Introduction

Trade and Development Bank, Mongolia’s largest corporate bank, has successfully launched an IPO and officially become a publicly traded company.

For the first time in Mongolia, TDB became an official partner of the World Economic Forum. 

TDB was ranked 6th in the TOP-100 enterprises determined by the Government of Mongolia and the Mongolian National Chamber of Commerce and Industry.

According to the resolution by the Bank's Board of Directors, the additional capability compensation of employees, excluding the Executive Management, has been increased by up to 25 percent.

In order to enhance the availability of products and services, TDB, in collaboration with Golomt Bank and State Bank, has enabled card users to make cash transactions at each other's ATMs with low transaction fees. This initiative aims to provide greater convenience and cost savings for customers.

Trade and Development Bank participated in the 56th International Meeting of the Asian Development Bank held in Songdo, Republic of Korea.

In cooperation with Sky Hypermarket LLC, TDB introduced the service of receiving payments through WeChat Pay in Emart chain stores.

TDB became the first bank in Mongolia to introduce service excellence ISO:23592 and quality management system ISO9001:2015 standards.

TDB organized the International Green Finance Leadership Program 2023 event in cooperation with the Office of the President of Mongolia, Mongolian Sustainable Development Association, IFS, and IFC.

TDB organized Trade Finance Forum for the first time in Mongolia.

TDB organized NEXT SOLUTIONS networking event to support small and medium business owners.

TDB organized “MONGOLIA – JAPAN” business forum with the aim of improving the business environment and cooperation between Mongolia and Japan.

A memorandum of understanding was signed between the Bank of China  and TDB, agreeing to cooperate strategically across a wide range of areas.

TDB introduced a green business loan to the market for the first time in market in collaboration with the Credit Guarantee Fund.

TDB has started to issue mortgage loans with Credit Guarantee Fund in rural areas.

TDB, alongside with Mitsui & Co., Ltd., successfully provided funding in order to support Copper Export of Mongolia.

TDB launched HAPPY POS service, a new payment solution for merchants and local traders to the market for the first time.

Ever since Mongolia was added to the FATF grey list,  TDB became the first bank to open a US dollar account with the US bank.

TDB opened a new paperless branch

TDB fully digitalized credit services for retail customers and small and medium enterprises.

For the 4th consecutive year, TDB has successfully organized the Mongolia with Savings campaign, rewarding 250 customers with monetary incentives, 10 customers travelling abroad as a couple, and giving 1 customer a TOWN HOUSE.

TDB successfully expanded its younger clientele base by launching the Einstein card in the market and integrating e-commerce platforms into the Cashback program.

TDB launched Happy Pay program for its Britto card users and incentivized 2153 customers.

TDB has introduced new bundled product and services for corporate clients, offering a comprehensive solution that tailored to their needs and loan products secured by the export letters of credit, providing efficient financing options for their international trade activities.

TDB started the process of opening an account with DBS Bank of Singapore and successfully signed the agreement.

TDB has started offering more competitive and favorable settlement charges by negotiating Germany's Bayerische Landesbank enhancing the effecincy and cost-effectiveness of TDB’s euro transactions.

As per the request of the British bank "Crown Agents Bank", TDB opened an MNT account for USD/MNT trading and payment designated to the UK.

In line with trade finance cooperation, TDB opened EUR account with Bankinter of Spain to facilitate for settlements designated to Spain, benefiting clients engaged in trade with Spain.

TDB was the general sponsor of the "Forbes Mongolia Women's Summit 2022" forum.

TDB collaborated with the graduate students of the University of Edinburgh in Scotland to conduct research and develop guidelines "How to make a bank Green" and considerations for preparing a bank's Sustainability Report.

TDB participated in the conference of the Green Climate Fund's Global Program held in South Korea and the Global Sustainable Development Investor Conference held in the Kingdom of the Netherlands.

TDB joined with the Sustainable Finance Association of Mongolia to implement the "Readiness Program to Increase the Implementation of Sustainable and Green Financing in Mongolia" sponsored by the Green Climate Fund grant.

In collaboration with Visa International, TDB incorporated Visa Direct, which will send money transfers to international visa cards, and Visa B2B services for international money transfers for corporate businesses for the first time.

TDB organized Britto Cup - 2022 football championship for the first time involving 15 corporate clients for the first time.

TDB introduced the next series of Britto cards, the Britto Einstein card, and launched the online card pre-ordering service for the first time in Mongolia.

In cooperation with UB Smart Card Ltd., TDB has enabled its cardholders to conveniently pay for their transit fares using contactless technology to be used for public transportations in Mongolia.

TDB has re-engineered UB Smart Card Co., Ltd.’s entire student card ordering process and jointly transformed the entire card ordering and payment process into the electronic medium.

By updating the TDB Online service system, TDB increased the system's load bearing capacity and the mobile application's operating speed for more faster user experience for our clients.

TDB enabled non-cash interbank transactions through ATMs and non-cash transactions with currency conversion within the bank.

In cooperation with Golomt Bank, which enabled card holders of both banks to make cash transactions at each other's ATMs with lower fees for cost savings for customers.

TDB introduced E-wallet function in GS25’s application in cooperation with MongoliaChat LLC.

TDB introduced MPM (merchant present mode) in WeChat for e-commerce merchants who sell goods and services online and merchants who accept payments by displaying QR codes on the cash register screen.

TDB maintained the credit rating at the B3 level and improved the outlook to "Stable" by Moody's, an international rating agency.

For its green loan program, TDB obtained USD 10 million funding from the International Bank for Economic Cooperation (IBEC).

On the 20th anniversary of the cooperation with Visa International, TDB launched a new card, BRITTO VISA, in cooperation with the world-famous artist Romero Britto, whose work was printed on the card design with his official approval.

TDB signed a long-term financing agreement of USD 15 million with the International Investment Bank.

Within the framework of the strategic goal of becoming an international bank, TDB initiated the "Climate 30+ Green Recovery Program" with aims of defining the goals of becoming a green bank and to implement the global sustainable development goals.

TDB participated in the "10 Trillion Comprehensive Plan to Health Protection and Economic Recovery" program implemented by the Government of Mongolia, and provided MNT 76 billion "Agricultural Support Loans" for 17 customers operating in cashmere, agriculture, meat, flour, and leather processing sectors. This loan represents 26.5% of the total portfolio.

The Government of Mongolia approved the “Gold-2” national program by Resolution No. 20 of January 18, 1017 and the Bank financed 84% of the of the total number of customers involved in the program.

According to Resolution No. 311 of the Government of Mongolia in 2021, the "Financing Loan to Fuel Reserves for Licensed Enterprises Engaged in Wholesale Trade and Production of Petroleum Products" program was approved. TDB has allocated the funding of MNT 100 billion within the framework of the program.

In 2022, TDB upgraded its online banking platform, enabling customers to submit their requests of Letters of Credit, Letter of Guarantee and Overdrafts online.

Within the framework of the strategic goal to support small and medium-sized enterprises and corporate organizations, TDB launched a new Supply Chain Financing product in the market.

To reduce customer wait times and introduce the digital self-service, we provided comprehensive information and marketing for customers on obtaining online loans electronically. As a result, at the end of the reporting year, the customers received loans in the amount of MNT 29.1 billion using TDB online banking platforms.

TDB introduced a customer credit scoring model based on artificial intelligence and machine learning into its operations, and, thereby, automated the bank's lending operations.

For the 5^th consecutive year, TDB has re-secured the Standard PCI-DSS (Payment Card Industry) to ensure privacy and security of payment card software, system, database, network, communication, server, equipment used in banking operations and their operating system, data security, employee activity Data Security.

TDB introduced The SWIFT GPI service of the SWIFT network for international foreign transfers into its operations. This allows for customers to monitor foreign transfers in real time, call back or cancel requests, shorten the transaction execution time, and receive information related to the transaction on time.

TDB has introduced a new TDB Wallet to the online system, which enables customers to register any bank card in his/her Wallet and execute transactions without any fees.

As part of the implementation of the Bank of Mongolia's work on making the MNT currency card equipped with chip technology, TDB took the lead and successfully performed third-party verification of the MNT chip card. Starting from October 1, 2021, the domestic MNT chip card was integrated into operations.

 TDB launched The EAPP online request system, a unified portal for receiving customer feedback.

As of June 2020, we have a total of 97 branches, settlement centers, 271 cash ATMs, 9326 POS terminals and 2293 skilled personnel ready at our customers’ disposal;

In April 2020, TDB introduced a new online card ordering service, allowing customers to order a card remotely and receive it at their desired address;

TDB was named the best trade financing bank of 2019 by International Investment Bank (most active issuing bank in Mongolia in 2019);

In December 2019, TDB signed a "Memorandum of Cooperation" with the Russian Agency for Export Credit and Investment Insurance;

In October 2019, based on the National Payment System Law and the relevant regulations of the Bank of Mongolia, TDB obtained the approval of the "Clearing System Operator" and "Payment Card Processor". Hereinafter, TDB provided other commercial banks, NBFCs and fintech organizations with payment systems, hardware and software, system security and reliable operations, and started offering shared services;

In October 2019, TDB celebrated the five-year anniversary of the representative office in Tokyo, and distinguished guests, such as the representatives of Ministry of Economy, Industry and Trade of Japan, the Embassy of Mongolia in Japan, MUFG Bank, SMBC Bank, Mizuho Bank and other political and business figures were present for that celebration.

In September 2019, TDB cooperated with Huishang Bank in Anhui Province, China and successfully received CNY funding from Huishang Bank;

In August 2019, in order to support foreign tarde between two countries, a Memorandum of Understating was signed between TDB and the Agricultural Bank of China.

In August 2019, SMBC Bank from Japan approved a credit line for TDB to support trade financing, which allows TDB to provide its customer direct financing. By using this service, the customers of TDB available to obtain cost effective financing, and increased the possibility of quick payment to the exporter;

Starting from July 2019, TDB implemented the DAN identity login system with a remote customer registration and account opening solution;

In July 2019, TDB introduced the E-account service in English on the bank's website for foreigners;

In June and September 2019, TDB organized the "Mongolia-Japan Business Partnership Meeting" in cooperation with Japan's Chiba Bank and Mizuho Bank and it is enabling the clients of TDB to activate their business with Japan;

In March 2019, TDB introduced to the market the microcredit products for the clients of SME and retail. 

Starting from November 2018, in cooperation with the Japanese Crowdcredit Company, we have started to obtain fundings from the Japanese stock market in the form of crowdfunding.

In November 2018, TDB began to draw funds from the Japanese capital market in the form of crowdfunding in cooperation with the Japanese Crowdcredit Company;

In December 2018, TDB started to issue deposit-backed loans online: 24 hours a day, 7 days a week;

In November 2018, in cooperation with Shoppy LLC, we created the opportunity to make purchases through online/digital loans for the first time in Mongolia;

In November 2018, TDB introduced the loan product for the purchase of parking lots;

Starting from September 2018, TDB integrated KHUR system, the state information exchange system, in its operations;

In June 2018, TDB signed a cooperation agreement in support of the national content Maamuu brand; 

In October 2017, in cooperation with the Credit Guarantee Fund, TDB started an initiative to provide discounted loans to small and medium enterprises;

 In September 2017, TDB introduced the first international credit gold card with Visa Paywave technology. 

In September 2017, TDB introduced ATMs for foreign transfers; 

In August 2017, TDB launched the advanced TDB Pay service with a completely new and easy payment solution suitable for all merchants and buyers;

In August 2017, the eReg registration application was introduced, which is connected to the bank's basic registration program to provide mobile banking services at the customer's location and register the customer;

In August 2017, TDB introduced the MoneyGram self-service, which allows customers to make and receive payments  from anywhere and anytime using an ATM and TDB Online;

In February 2017, TDB successfully paid off the CNY 700 million (USD 115 million) three-year bond issued on 2024 with its own fund and strengthened the financial capacity and reliability;

In July 2014, TDB opened the first representative office in Tokyo, Japan;

In January 2014, Mongolia traded 700 million CNY (115 million USD) offshore bonds in the international financial market for the first time;

In September 2013, TDB signed USD 82 million "Co-financing loan" agreement from Mongolia in the international financial market for the first time. 

In October 2012, in collaboration with Bloomberg television, TDB launched "Bloomberg TV Mongolia", which opened a completely new page in the development of the media industry in Mongolia;