Location: Ulaanbaatar, Mongolia
Region: East Asia
Neighboring Countries: Russia, China
Population: 2,951,786
GDP Per Capita (PPP): $2,100 (2006 est.)
Politics: Presidential representative democratic republic
Economy:
- GDP Growth: 7.5% (2007 est.)
- Composition of GDP: Agriculture (21.7%), Services (50.4%) and Industrial Sectors (27.9%)
- Main Agricultural Products: Wheat, barley, vegetables, forage crops, sheep, goats, cattle, camels, and horses
- Main Industries: Construction and construction materials, mining (coal, copper, molybdenum, fluorspar, tin, tungsten, and gold), oil, food and beverages, processing of animal products, cashmere and natural fiber manufacturing
- Significant Trading Partners: United States, Japan, Russia, China, Canada, and South Korea
Source: Wikipedia
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Client Banks / XacBank, Mongolia
XacBank, Mongolia
Website: http://www.xacbank.org/
Bank Description:
XacBank (Xac) is a microfinance institution and community development bank that was formed in December 2001. Its aim is to contribute to the socio-economic development of the country by providing access to comprehensive financial services to all citizens and legal entities, including those who are normally excluded (e.g. low-income and remote rural households).
XacBank offers a full range of products and services through its network of 65 branches including current accounts, savings, loans, credit cards, money transfer services, and mobile banking. In 2006, the bank launched several new initiatives including financial leasing for renewable energy technologies, expansion of franchisee financing, enhancements to the mobile banking service, and IT-based mobile banking services.
Main Shorecap Exchange Capacity Building Support Areas:
• Governance
• Risk management
• Human resource strengthening
• Leadership training
• Small business lending
Key Accomplishments in Partnership with Exchange:
• Leadership development
• Middle management strengthening
• Development of performance measurement systems
|
Financial Performance |
2005/2006 |
2006/2007 |
|
Net Loans Outstanding (in mil) |
$31.2 |
$51.3 |
|
Total Deposits (in mil) |
$25.3 |
$36.5 |
|
Return on Average Assets |
3.3% |
2.4% |
|
No. of Borrowers |
50,101 |
56,744 |
|
No. of Depositors |
N/A |
N/A |
|
No. of Branches |
55 |
65 |
|
No. of Employees |
|
|
|
No. Development Loans |
617 |
741 |
|
- Year to Date |
85,132 |
101,246 |
|
- Cumulative |
223,547 |
324,793 |
|
Fx Rate (MNT/$): |
1,221 |
1,165 |
N/A - Not Applicable
NA - Not Available
