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Golomt Bank

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Title: Golomt Bank  
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Subject: Economy of Mongolia, Banking and Finance Academy (Mongolia), List of companies of Mongolia, Sanjaas├╝rengiin Zorig, LGBT history in Mongolia
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Golomt Bank

Golomt Bank is Mongolia's largest privately owned bank.[1] It conducts banking business such as providing current and savings accounts, debit cards, online banking, and other such customer features. It also issues Visa cards in its name. It was founded in 1995.[2]

As of 2012, it has 70 offices: 39 in Ulaanbaatar and 31 in rural provinces.[3] It has 100 ATMs in its network.

Financial position

In 2010, Golomt Bank had:

  • total assets of MNT 1,573.9 billion,
  • customer deposits of MNT 1.317.5 billion,
  • net loans of MNT 784.6 billion,
  • a loans to deposits ratio of 60 per cent.[3]

The mining sector accounted for approximately 20 per cent of the total loan portfolio.[3]


Income tax expense was MNT 6.1 billion, an increase of MNT 2.0 billion in 2010 compared with MNT 4.1billion in 2009.[3]


As of 2011, Golomt has over 1,000 employees, with 30% male and 70% female.[3]

Board of directors

  • D. Bayasgalan (Chairman of Board of Directors)
  • M. Zorig
  • L. Boldkhuyag (Chairman of Risk Management Committee)
  • Mark N. Cutis
  • J. Unenbat
  • Urs E. Schwarzenbach

Bank executives

  • John Finigan (Chief Executive Officer)
  • G.Ganbold (EVP, Retail Banking Group)
  • D.Munkhtur (EVP, Chief Operating Officer)

State Awards

During 2011, 80 employees were awarded State Awards by the President of Mongolia, the Ministry of Finance, the Central Bank, the Mongolian Youth Committee and the Mayor of Ulaanbaatar City.[3]

See also


  1. ^
  2. ^ [1]
  3. ^ a b c d e f

External links

  • Official website

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