Khan Bank has been named the best commercial bank in the country in 2009. This is the sixth time the bank has featured among the best 5 banks annually chosen jointly by the Government and the National Chamber of Commerce and Industry, after assessing their contribution to the national economy. Also considered were the banks’ financial performance and the products and services they offered.
Khan Bank’s liquidity ratio increased from 21.8% in 2008 to 42.5% in 2009 while equity adequacy rose from 12.7% in 2008 to 19.3% in 2009, much higher than the 12% considered prudent by the Central Bank. Khan Bank’s total deposit increased by 28% over 2008 and it became the first Mongolian bank to have MNT1 trillion in total assets.
Khan Bank was also honored for “Excellence in Corporate Social Responsibility”, an award it has won earlier, too. It spent over MNT768 million on programs on education, arts and culture, and rural and economic development in 2009.
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