XACBANK’S SPONSORSHIP OF THE TRADE FAIR “SMALL AND MEDIUM ENTERPRISE PRODUCTS, SERVICES AND TECHNOLOGY-2013”
The fair, designed to introduce SME developed technology, products and services to consumers and displaying them to partners and investors was held from the 7th-11th of this month at Misheel Expo Center. XacBank sponsored the fair, organized by the Mongolian Chamber of Commerce and Industry for the 17th consecutive year. XacBank supports this trade fair every year and this year we participated as an organizer.
XacBank has supported entrepreneurs with the information and knowledge sharing on the issues faced by SMW owners, such as how to access financing and source equipment.
Many entrepreneurs, who have expanded from a household business to larger production with XacBank financial support, have participated in the fair displaying their products. The results of XacBank’s work to provide support for small and medium entrepreneurs since its establishment can be seen from the successes of these businesses. During the opening ceremony of the fair, Government officials stressed the role of the banking sector in supporting SMEs, especially XacBank’s role in the diversification and expansion of the Mongolian economy and the taxpayer base.
Today XacBank clients, especially those who have been our clients for many years in the area of production expansion, demand a bundled set of financial services, not just loans. Mr. Bat-Ochir, CEO of XacBank, said that to meet these needs, the bank focuses on providing a package of financial services to SMEs. Further in speaking about the bank’s activities, he stressed, “We have a goal to create value addition, increasing the number of wealth producers and making a contribution to Mongolia’s economic development by meeting the financial needs of our clients.” In recent years, XacBank has established separate divisions for Corporate Banking and SME Banking and offering bundles of banking and non-banking financial services for each client segment.
