Loan balances increased by 9.6 percent in 2017

2018-02-14 15:17 GMT+8

Loan balances at Mongolia's commercial banks reached 13.6 trillion MN in 2017, and increased by 9.6 percent compared to 2016.

Non-performing loans made up 8.5 percent of all loans, the highest rate since 2011. Loans granted to companies engaged in waste management and water treatment and supply made up 45.8 percent of all non-performing loans, and companies in the mining sector accounted for 23.5 percent.

Privately-owned businesses received 50.4 percent of loans granted by commercial banks, and 48.9 percent were granted to individual borrowers. Ipotek mortgage loans made up 46.7 percent of all personal loans, 31 percent were salary and pension loans, and 4.9 percent were savings-backed mortgages.

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