Mongol Post and the Savings banks to merge

Major shareholders of the Mongol Post and the Savings Bank announced about merger of the two banks this afternoon. The decision was made public at press conference held at the Mongolian Press Institute attended by Damdinjav, Board member the Savings Bank and Khurelbaatar, executive director of the Savings Bank and Orgodol, Board chairman of the Mongol Post Bank and Oyunjargal, executive Director of the Mongol Post Bank and Badamtsetseg, Finance director of the "Just Group" company.

Both banks are mid size private banks. The Savings bank was purchased by Mongol Daatgal (Mongol Insurance) consortium of Russian owned Chinggis-Khan investment bank and Bratsk Savings Bank of Russia during open bidding held in late 2006. In April, 2009, "Just Group" Mongolian conglomerate with diverse interests in fields ranging from construction to sale of petroleum products, meat processing and export, purchased it from the Russian owners.

Mongol Post Bank is a Mongolian bank majority owned by Zorigt, legislator of the Mongolian democratic party and his family.

Through the merger, the banks would have consolidated capital amount of 48.2 billion tugrig, 132300 deposit holders, 287300 customers, 76850 borrowers and 324 branches and 1982 employees. Name for the new bank is not yet given as shareholders meeting of the banks will have to approve the merger formally on Oct 14, 2009.

By Ganbat, reporter of MonInfo News Service


Post a Comment

Facebook page

Powered by Blogger.


Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Israel Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Kyrgyzstan Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and US Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive