Mongolbank reveals banks’ ownership details

With none of the 14 commercial banks posting on their
website all the information they are legally bound to reveal publicly, the
Mongolbank has now published all relevant details about their capital base, shareholding
pattern, internal administrative structure, amount and status of loans, assets
and liabilities etc. The banks were expected to go public with the information
by July 1 and when they failed to do so the deadline was extended to August 31.
When this, too, did not lead to full disclosure, the central bank stepped in
and provided the details from its own records. The errant banks are likely to
be fined around MNT50 million each for their failure to observe the law.

Of the 14 banks operating in the country, the State Bank is
State-owned; and three, Chinggis Khaan Bank, Saving Bank, and Credit Bank are 100%
foreign-owned; Trade and Development Bank, Khan Bank, National Investment Bank,
and Transportation Development Bank have mixed foreign and domestic
shareholding; and Golomt Bank, Capital Bank, Capitron Bank, Ulaanbaatar City
Bank, Erel Bank, and XasBank are 100% owned by Mongolians.

The total equity of all these banks is MNT252.1 billion.
Saving Bank has the largest capital base of MNT60 billion, while Ulaanbaatar
Bnk, Erel Bank, and Transportation Development Bank all have MNT8 billion, the
minimum capital permitted by the Mongolbank.

Ownership of banks as revealed by
Mongolbank.

Sl.No.	Name of the bank	Equity fund amount	Principal share holders
1	Saving Bank	MNT60 billion	Emdi securities LLC (Just group)
2	Chinggis Khaan Bank	MNT39.3 billion	Millennium Securities Managements Ltd 50%,Coral Sea Holding Group 50%
3	State Bank	MNT28 billion	The Finance Ministry
4	Golomt Bank	MNT21.9 billion	Bodi International Ltd
5	Credit Bank	MNT14.1 billion	Basic Element Finance Limited Company (Cyprus), 100%
6	Trade and Development Bank	MNT14 billion	Global Investment and Development SCA Consortium 65.8%, T.Tsolmon 10.4%, Treasury stock 9.5%,US Global 6.4%,J.Battur 5.7%, 58 individuals own 2.2%.
7	Xac Bank	MNT13.3 billion	Tenger Financial unit 99.9%, and 4 individuals own the remaining 0.1%.
8	Khan Bank	MNT12.9 billion	Savada Holding Co.Ltd 40.2%, Tavan Bogd Trade LLC 35.3%, HS International (Asia) 12.8%, IFC 9.1%, DAI 1.8%, Mongolian Holding Limited Partnership 0.7%, Morrow Family Trust 0.2%.
9	National Investment Bank	MNT8.4 billion	D.Dagvadorj 55.6%,UB Diversified Ltd 22.2%,Firebird Global Master Fund Ltd 18.5%, Firebird Aurora Fund Ltd 3.8%.
10	Capital Bank	MNT8.1 billion	Bishrelt Holding LLC 99.9%, Tavan Bogd LLC 0.1%.
11	Capitron Bank	MNT8 billion	B.Medree 49.0%, P.Munkhsaikhan 46.3%, Trade and Development Bank 4.6%.
12	Erel Bank	MNT8 billion	B.Erdenebat 100%
13	Transportation Development Bank	MNT8 billion	Infrastructure 51%, D.Batkhuu 38.8%, D.Enkhtaivan 8.7%, D.Enkhtuya 1.6%.
14	Ulaanbaatar Bank	MNT8 billion	D.Erdenebileg79.9%, Ulaanbaatar Fund 20.0%, D.Batjargal 0.01%.
	Total	MNT252.1 billion