B. Medree, its Executive
Director, has been with Trade and Development Bank for all the 20 years of its life as the first commercial bank in
Mongolia in the real sense of the term. He has recalled in an interview how the initial capital of the bank was just MNT50 million and how this has
now grown to over MNT80 billion. Several banks were established when Mongolia came out of the socialist system in 1990, of
which only the TDB survives.

Medree has led the bank all
these years, and thinks the TDB’s success in the face of great odds is due to
its ability to face the reality of circumstances, however unpleasant it might
have looked, its determination to find a way out and then proceed on that path
unitedly. Hard work also contributed to the growth.

He feels competent management and proper governance have
been possible as the bank has always valued the worth of its human resource.
“We sought out bright students in banking and finance, took them in for
internship, watched their performance and then offered jobs to the best among
them, to continuously add fresh energy and strength to our existing and
experienced team,” he said. The bank was pioneer by accident but became a
leader by choice, introducing appropriate products and technology, and placing
customers’ interests first whenever some change was considered.

A bank’s success depends on its
customers being good, and the TDB has always followed the principle that they
develop together. Loans were once limited to USD200,000 but now a reliable
customer with a viable project can get credit up to USD20 million. The TDB has
so far disbursed a total of MNT3.6 trillion in loans, and has paid MNT65.4
billion in taxes and to the social insurance fund.