The State bank explained

State bank
Mongolian: Төрийн банк
Type:Commercial bank
Location:Ulaanbaatar city
Region Served:Nationwide
Membership:Bank of Mongolia
Website:http://www.statebank.mn

The State bank (Mongolian: Төрийн банк|translit=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]

Locations

See also

External links

Notes and References

  1. Web site: State Bank Description. State Bank. 2012-06-19.
  2. Web site: State Bank Description. State Bank. 2012-06-19.
  3. News: Mongolia to Take over Savings Bank as Fifth-Largest Lender Fails . Bloomberg.com . 22 July 2013 .