Corporate loans increase by more than 500 billion MNT

The American Chamber of Commerce in Mongolia

2018-06-26 14:33 GMT+8

Corporate loans issued by commercial banks have seen an increase by 7 percent, reaching 7.434 trillion MNT in May, from the beginning of 2018.

The figure represents a growth of approximately 300 billion MNT month-over-month and 500 billion MNT quarter-over-quarter. The Bank of Mongolia has adopted a policy to extend corporate loans.

The Monetary Policy Committee of the Bank of Mongolia has taken measures to limit the volume of increasing consumer loans by setting a debt/income ratio at 70 percent. Members of the Committee announced their intention that the decision will streamline the flow of money toward businesses.  ​

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