The State bank

The State bank (Mongolian: Төрийн банк, romanized: Töriin Bank) was established by government of Mongolia from the assets of 2 failed banks, Anod Bank and Zoos Bank, of Mongolia in November 24, 2009.[1] It has about 201 to 500 employees.[2] In July 2013, the government of Mongolia combined the 5th-largest bank, Savings Bank, with the State Bank after Savings Bank failed due to a large bad loan to its parent company, Just Group, and previous losses from acquiring Mongol Post Bank, at a cost to the state of $122 million. All 503 branches and 1.7 million customers were transferred to State Bank.[3]

State bank
Төрийн банк
TypeCommercial bank
Location
Region served
Nationwide
Membership
Bank of Mongolia
Websitehttp://www.statebank.mn

Locations
  • Headquarters: Baga toiruu 7/1, 1st khoroo, Chingeltei District, Ulaanbaatar

See also

Notes
  1. "State Bank Description". State Bank. Retrieved 2012-06-19.
  2. "State Bank Description". State Bank. Retrieved 2012-06-19.
  3. https://www.bloomberg.com/news/2013-07-22/mongolia-to-take-over-savings-bank-as-fifth-largest-lender-fails.html
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