Best bank 2025: Khan Bank JSC
Khan Bank has cemented its market leadership through expansive national reach, cutting-edge digital innovation and a strong commitment to sustainable growth.
With outlets reaching 82% of Mongolian households, the bank processed 99.5% of all transactions digitally and handled 75% of consumer loans.
In a key recent development, the lender launched a generative AI chatbot that has cut direct agent-customer interactions by 36%.
Khan Bank has also introduced innovative products such as digital mortgage loans, salary-based credit cards, and a point-of-sale app for contactless payments.
To improve efficiency in its branch network, the lender rolled out self-service branches in Ulaanbaatar to further enhance customer autonomy.
In sustainable finance, Khan Bank issued Mongolia’s first international social bond to fund vital projects in health and education.
Best digital bank 2025: Khan Bank JSC
Khan Bank delivered a more accessible, secure and customer-focused banking experience propelled by its integrated digital strategy and expansive service network.
The bank completed 520 digital projects last year, clustered around its digital mortgage loans, salary-based credit cards, and AI-driven services. These improvements contributed to digital adoption – 99.5% of transactions and 75% of consumer loans were processed digitally.
One of the bank’s most impactful highlights was the rapid adoption of the bank’s e-wallet service, which gained 227,490 users within six months. The launch of the OCH Internet Banking application and the Ameyo platforms were also noteworthy. These tools streamlined operations and improved customer interactions, notably through the Digi chatbot, providing instant support and financial education.
Additionally, Khan Bank has expanded its digital ecosystem through strategic partnerships with international players such as Alipay and Hana Bank, facilitating secure and convenient cross-border transactions.
Khan Bank allocated Tug136 billion ($38.5 million) towards digital transformation, aimed at driving financial inclusion through specialised loans and digital literacy programmes.
Best bank for large corporates 2025: Trade and Development Bank of Mongolia (TDB)
The Trade and Development Bank of Mongolia (TDB) has demonstrated strong performance across its core businesses and strategic initiatives over the review period.
The lender reported a net profit of Tug 298.6 billion ($83 million), up from Tug151.2 billion in 2023, while total assets rose to Tug15 trillion, underscoring its effective growth strategy. Its robust risk and capital management was evidenced by a core capital adequacy ratio of 14.8% and a liquidity ratio of 49.5%, ensuring financial resilience.
In capital markets, TDB became the first Mongolian private entity to issue social and green bonds on the Vienna Stock Exchange, strengthening its international credibility. Moody’s upgraded its credit rating from B3 to B2 with a stable outlook, reflecting enhanced financial strength and governance.
TDB’s partnerships were a testament to its international reach. A notable example was its landmark long-term financing agreement with the US International Development Finance Corporation – a first for any Mongolian bank.
The bank continued to press ahead with new digital innovations, including most prominently launching an integration with Apple Pay and the introducing of DeHUB, a digital B2B platform designed to enhance the customer experience.
TDB’s commitment to sustainability was reflected in its recently expanded sustainable finance framework and active participation in green financing initiatives.
Best bank for SMEs 2025: Golomt Bank
Golomt Bank has strengthened its support for Mongolia’s small and medium-sized enterprises through a focused strategy of growth, innovation and sector-specific services.
Over the review period, its SME loan portfolio expanded 43% to Tug1.77 trillion ($493 million). At the same time, credit quality improved markedly: its NPL ratio fell from 14.42% to 3.84%, while the past due loan ratio dropped from 13.77% to 1.89%.
The bank also grew its SME client base to 96,005 enterprises, adding 5,999 new borrowers in 2024 (7.6% of its total clientele). It rolled out sector-tailored products, such as the Digital Loan Secured by POS and specialised financing for tourism, airlines and agriculture.
On the digital front, more than 20,000 SMEs now use the bank’s e-banking channel. Apple Pay, WeChat and Alipay support were rolled out on the platform to facilitate imports from China.
Strengthened by mentorship programmes and procurement policies favouring women-owned firms, the bank’s integrated approach was a distinguishing feature. Its Women Entrepreneurs Loans programme, for example, saw ninefold growth over the research period.
