Trade Development Bank Of Mongolia:
Trade Development Bank of Mongolia was established as a commercial bank in the year 1990. The bank began functioning from January 1991. The Trade Development Bank of Mongolia is regarded as the biggest and the most profit-earning bank in Mongolia. The services offered by the Trade Development Bank of Mongolia are varied. The Trade Development Bank of Mongolia, also known as TDB, offers prompt and quality service to its customers.
Services offered by TDB or trade development bank of Mongolia:
Services are offered to state institution, customers, and state run enterprises. Services offered by the bank comprise lending, credit card facilities, deposit, services related to trade financing, payments, foreign exchange and others. Transactions pertaining to International banking are taken care of by the trade development bank of Mongolia. Transaction of assets in foreign currency, primarily American dollar or USD, is carried out by the bank. The bank issues credit cards for its customers and also accepts major credit cards of other banks owing to its agent bank status.
Role of Trade development bank of Mongolia in industrial sector:
The most important industries in Mongolia are funded by the Trade Development Bank of Mongolia or TDB. The industrial sectors, which are financed by the TDB, include mining of copper, fluorspar, gold, production of meat, import of petroleum, energy, production of cashmere, export of cashmere, tourism and transportation.
Financial data:
- On 31st December, 2000, total assets of the trade development bank of Mongolia was USD$88.8 million.
- Net interest margin was 13.27% in 1998, 10.36% in 1999, 9.45% in 2000.
- Return on assets was 6.77% in 2000 , 5.18% in 1999 , 3.57% in 1998 .
Revenues earned by the Trade Development Bank of Mongolia come mainly from transactions involving foreign exchange. A secure net interest margin is also responsible for the profits earned by trade development bank of Mongolia.
Accolades won by the trade development bank of Mongolia:
- TDB won the “ Reliable Customers’ Partner” in the year 1997.
- “Reliable Tax Payer” won this award in the year 1999.
- TDB also won “The Best Business Entity” in the year 1999.
