Regular meeting of the board of directors of Xacbank (The “BANK”)
The regular meeting of the Board of Directors of XacBank was held on 10 December 2014 in Ulaanbaatar, Mongolia. The regular meeting of the Board of Directors considered and defined the strategy for 2015-2020 and discussed the budget and action plan of the Bank for 2015. In addition, the regular meeting approved the revised internal rules of procedure of the board and the revised charters of the board standing committees. Since its founding in 2001, XacBank has created sustainable growth in the banking and financial sector of Mongolia, continuously expanding operations, and has become one of the largest systemic banks. XacBank’s vision is to become a preferred bank for a wide range of customers in the financial market providing financial solutions in the most convenient way, being dedicated to its values of People, Planet and Profit and continuing to set high standards in corporate governance and social responsibility. The Board of Directors of XacBank consists of (from left to right) Mr. Richard Ranken, Advisor of IFC, Mr. B.Batsaikhan, Director of Mongolia Opportunities Fund, Ms. Sabina Dziurman, Senior Banker of EBRD, Mr. Michael Madden, Executive Director of Ronoc Partners, Mr. Ganbold Chuluun, Chairman, Mr. James Stent, Independent Director, Mr. Shuji Irie, Deputy Head of the Investment and Operation Headquarters of ORIX Corporation, Mr. Bold Magvan, Chief Executive Officer of XacBank and Ms. N.Tselmuun, Vice President of Mongolyn Alt (MAK) Corporation (not on the picture).
