The volume of cash in circulation in Mongolia grew by 5.7% by the end of December 2023 compared to the previous year, the National Statistics Office announced on Thursday.

The total assets of the banking sector of Mongolia amounted to 28.7 trillion tugriks ($8.42 billion). This figure increased by 5.6% compared to last year.

The volume of low-quality loans throughout the Mongolian banking system increased by 0.6%, the experts of the Central Bank note.

Today, about 1,500 branches of 11 commercial banks operate in Mongolia.