Bank as­sets to­tal 30.5 trillion MNT

The UB Post - - Front Page - By B.DULGUUN

Khan, Trade and Devel­op­ment Bank (TDB) and Golomt banks were top per­form­ing banks in the third quar­ter of 2018, re­vealed a new re­port.

The “Bank­ing Com­pe­ti­tion Re­view for the Third Quar­ter of 2018”, re­leased on Thurs­day by the Eco­nomic Pol­icy and Com­pet­i­tive­ness Re­search Cen­ter, com­pared as­sets, loans, cur­rent and de­posit ac­counts, and profit of 14 com­mer­cial banks op­er­at­ing in Mon­go­lia, ex­clud­ing Cap­i­tal Bank...

Khan, Trade and Devel­op­ment Bank (TDB) and Golomt banks were top per­form­ing banks in the third quar­ter of 2018, re­vealed a new re­port.

The “Bank­ing Com­pe­ti­tion Re­view for the Third Quar­ter of 2018”, re­leased on Thurs­day by the Eco­nomic Pol­icy and Com­pet­i­tive­ness Re­search Cen­ter, com­pared as­sets, loans, cur­rent and de­posit ac­counts, and profit of 14 com­mer­cial banks op­er­at­ing in Mon­go­lia, ex­clud­ing Cap­i­tal Bank. Their to­tal as­sets amounted to 30.5 trillion MNT in the third quar­ter this year.

Banks were clas­si­fied as Top-3, medium-3 and small banks, de­pend­ing on their to­tal amount of as­sets. The Top 3 banks were Khan, TDB and Golomt, ac­count­ing for al­most 70 per­cent of to­tal as­sets of banks. Medium banks – Khas, State Bank and Ulaan­baatar City Bank – ac­counted for 23.7 per­cent, fol­lowed by small banks which made up less than seven per­cent of to­tal bank as­sets.

The re­view re­ported a to­tal of 15.1 trillion MNT loans in the third quar­ter, up by 800 bil­lion MNT since the pre­vi­ous quar­ter. Top-3, Medium-3 and small banks in­creased their to­tal loans by 18.1 per­cent, 20.4 per­cent and 46 per­cent re­spec­tively com­pared to the same pe­riod of last year.

Over­all, the to­tal loans of com­mer­cial banks saw a 20.2 per­cent surge over the past year.

To­tal cur­rent and de­posit ac­counts of the 13 com­mer­cial banks reached 18.1 trillion MNT. Top-3, medium-3 and small banks ac­counted for 68.3 per­cent, 26.1 per­cent and 5.6 per­cent of to­tal cur­rent and de­posit ac­counts re­spec­tively. The to­tal cur­rent and de­posit ac­counts of com­mer­cial banks in­creased by 27.7 per­cent since the third quar­ter of 2017.

How­ever, com­mer­cial banks had earned 51.8 bil­lion MNT lower profit in the third quar­ter of 2018 com­pared to the same pe­riod of last year. The lat­est net profit of banks reached 190.1 bil­lion MNT af­ter tax, ac­cord­ing to the re­port.

Although the Top-3 banks man­aged to in­crease their profit by 11 per­cent, or 22 bil­lion MNT, in the last 12 months, it was not enough to off­set the al­most 40 bil­lion MNT loss of medium and small banks.

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