“Global Finance” magazine names XacBank as Best Bank in Mongolia
Every year, Global Finance magazine, a global reputation identifier of banks and financial institutions, publishes a list of “world’s best banks”, and these awards have become a recognized and trusted standard of excellence. In an award ceremony held in Washington DC, US on October 14th, 2017, the magazine named XacBank as the Best Bank in Mongolia for 2017, making it the third time that XacBank has received this honor.
Established in 1987, with its headquarters in New York, USA, Global Finance magazine has a circulation of over 50,000, and readers in 180 countries. The magazine’s audience comprise mainly of Chairmen, Presidents, CEOs, CFOs, Treasurers, and other financial officers that make up over 80% of investment decisions worldwide.
To select the best banks and financial institutions, the magazine evaluates income growth, effectiveness, strategic partnerships, customer services and adaptation of new technology and innovation to their products and services.
This year, Global Finance specifically pointed out XacBank’s expansion of its Business Loan for GHG Emissions Reduction Program, which furthered the Bank’s scope of cooperation with multilateral organizations. The Program allows the Bank to bring effective long term business solutions to support energy efficiency and renewable energy development in Mongolia by giving its clients and Mongolian business owners the opportunity to install energy efficient equipment and implement processes that decrease costs and increase efficiency.
Global Finance magazine has stated that XacBank is a leader in environment and social responsibility as well as corporate governance.
XacBank would like to express its gratitude to our customers for trusting us to further cultivate Mongolia’s economic and social development.
