Bogd Bank
Commercial bank
A Mongolian commercial bank established in 2014. It became the first publicly listed bank on the Mongolian Stock Exchange in December 2021, and it provides financial products with a strong focus on lending to small and medium-sized enterprises (FMO, project detail for Bogd Bank JSC; Asian Development Bank, 28 June 2024).
The Asian Development Bank reported in June 2024 that the bank operated 16 branches nationwide, employed 230 people and had provided financial support to nearly 12,500 borrowers, with lending to micro, small and medium-sized enterprises accounting for more than half of its portfolio (Asian Development Bank, 28 June 2024). FMO later described the bank as employing over 240 people and operating through 17 branches, predominantly in Ulaanbaatar (FMO, project detail for Bogd Bank JSC).
PEOPLE
Saruul Ganbaatar
Chief executive officer - named and quoted as chief executive officer in the Asian Development Bank release of 28 June 2024, and listed as Board Member / Chief Executive Officer in the bank's Sustainability Report 2024 and 2025 Half-Year Sustainability Report, which note he previously served as Deputy CEO of the Mongolian Stock Exchange (ADB, 28 June 2024; Bogd Bank Sustainability Reports 2024 and 2025)
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Boldkhuyag L.
Chairman of the Board of Directors - named as Chairman in the bank's Sustainability Report 2024 and 2025 Half-Year Sustainability Report, which describe him as a co-founder of Bodi Corporation with over 25 years of experience in the Mongolian financial market (Bogd Bank Sustainability Reports 2024 and 2025)
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MONEY
The 2021 IPO - DOCUMENTED
During its IPO in 2021 the bank raised MNT 31.8 billion, selling a 20 percent stake to the public at MNT 2,540 per share (Inside Mongolia, 21 November 2022, citing Mongolian Stock Exchange data).
ADB loan for women-led MSMEs and green finance - DOCUMENTED
On 28 June 2024 the Asian Development Bank and Bogd Bank signed a US$15 million loan for micro, small and medium-sized enterprises, with a strong focus on women-led MSMEs and green finance. The package comprised US$14 million from ADB, half earmarked for MSMEs led or owned by women, and US$1 million from the Canadian Climate Fund for the Private Sector in Asia II for climate finance including energy-efficient equipment and small-scale renewable energy (Asian Development Bank, 28 June 2024).
FMO senior loan facility - DOCUMENTED
FMO describes a senior loan facility of US$20 million for a tenor of five years, with at least 30 percent to support the bank's green initiatives and the remaining 70 percent dedicated to sub-loans to underserved SMEs such as women-owned, youth-owned and agribusiness SMEs (FMO, project detail for Bogd Bank JSC). The bank's Sustainability Report 2024 also records the US$20 million FMO agreement on the same terms.
RECORD
First publicly listed bank - DOCUMENTED
Bogd Bank, established in 2014, became the first publicly listed bank on the Mongolian Stock Exchange in December 2021 (FMO, project detail for Bogd Bank JSC; Asian Development Bank, 28 June 2024). Inside Mongolia described it in 2022 as the youngest bank in Mongolia and at that time the only publicly listed commercial bank.
20-for-1 stock split - DOCUMENTED
In November 2022 the bank announced a 20-for-1 stock split, which would result in a share price of approximately MNT 100, with the stock trading at MNT 2,036 per share at the time of the report (Inside Mongolia, 21 November 2022).
Half-year performance in 2022 - DOCUMENTED
In its first half-year report as a public company, total outstanding loans increased by MNT 54.5 billion to MNT 202.4 billion in one year, with a non-performing loan ratio of 3.3 percent, and total current and saving accounts increased by 42 percent to MNT 176.1 billion (Inside Mongolia, Bogd Bank Q2 earnings report, 2022).
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