Bank of Mongolia: Capital Bank is liquidated

Translator E.Oyun-Erdene

2019-04-09 16:04 GMT+8

By ordinance A-96 dated April 8, 2019 of Bank of Mongolia President based on provisions 19.1 and 28.1.2 of Law of Mongolia on Central Bank (Bank of Mongolia), and provision 68.1 of Law on Bank, resolution of liquidating Capital bank has been issued.  

Related to above ordinance, Deposit Insurance Corporation of Mongolia has made resolution of reimbursement issuance to deposit holders by ordinance #72 dated April 8, 2019 of Deposit Insurance National Committee based on provision 15.1 of Bank Deposit Insurance Law. 

Deposit up to MNT 20 million is insured and protected. According to Bank Deposit Insurance Law, Deposit Insurance Corporation made resolution to disburse reimbursement of deposit and account holders at Capital bank through Khan Bank. 

Capital bank customers are able to receive additional information by calling 11-370-000, directory of Deposit Insurance Corporation between 06.00-24.00. 

As of today, retained loss is MNT 380 billion. Deposit Insurance Corporation will disburse deposit up to MNT 20 million through Khan Bank.

Bank of Mongolia informed that there are 256 million deposit accounts at Capital bank, and 99.5% is insured to Deposit Insurance Corporation. 

MNT 421 billion has been retained in Deposit Insurance Corporation Fund and reimbursement will be made from this.

Shareholders of Capital bank are Bishrelt group /99.97%/ and Chono Finance NBFI /0.03/.

Shareholders of Bishrelt group are A.Ariunbold /50%/ and A.Chinbishrelt /50%/.

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