/ Oct 25, 2007

International face of Mongolian banking sector

TDB has established correspondent relations with over 80 international financial institutions and has 22 correspondent accounts with the world\'s major clearing banks such as ING Bank N.V., HSBC Bank N.A., Bank of Tokyo Mitsubishi UFJ Ltd, Dresdner Bank AG, Citibank N.A, American Express Bank Ltd and Commerzbank AG. TDB is one of the key players in international trade finance business in Mongolia, as the Bank serves high profile customers in various industries such as wholesale and retail, food, energy (import of oil), mining, transportation and construction. In August 2006, TDB has become the first Mongolian bank to be included in the Global Trade Finance Program managed by the IFC. In 2006 the bank has arranged several club deals for its major corporate clients with participants first time in Mongolia, being foreign financial institutions and organizations.
Moreover the bank continued to take participations in syndicated loans issued by the banks in the CIS region. The Bank participates in various on-lending programs to support the private sector and SME development and environmental protection projects funded by the World Bank and JBIC. The Bank agreed with FIFTA in 2007 to cooperate on the development of new opportunities in FDI into Mongolia.

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