The CFI.co has named XacBank as a winner of the 2014 award for Best Corporate Governance in Mongolia
London headquartered Capital Finance International magazine recognized XacBank as a winner of the 2014 award for “Best Corporate Governance”, Mongolia.
CFI.co is an internationally reputable print journal and online resource reporting on business, economics and finance. Its award programme identifies individuals and organizations that truly add value and who demonstrate best practices around the globe.
Capital Finance International Judging Panel reviews information generated during the nomination process and draws on their members expertise to identify candidates for the award consideration. CFI then brings into focus the critical eye of combined 170 years of business leadership and experience in financial journalism to make informed award decisions. The panel place great importance on comments from nominees highlighting their key strengths and innovations.
The Judging Panel commented that,”XacBank had the foresight to plan for good governance from an early stage in the life of the business. Since its creation in 1998, Xacbank is aiming to promote a triple-bottom line vision and mission as built around the “Planet, People and Profit.”
XacBank recognizes corporate governance as the culture of it's operation and management and committed to implement a corporate governance system that puts in place structures and procedures adding to the long-term sustainability of the bank, aligning the interests of shareholders, board, management, and a wide range of stakeholders, and ensuring effective and transparent decision-making in the interests of all.
The bank is also an undisputed leader in corporate social responsibility in Mongolia. XacBank believes in creating or doing something worthwhile in the society. As part of XacBank’s many projects, Bank has implemented several programs to provide children with financial and social education which involved over 32,000 children.
The CFI.Co Award proved, that XacBank is one of the leading financial institutions in Mongolia, with good corporate governance.
About:
XacBank is one of Mongolia’s largest banks, serving Micro customers, Small and Medium-sized Businesses as well as large corporations with a range of inclusive banking, fair investment and other financial products and services. It operates in all 21 provinces and the capital city serving more than 500 thousand customers through its 107 retail and business branches as well as specialized banking outlets which includes over 500 AMAR mobile banking agents. The Bank aims to create a sustainable value for its shareholders and institutional investors, while promoting a triple-bottom line vision and mission as built around the “Planet, People and Profit.”
CFI.co, a print journal and online resource reporting on business, economics and finance, recognises that the traditional distinction between emerging and developed markets is now far less meaningful as world economies converge. Headquartered in London, the world’s most multicultural city, CFI.co brings you coverage and analysis of the drivers behind change. Combining the views of leading multilateral and national organisations with thought leadership from some of the world’s top minds – our dedicated editorial team ensure that readers better understand the forces influencing and reshaping the global economy.
