XacBank is the Best Bank in Mongolia
The Banker magazine, a flagship of international financial journalism, named XacBank the “Best Bank in Mongolia” for 2013 in its 14th annual awards ceremony which took place in London.
The World Bank, with 86 years of history and The Banker magazine, recognized by its defining criteria and evaluation of the financial sector, use the criteria for selection of the best banks of a given country. This is done by putting 5 questions in front of the banks such as financial indicators over the last 3 years, initiatives implemented, market dominance during 12-15 months, activities focused on support of small and medium enterprises and the reasons for being the best bank. The responses are evaluated by a panel of professional judges who then select the winner of the “Best Bank” award.
XacBank has met the criteria of the judges and received the award “Best Bank in Mongolia”. The main factor leading to our winning of the award was that in doing business XacBank emphasizes customer centered services. We also aim to introduce best practices from the international banking and finance sector and strive to be a leader in introducing technology based services. XacBank earned this reputation because we honor sustainability and transparency in our business operation and monitor closely the needs of our development focused customers. “As always, we will do the utmost to make a substantial contribution to the well-being of our clients, employees and community” said Mr. D. Bat-Ochir, CEO of XacBank, in his remark while receiving the award.
XacBank aims to be the most reliable source for services and partner for the private sector that forms over 80 percent of Mongolia’s economy, namely, the small and medium entrepreneurs. We fulfilled our goal of growing along with our small and medium entrepreneurs and have become an investment bank for larger companies and local producers.
XacBank offers its comprehensive package of financial services to its over 500 thousand clients through a network of 107 branches and business service centers, over 1300 merchants, and AMAR mobile banking agents operating nationwide. This has re-endorsed the bank’s professional reputation through the award received from the internationally recognized The Banker magazine.
