Bank of Mongolia reports on the banking sector's performance

The American Chamber of Commerce in Mongolia

2018-07-27 15:51 GMT+8

On July 26, the Bank of Mongolia (BoM) reported on key economic and banking sector performance data. Director of the Supervision Department of the BoM N.Batsaikhan stated, “Since May, four commercial banks have increased their equity by a total of 128.7 billion MNT, when the BoM instructed commercial banks to do so.”

In June, new mortgage loans equaled 82 billion MNT, bringing outstanding mortgage loans to 4.3 trillion MNT. There have been frequent complaints from consumers that commercial banks have not been issuing mortgage loans. The BoM reported that it is planning to carry out an inspection of mortgage loan procedures at commercial banks after the banks have finalized the improvement of their asset qualities.

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