The State bank (Mongolian: Төрийн банк, romanizedTöriin 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

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

See also

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Notes

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  1. ^ "State Bank Description". State Bank. Retrieved 2012-06-19.
  2. ^ "State Bank Description". State Bank. Retrieved 2012-06-19.
  3. ^ "Mongolia to Take over Savings Bank as Fifth-Largest Lender Fails". Bloomberg.com. 22 July 2013.
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