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Awards for Excellence 2009: Mongolia

Best Bank: Khan Bank

Mongolia’s banks had a decent year, with leading firms such as Golomt Bank and Trade Development Bank of Mongolia demonstrating steady growth. The latter firm is Khan Bank’s closest rival for the title of best bank, but Khan Bank once again had the strongest performance with its return on equity of 31% and return on assets of 2.9% both the highest among its peers. The bank has continued its strategy of building a sound deposit base, with core deposits up $144.3 million (37%) to $535.9 million. Khan Bank also managed to improve its already sound capital adequacy ratio of 11.4% to 12.4%. As well as growing its core deposits, the firm has begun to spread its wings with the announcement of international partnerships.