XacBank’s new strategic investor
Upon signing an investment agreement between TenGer Financial Group, the parent company of XacBank, and Orix Corporation, Orix Corporation of Japan has become a shareholder in TenGer Financial Group. Mr. Shuji Irie, a new member of the XacBank Board of Directors, participated in the Board of Directors meeting on September 19, 2013 representing Orix Corporation, the new strategic investor.
With this new investment, XacBank has strengthened its position further adding shareholders from a well-known global organization.
By joining into this strategic partnership with Orix Corporation, a leader in the international financial sector, in addition to strengthened business activities, Orix will raise the governance and capacity of the Mongolian financial sector to a new level.
ORIX CORPORATION
Orix Corporation (www.orix.co.jp) with its headquarters in Tokyo, Japan was established in 1964. It is a leader in providing complex financial solutions in the areas of insurance, leasing, banking and finance, real estate and tourism in 27 countries worldwide.
