visimoney
TLDR:
– The volume of net external assets of the Mongolian banking sector reached $2.613 billion by the end of December 2023, a 3.6 times increase from the previous year.
– The volume of net domestic assets of Mongolia’s banks amounted to $8.426 billion, a 5.6% increase compared to the previous year.
– The total volume of savings in Mongolian commercial banks reached $5.020 billion by the end of December, with a 35.7% increase in Tugrik savings and a 1.8% increase in dollar savings.
– There are 1,500 branches of 11 commercial banks operating in Mongolia.
The National Statistics Office of Mongolia has reported that the net external assets of the Mongolian banking sector reached $2.613 billion by the end of December 2023. This figure represents a significant increase of 3.6 times compared to the previous year. Additionally, the net domestic assets of Mongolia’s banks amounted to $8.426 billion, showcasing a 5.6% increase from the previous year.
In terms of savings, the total volume of savings in Mongolian commercial banks reached $5.020 billion by the end of December. There was a notable increase in Tugrik savings, which rose by 35.7%, while dollar savings experienced a more modest increase of 1.8%.
The Mongolian banking sector consists of 11 commercial banks, operating through a network of 1,500 branches throughout the country.
Overall, these figures demonstrate the growing strength and stability of the Mongolian banking sector. The significant increase in net external assets indicates confidence in the sector’s ability to attract and manage foreign assets. Additionally, the rise in domestic assets and savings highlights a positive trend in the local economy, reflecting an increase in overall financial stability and prosperity.
