/ Jun 29, 2007

Trade and Development Bank of Mongolia signs a framework cooperation agreement with Bayern LB

Today, the representatives of the Trade and Development Bank of Mongolia (TDB) and Bayerische Landesbank (Bayern LB) have signed the Framework cooperation agreement under which the clients of TDB can finance their imports of goods and equipment from Germany and other OECD countries. The Agreement should play an important role in further developing business relations between Mongolian and German entrepreneurs and should bolster the trade between the two countries. Bayern LB was founded in 1972 and is the second largest Landesbank in Germany with total assets amounting to EUR 353 billion and in 2006 reported profits of EUR 1.35 billion. Bayern LB is active in Central/East European financial markets and has a presence in North America and Asia.


Trade & Development Bank of Mongolia is the largest bank in Mongolia in terms of assets and equity that amount to over MNT 500 billion and over MNT 60 billion respectively. TDB also is the market leader and is the most experienced bank in terms of foreign trade related business. 

The signing ceremony of the agreement was a part of the Germany-Mongolia Business Forum organised by the Foreign Investment and Foreign Trade Agency of Mongolia and was attended by Mr. Glos, Economy Minister of Germany and Mr. Bayartsaikhan, Minister of Finance of Mongolia.

Ulaanbaatar, 28 June 2007

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