-financial assets                 56,428
1.8. Premises and equipments               120,202
1.9. Investment properties                 37,567
1.10. Assets for sale                 91,428
1.11. Intangible assets                 14,401
  Total assets           6,001,667
2. LIABILITIES
2.1. Current accounts           1,310,532
2.2. Savings           2,875,924
2.3. Due to other banks and financial institutions               870,749
2.4. Other funds               277,697
2.5. Other liabilities               146,657
  Total liabilities           5,481,558
3. EQUITY
3.1. Share capital               108,101
3.2. Share premium               127,629
3.3. Treasury stock                          -  
3.4. Revaluation surplus                   6,962
3.5. Retained earnings               227,141
3.6. Other components of equity                 50,276
  Total equity               520,109
  Total liabilities and equity           6,001,667
 
Off-balance items
Contingencies and commitments (net)               528,012
 
Prudential ratios by the Bank of Mongolia
 
Ratios  Requirement   Actual 
Tier 1 capital ratio > 9% 10.8%
Capital adequacy ratio >14% 14.0%
Liquidity ratio >25% 32.4%
Single foreign currency open position ratio <±15% -3.2%
Total foreign currency open position ratio <±40% -7.4%
 
INCOME STATEMENT
2019/03/31     (In millions of MNT)
Income statement Items  
1. Interest income               152,343
1.1.         Balances with the Bank of Mongolia                   3,985
1.2.         Due from other banks and financial institutions                   4,257
1.3.         Investments in securities                 12,959
1.4.         Loans and advances to customers               122,483
1.5.         Other                   8,658
2. Interest expense                 89,670
2.1.         Customer accounts                   4,876
2.2.         Savings                  68,988
2.3.         Borrowed funds                   9,049
2.4.         Securities                          -  
2.5.         Other                   6,758
3. Net interest income                 62,673
4. Provision expenses                 38,325
5. Net interest income after provision                  24,348
6. Other income                 57,894
6.1.         Non-interest income                 57,718
6.1.1.               Gains from trading in foreign currencies                 45,088
6.1.2.               Gains from foreign currency exchange translation                          -  
6.1.3.               Fees and commission income                 12,630
6.1.4.               Other non-interest income                          -  
6.2.         Other income                       176
7. Other expense                 76,679
7.1.         Non-interest expense                 76,361
7.1.1.               Other provision expense                         90
7.1.2.               Losses from trading in foreign currencies                          -  
7.1.3.               Losses from foreign currency exchange translation                 44,004
7.1.4.               Fees and commission expense                   4,872
7.1.5.               Other operating expense                 27,396
7.2.         Other expense                       318
8. Profit before tax                   5,563
9. Income tax expense                         23
10. Profit after tax                   5,540
11. Other comprehensive income                          -  
12. Total comprehensive income                   5,540
 
LOANS AND OTHER EQUIVALENT ASSETS PROVIDED TO RELATED PARTIES OF THE BANK
2019/03/31     (In millions of MNT)
Related parties Category of assets  Balance   Share to capital 
1. Loans and other equivalent asset provided to a related party (less than 5% of capital)
1.1.            Shareholders of the Bank                              -                              -                              -  
1.2.            Key management personnel                              -                              -                              -  
1.3.            Other related parties  Loan                  20,950 3.7%
2. Total Loans and other equivalent asset provided to related parties (less than 20% of capital)
2.1.            Shareholders of the Bank  Loan                  25,189 4.4%
2.2.            Key management personnel  Loan                     3,438 0.6%
2.3.            Other related parties  Loan, Guarantee                  77,146 13.6%
GOLOMT BANK LLC
FINANCIAL STATEMENTS
2018/06/30     (In millions of MNT)
Balance sheet Items  
1. ASSETS
1.1. Cash and cash equivalents           1,302,358
1.2. Deposits with other banks and financial institutions               334,084
1.3 Financial investments               475,629
1.3.1.           Investments in subsidiary                   1,200
1.4. Loans and advances to customers (net)           2,800,240
1.4.1.           Performing loans           2,572,466
1.4.2.           Non-performing loans               224,324
1.4.3.           Deferred loan payments               (10,289)
1.4.4.           Accrued interest receivables               188,909
1.4.5.           Provision for loan impairment              (175,170)
1.5. Derivative financial assets                 71,407
1.6. Other financial assets               128,204
1.7. Other non-financial assets                 48,251
1.8. Premises and equipments               147,855
1.9. Investment properties                 37,306
1.10. Assets for sale                 31,426
1.11. Intangible assets                 16,308
  Total assets           5,393,068
2. LIABILITIES
2.1. Current accounts           1,196,971
2.2. Savings           2,465,845
2.3. Due to other banks and financial institutions               767,314
2.4. Other funds               334,792
2.5. Other liabilities               144,343
  Total liabilities           4,909,265
3. EQUITY
3.1. Share capital               104,392
3.2. Share premium                 74,338
3.3. Treasury stock                          -  
3.4. Revaluation surplus                   3,962
3.5. Retained earnings               224,618
3.6. Other components of equity                 76,493
  Total equity               483,803
  Total liabilities and equity           5,393,068
 
Off-balance items
Contingencies and commitments (net)               490,308
 
Prudential ratios by the Bank of Mongolia
 
Ratios  Requirement   Actual 
Tier 1 capital ratio > 9% 9.9%
Capital adequacy ratio >14% 14.1%
Liquidity ratio >25% 33.0%
Single foreign currency open position ratio <±15% 9.4%
Total foreign currency open position ratio <±40% 11.2%
 
INCOME STATEMENT
2018/06/30     (In millions of MNT)
Income statement Items  
1. Interest income               294,323
1.1.         Balances with the Bank of Mongolia                   6,054
1.2.         Due from other banks and financial institutions                   3,856
1.3.         Investments in securities                 44,386
1.4.         Loans and advances to customers               234,217
1.5.         Other                   5,810
2. Interest expense               159,151
2.1.         Customer accounts                   8,265
2.2.         Savings                133,998
2.3.         Borrowed funds                 15,771
2.4.         Securities                          -  
2.5.         Other                   1,118
3. Net interest income               135,172
4. Provision expenses                 78,991
5. Net interest income after provision                  56,181
6. Other income                 43,388
6.1.         Non-interest income                 26,997
6.1.1.               Gains from trading in foreign currencies                   4,885
6.1.2.               Gains from foreign currency exchange translation                          -  
6.1.3.               Fees and commission income                 22,112
6.1.4.               Other non-interest income                          -  
6.2.         Other income                 16,391
7. Other expense                 74,339
7.1.         Non-interest expense                 71,562
7.1.1.               Other provision expense                   7,124
7.1.2.               Losses from trading in foreign currencies                          -  
7.1.3.               Losses from foreign currency exchange translation                 12,822
7.1.4.               Fees and commission expense                   7,244
7.1.5.               Other operating expense                 44,372
7.2.         Other expense                   2,777
8. Profit before tax                 25,230
9. Income tax expense                   4,258
10. Profit after tax                 20,972
 
LOANS AND OTHER EQUIVALENT ASSETS PROVIDED TO RELATED PARTIES OF THE BANK
2018/06/30     (In millions of MNT)
Related parties Category of assets  Balance   Share to capital 
1. Loans and other equivalent asset provided to a related party (less than 5% of capital)
1.1.            Shareholders of the Bank                              -                              -                              -  
1.2.            Key management personnel                              -                              -                              -  
1.3.            Other related parties  Loan                  20,889 3.6%
2. Total Loans and other equivalent asset provided to related parties (less than 20% of capital)
1.1.            Shareholders of the Bank  Loan                        756 0.1%
1.2.            Key management personnel  Loan                     1,190 0.2%
1.3.            Other related parties  Loan, Guarantee                  81,066 13.9%
         
         
As of half year of 2018, Golomt Bank:      
         
- Current shareholders increased Golomt Bank's Tier 1 capital by 80 bln MNT
- The result of AQR have been reflected in the financial statements.    
FINANCIAL STATEMENTS
2017/06/30     (In millions of MNT)
Balance sheet Items  
1. ASSETS
1.1. Cash and cash equivalents                1,412,774
1.2. Deposits with other banks and financial institutions                      58,857
1.3 Financial investments                    580,601
1.3.1.           Investments in subsidiary                        1,200
1.4. Loans and advances to customers (net)                2,082,995
1.4.1.           Performing loans                1,911,252
1.4.2.           Non-performing loans                    178,670
1.4.3.           Deferred loan payments                       (6,171)
1.4.4.           Accrued interest receivables                      82,282
1.4.5.           Provision for loan impairment                     (83,037)
1.5. Derivative financial assets                      79,954
1.6. Other financial assets                      93,405
1.7. Other non-financial assets                      64,348
1.8. Premises and equipments                    195,238
1.9. Investment properties                      63,312
1.10. Assets for sale                        9,861
1.11. Intangible assets                      15,561
  Total assets                4,656,906
2. LIABILITIES
2.1. Current accounts                    805,360
2.2. Savings                2,072,418
2.3. Due to other banks and financial institutions                    758,671
2.4. Other funds                    469,144
2.5. Other liabilities                    163,493
  Total liabilities                4,269,087
3. EQUITY
3.1. Share capital                      52,146
3.2. Share premium                      46,584
3.3. Treasury stock                               -  
3.4. Revaluation surplus                      30,004
3.5. Retained earnings                    241,079
3.6. Other components of equity                      18,006
  Total equity                    387,819
  Total liabilities and equity                4,656,906
 
Off-balance items
Contingencies and commitments (net)                    438,470
 
Prudential ratios by the Bank of Mongolia
 
Ratios  Requirement   Actual 
Tier 1 capital ratio > 9% 9.7%
Capital adequacy ratio >14% 14.5%
Liquidity ratio >25% 41.5%
Single foreign currency open position ratio <±15% -13.7%
Total foreign currency open position ratio <±40% -22.3%
 
INCOME STATEMENT
2017/06/30     (In millions of MNT)
Income statement Items  
1. Interest income                    195,063
1.1.         Balances with the Bank of Mongolia                        6,119
1.2.         Due from other banks and financial institutions                            969
1.3.         Investments in securities                      49,510
1.4.         Loans and advances to customers                    134,979
1.5.         Other                        3,486
2. Interest expense                    135,101
2.1.         Customer accounts                        5,913
2.2.         Savings                     106,389
2.3.         Borrowed funds                      22,798
2.4.         Securities                               -  
2.5.         Other                               -  
3. Net interest income                      59,962
4. Provision expenses                      14,740
5. Net interest income after provision                       45,222
6. Other income                      63,789
6.1.         Non-interest income                      61,323
6.1.1.               Gains from trading in foreign currencies                      43,667
6.1.2.               Gains from foreign currency exchange translation                               -  
6.1.3.               Fees and commission income                      16,379
6.1.4.               Other non-interest income                        1,277
6.2.         Other income                        2,465
7. Other expense                    108,370
7.1.         Non-interest expense                    108,101
7.1.1.               Other provision expense                        1,067
7.1.2.               Losses from trading in foreign currencies                               -  
7.1.3.               Losses from foreign currency exchange translation                      64,873
7.1.4.               Fees and commission expense                        5,160
7.1.5.               Other operating expense                      37,001
7.2.         Other expense                            269
8. Profit before tax                            640
9. Income tax expense                               -  
10. Profit after tax                            640
11. Other comprehensive income                            246
12. Total comprehensive income                            886
 
LOANS AND OTHER EQUIVALENT ASSETS PROVIDED TO RELATED PARTIES OF THE BANK
2017/06/30     (In millions of MNT)
Related parties Category of assets  Balance   Share to capital 
1. Loans and other equivalent asset provided to a related party (less than 5% of capital)
1.1.            Shareholders of the Bank                              -                                 -                                 -  
1.2.            Key management personnel                              -                                 -                                 -  
1.3.            Other related parties  Loan                       19,925 4.2%
2. Total Loans and other equivalent asset provided to related parties (less than 20% of capital)
1.1.            Shareholders of the Bank  Loan, Guarantee                         4,721 1.0%
1.2.            Key management personnel  Loan, Guarantee                             847 0.2%
1.3.            Other related parties  Loan, Guarantee                       85,465 18.2%

FINANCIAL STATEMENTS

2016.12.31 /In millions of MNT/

Balance sheet items

 

1. ASSETS
1.1. Cash and cash equivalents 1,120,284
1.2. Deposits with other banks and financial institutions 497,906
1.3. Financial investments 501,437
1.3.1.      Investments in subsidiary 1,200
1.4. Loans and advances to customers (net) 2,034,860
1.4.1.      Performing loans 1,902,342
1.4.2.      Non-performing loans 170,883
1.4.3.      Deferred loan payments (5,168)
1.4.4.      Accrued interest receivables 57,519
1.4.5.      Provision for loan impairment (90,716)
1.5. Derivative financial assets 177,022
1.6. Other financial assets 61,234
1.7. Other non-financial assets 11,909
1.8. Premises and equipments 171,009
1.9. Investment properties 51,291
1.10. Assets for sale 17,444
1.11. Intangible assets 13,947
  Total assets 4,658,343
2. LIABILITIES
2.1. Current accounts 757,097
2.2. Savings 2,012,797
2.3. Due to other banks and financial institutions 1,198,611
2.4. Other funds 190,011
2.5. Other liabilities 133,253
  Total liabilities 4,291,770
3. EQUITY
3.1. Share capital 52,146
3.2. Share premium 46,584
3.3. Treasury stock -
3.4. Revaluation surplus 9,645
3.5. Retained earnings 240,439
3.6. Other components of equity 17,760
  Total equity 366,573
  Total liabilities and equity 4,658,343
Off-balance items
Contingencies and commitments (net)

271,310

PRUDENTIAL RATIOS BY THE BANK OF MONGOLIA

Ratios

Requirements

Actual

Tier 1 capital ratio >9% 10.19%
Capital adequacy ratio >14% 14.77%
Liquidity ratio >25% 44.80%
Single foreign currency open position ratio <+-15% -6.60%
Total foreign currency open position ratio <+-40% -13.10%

INCOME STATEMENT

Income statement items

 

1. Interest income 331,900
1.1.      Balances with the Bank of Mongolia 9,388
1.2.      Due from other banks and financial institutions 865
1.3.      Investments in securities 59,965
1.4.      Loans and advances to customers 253,283
1.5.      Other 8,399
2. Interest expense 246,416
2.1.      Customer accounts 13,354
2.2.      Savings 188,251
2.3.      Borrowed funds 44,811
2.4.      Securities -
2.5.      Other 0
3. Net interest income 85,484
4. Provision expenses 51,904
5. Net interest income after provision 33,580
6. Other income 70,809
6.1.      Non-interest income 69,272
6.1.1.         Gains from trading in foreign currencies 15,125
6.1.2.         Gains from foreign currency exchange translation 26,004
6.1.3.         Fees and commission income 27,982
6.1.4.         Other non-interest income 162
6.2.      Other income 1,536
7. Other expense 91,643
7.1.      Non-interest expense 90,847
7.1.1.         Other provision expense 6,783
7.1.2.         Losses from trading in foreign currencies -
7.1.3.         Losses from foreign currency exchange translation -
7.1.4.         Fees and commission expense 7,609
7.1.5.         Other operating expense 76,455
7.2.      Other expense 796
8. Profit before tax 12,746
9. Income tax expense 7,473
10. Profit after tax 5,274
11. Other comprehensive income 2,978
12. Total comprehensice income 8,251

LOANS AND OTHER EQUIVALENT ASSETS PROVIDED TO RELATED PARTIES OF THE BANK

Related parties Category of assets Balance Share to capital
1. Loans and other equivalent asset provided to a related party (less than 5% of capital)
1.1. Shareholders of the Bank - - -
1.2. Key management personnel - - -
1.3. Other related parties Loan 20,544 4.50%
2. Total Loans and other equivalent asset provided to related parties (less than 20% of capital)
2.1. Shareholders of the Bank Loan, Guarantee 8,019 1.80%
2.2. Key management personnel Loan, Guarantee 1,073 0.20%
2.3. Other related parties Loan, Guarantee 66,319 14.60%