/ May 23, 2007

Trade and Development Bank of Mongolia (TDBM) ratings have been upgraded and affirmed by Moody’s Investor Services (Moody’s)

On 4 May 2007, Moody’s announced new ratings for TDBM. The Global Local Currency Deposit Ratings are raised to Ba1/Not-Prime from Ba2/Not-Prime. The Foreign Currency Deposit Ratings are unchanged at B2/Not-Prime. The Local Currency Issuer Ratings are raised to Ba1/Not Prime from Ba2/Not Prime. The Foreign Currency Issuer Ratings are unchanged at Ba2/Not Prime. The Foreign Currency Debt Ratings for senior unsecured obligations are unchanged at Ba2. The Foreign Currency Debt Rating for subordinated obligations is raised to Ba2 from Ba3. The outlook is stable.


The rating changes come as part of the Moodys’ refined ratings methodology and the bank’s outstanding performance in 2006. The Year 2006 has been a breakthrough year for TDBM as the Bank has posted a record after-tax profit of MNT 11.7 billion generated on the asset base of MNT 426 billion, with profits and assets growing almost 60% and 40% respectively. The preliminary results for the first quarter of this year promise that the 2007 would be of even better performance for the bank. As of 31 March 2007, total assets of the bank reached MNT 482 billion, total equity reached MNT 58 billion and profit after tax reached MNT 4.9 billion.


TDBM is confident that the year 2007 will even further strengthen the bank's position as market leader and will be committed to achieve highest customer satisfaction by developing and providing demand driven, valuable banking solutions for corporate, SME and retail customers.

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