Brief Introduction

The oldest commercial bank in Mongolia, Trade and Development Bank (TDB), was initially established as a 100% state-owned enterprise. In that capacity, it served the role of Mongolia’s Development Bank by facilitating international investments, financing, and bonds. During the early 1990s, when Mongolia transitioned to a market economy, most newly established companies and enterprises became clients of TDB. Together, we have contributed to the economic growth and development of Mongolia as it stands today.

Furthermore, we have played a significant role in Mongolia’s foreign trade, industrialization, infrastructure development, energy, mining, railways, roads, power plants, and processing industries—sectors that form the backbone of Mongolia’s macroeconomic structure. Even today, we maintain our position as the largest commercial bank, commanding half of the corporate banking market share.

In 2023, six commercial banks became publicly listed companies, and their shares were traded on the stock exchange. At this historic milestone of 100 years in the banking system, these banks have achieved compliance with international standards, rules, regulations, and legal frameworks. They have successfully developed modern, open, and sustainable green banking systems, offering a full range of products and services in line with international markets.

Financial institutions are responsible for promoting Environmental, Social, and Governance (ESG) principles through broad collaboration. Trade and Development Bank recognizes the urgency of addressing challenges caused by climate change, environmental degradation, and social inequality. Therefore, we actively support and finance projects involving energy-efficient technologies, sustainable water and waste management, and green infrastructure, contributing to the transition toward a green economy.

Since Mongolia was included to the FATF Grey List, Trade and Development Bank (TDB) became the first Mongolian bank to open US dollar account. TDB has partnered with The Bank of New York Mellon to restore Mongolia’s access to the global US dollar clearing and settlement system, improving the efficiency of US dollar transactions.

By Resolution No 9 of TDB’s Representative Governing Board on February 7 of 2024, for the first time in Mongolian banking sector, a Sustainable Development Committee was established to offer support on banking operations, sustainable financing, and environmental, social and governance (ESG) matters.

In collaboration with Cargill International Organization, TDB implemented its “Boundless Dreams” project at schools and kindergartens for children with autism spectrum disorder.

As part of its long-term strategic goals, TDB actively supports small and medium enterprises, which are a key driver of Mongolia's economy. In line with this strategy, the bank partnered with Digital Credit LLC to Enhance access to finance for these businesses.

The international rating agency Standard & Poor's Ratings Services (S&P) has upgraded the credit rating of TDB to B+ Stable. This upgrade reflects the bank’s diversified loan portfolio, strong asset prudential ratios, and significant growth in retail and small medium business sectors.

TDB has successfully secured a long-term financing agreement with the U.S. International Development Finance Corporation.

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 its credit rating at B3 and improved its outlook to "Stable," as assessed by the Moody’s international rating agency
TDB secured USD 10 million in funding from the International Bank for Economic Cooperation (IBEC) for its Green Loan Program.
To mark the 20th anniversary of its partnership with Visa International, TDB officially introduced the BRITTO VISA card, featuring the artwork of renowned artist Romero Britto.
TDB signed a long-term financing agreement worth USD 15 million with the International Investment Bank.
TDB entered into a "Cooperation Agreement" with Gazprombank, which is a leading bank in the Russian Federation, to support large-scale development projects between Russia and Mongolia, ensuring banking services for their payment and contractual obligations.
TDB collaborated with Shambala Engineering Campus LLC to support the "Shambala 2056" engineering campus.
As part of its strategy to become an international bank, TDB launched the "Climate 30+ Green Recovery Program," aiming to define objectives of becoming a green bank and to implement sustainable green activities.
TDB participated in the Government of Mongolia's "10 Trillion Comprehensive Plan for Health Protection and Economic Recovery," providing MNT 76 billion in “Agriculture Support Loans” to 17 customers in the wool, cashmere, meat, flour, and leather processing sectors, accounting for 26.5% of the total portfolio.
TDB participated in the Government of Mongolia's "Gold-2" national program, approved by Resolution No. 20 on January 18, 2017, by providing 84% of the loans to the participating customers.
Under the Government's 2021 Resolution No. 311, TDB allocated MNT 100 billion for the Loan programs for financing fuel reserves for companies licensed to engage in wholesale trade and production of petroleum products.
TDB has successfully executed programs in collaboration with foreign and domestic financial institutions, including the Bank of Mongolia's " Repo Loan", ADB's "Agricultural and Rural Development Project", "Employment Creation Project", KfW financed project, and JICA’s "Two-Step-Loan Project for SMEs." The bank’s compliance with prudential ratios and international standards has ensured the success of these programs.
In 2022, TDB updated its online banking platform, allowing customers to submit online requests for Letters of Credit, Letters of Guarantee, and Overdraft.
As part of its strategy to support SMEs and corporate clients, TDB launched a new Supply Chain loan product.
Bank provided a range of consulting services to its customers aimed at reducing wait times and encouraging digital self-service, including options such as online credit lines and the ability to request various statements digitally. As a result, MNT 29.1 billion in loans were disbursed via TDB’s online banking platform by the end of the reporting year.
TDB introduced an AI- and machine learning-based customer credit scoring model, automating the bank's lending operations.
For the 5th consecutive year, TDB renewed its Standard PCI-DSS (Payment Card Industry) certification to ensure security and privacy of payment card systems, databases, networks, communications, servers, equipment, operating systems, and data security.
TDB introduced the SWIFT GPI service, allowing customers to track international transfers in real time, cancel or recall requests, shorten transaction execution times, and to receive timely transaction-related information.
TDB launched its digital TDB Wallet, allowing customers to register any bank card and make transfers without any transaction fees.
TDB led the Bank of Mongolia's initiative to implement chip technology for MNT currency cards by successfully completing third-party verification of the MNT chip card, which was integrated into operations on October 1, 2021.
TDB launched the EAPP online request system, a unified portal for receiving customer feedback.

As of June 2020, TDB has a network of 97 branches, cash offices, 271 ATMs, 9,326 POS terminals, and 2,293 skilled staff members available to assist our customers.
In April 2020, TDB launched a new online card ordering service, enabling customers to order cards remotely and have it delivered to their preferred address.

TDB was recognized as the Best Trade Financing Bank of 2019 by International Investment Bank, being the most active issuing bank in Mongolia that year;
In December 2019, TDB signed a "Memorandum of Cooperation" with the Russian Agency for Export Credit and Investment Insurance;
In October 2019, in accordance with the National Payment System Law and the relevant regulations of the Bank of Mongolia, TDB received approval as a "Clearing System Operator" and "Payment Card Processor." As a result, TDB began providing other commercial banks, NBFCs, and fintech organizations with payment systems, hardware and software, system security, and reliable operations, offering shared services thereafter;
In October 2019, TDB celebrate the five-year anniversary of its representative office in Tokyo, with distinguished guests in attendance, including representatives from the 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 leaders.
In September 2019, TDB cooperated with Huishang Bank in Anhui Province, China and successfully received CNY funding from Huishang Bank;
In August 2019, the Trade and Development Bank of Mongolia and the Agricultural Bank of China signed a Memorandum of Understanding on "RMB Trading Between the Two Countries" to foster foreign trade between the two nations.
In August 2019, SMBC Bank from Japan approved a credit line for TDB to support trade financing, enabling TDB to provide direct financing to its customers. This service allows TDB's customers to access cost-effective financing for executing quicker payments to their exporters;
Starting in July 2019, TDB launched the DAN identity login system, which includes a remote customer registration and account opening solution;
In July 2019, TDB introduced the E-account service in English on the bank's website, specifically for foreign customers;
In June and September 2019, TDB organized the "Mongolia-Japan Business Partnership Meeting" in cooperation with Japan's Chiba Bank and Mizuho Bank, enabling TDB's client companies to expand their business into the Japanese market;
In March 2019, TDB introduced to the market the microcredit products for the clients of SME and retail.
Since November 2018, in collaboration with the Japanese Crowdcredit company, we have begun raising tugrik funds through crowdfunding from the Japanese stock market.

In December 2018, TDB began offering deposit-backed loans online, available 24/7;
In November 2018, in cooperation with Shoppy LLC, for the first time in Mongolia we enabled the opportunity to purchase goods online on credit;
In November 2018, TDB introduced a loan product specifically for purchasing parking spaces;
Since September 2018, TDB has incorporated into its operations the KHUR system, the national information exchange system;
In June 2018, TDB signed a cooperation agreement to support the national Maamuu brand;

In October 2017, TDB launched an initiative in partnership with the Credit Guarantee Fund to offer discounted loans to small and medium-sized enterprises;
In September 2017, TDB introduced the first international credit gold card featuring Visa Paywave technology.
In September 2017,TDB launched ATMs for international money transfers;
In August 2017, TDB introduced the enhanced TDB Pay service, offering a completely new and user-friendly payment solution for both merchants and customers;
In August 2017, the eReg registration application was launched, integrated with the bank's core registration system, enabling mobile banking services and customer registration at the customer's location;
In August 2017, TDB introduced the MoneyGram self-service, enabling customers to send and receive payments anytime, anywhere, through ATMs and TDB Online;
In February 2017, TDB successfully repaid the CNY 700 million (USD 115 million) three-year bond issued in 2014 using its own funds, thereby enhancing its financial strength and reliability.

In July 2014, TDB successfully opened its first-ever international representative office in Tokyo, Japan.
In January 2014, for the first time from Mongolia, TDB traded CNY 700 million (equivalent to USD 115 million) offshore bonds in the international market.

In September 2013, for the first time from Mongolia, TDB signed an USD 82 million “Co-financing Loan” Agreement in the international financial market.
In October 2012, in collaboration with Bloomberg television, TDB launched "Bloomberg TV Mongolia", “…, which was a major catalyst for the development of Mongolia's media industry.

In February 2012, the world’s leading asset managers – the Goldman Sachs Group, Inc. signed an investment agreement with Trade and Development Bank of Mongolia, according to which the group company bought 4.8 percent worth of the shares of TDB.