Asset quality review of commercial banks to be released in mid-February

The American Chamber of Commerce in Mongolia

2018-02-09 14:59 GMT+8

First Deputy Governor of the Bank of Mongolia O. Erdembileg said that the results of an asset quality review of commercial banks will be presented to each bank assessed and that the completes reports will be released in mid-February.

After the release of the reports, further action will be discussed. Currently, Mongolia's commercial banks are drafting plans to increase their capital. The banks are also looking for ways to avoid non-performing loans.

A representative of the International Monetary Fund noted that by reducing the number of non-performing loans at commercial banks, balance reporting will improve. As of December 2017, the total capital assets of the nation's commercial banks increased by 13.4 percent over 2016, and reached 28.7 trillion MNT, the highest recorded growth in years.

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