XACBANK RANKS 6TH AMONG TOP-100 ENTERPRISES IN MONGOLIA
Organized annually by the Government of Mongolia and Mongolian National Chamber of Commerce and Industry, the Annual Awards Ceremony of Mongolia’s “TOP-100 Enterprises” was held at the Government House on 27 April 2017.
During the ceremony, XacBank was awarded as the 6th among the TOP-100 Enterprises for its contribution for the country’s economic development, support for local manufacturers and financing of businesses.
The Working Group of the 16th annual selection and awards comprised the representatives of the Ministry of Finance, General Department of Taxation, Mongolian Customs, Social Insurance General Office, National Statistical Office, Financial Regulatory Commission and Mongolian National Chamber of Commerce and Industry. Additionally, the TOP-100 Enterprises selections were based on the 2016 official quantitative indices issued by these organizations.
A leader in the banking sector with its corporate governance and social responsibility and operating with a renewed vision to bring world class financial services to Mongolia, XacBank provides a full range of banking products and services to 700,000 customers through its network of 86 branches across the country and latest digital channels, contributing to the country’s growth and development.
In 2016, 165 MNT billion or 58% of gross income was paid as interest to our retail and corporate depositors and funders, MNT 56 billion or 20% as salary to our 1,300 staff and as payment to local suppliers for procurement of goods and services and MNT 10 billion as tax and social security to the state budget. Overall, MNT 300 billion was generated in value creation for the economy and betterment of people’s lives.
Our lead to lower interest rates on all consumer and business loans and set zero fees for ATM cash withdrawals and transfers has not only received public appreciation but set an example for other banks.
Last year, internationally recognized magazines – Global Finance and The Banker – awarded us for the 2nd time as the “Best Bank of Mongolia” which is another evidence and assessment of our efforts.
Our success and achievement could not have been possible without trust and cooperation of our customers and partner organizations. Thank you for being with us and working together to contribute to the development of economy and communities throughout Mongolia.
XacBank – Life focused.
