Marketing Partner of the Year
The Asia Partner Meeting and Conference of MoneyGram, a leading provider of fast and low-cost international money transfers with 162,000 service points across more than 180 countries, was held last week in Bangkok, Thailand.
Representing Mongolia, B. Bayarmaa, Director of Retail Banking Department and Kh. Ankhsuren Manager of Retail Banking Department, both from Trade and Development Bank, attended the conference. During the event, MoneyGram recognized Trade and Development Bank with the “The Marketing Partner of the Year” award for its exceptional performance in promoting MoneyGram services.
The conference was attended by over 70 representatives from 22 countries, where they discussed future cooperation and new opportunities for money transfers. In addition to participants from Asian countries, representatives from the USA and the European Union shared their new marketing strategies and best management practices for MoneyGram services in their regions.
In Mongolia, Trade and Development Bank, along with other local financial institutions such as Anod, Mongol Post, Savings Bank, Erel, Ulaanbaatar City Bank, and Capitron Bank, are accredited representatives of the international MoneyGram service. These banks provide fast, efficient, and cost-effective money transfer services through all their branches and transaction centers, ensuring reliable service for Mongolian customers.
Best in banking, finance and insurance sector and won the Grand Prix
A nationwide public survey was conducted over the past two weeks to identify the best companies across various sectors of Mongolia's business community. The winners were announced on November 29 at the Misheel Expo Center. Organized by the Mongolian Institute of Marketing Management, the event featured organizations competing in 41 categories across 15 business sectors. Each sector named one “Grand Prix” winner and five “Top Companies” in each category.
In this event, evaluated through public voting, Trade and Development Bank (TDB), Mongolia's oldest commercial bank, was awarded the Grand Prix in the banking, finance, and insurance sector. This recognition reaffirms TDB’s leadership in the market and highlights its reliability, stability, and risk-free operations. Since its establishment on October 19, 1990, TDB has remained at the forefront of Mongolia's banking and finance market, contributing to the national economy with strong capital adequacy, a wide range of services, and significant operational scale.
TDB was the first bank in Mongolia to adopt the management practices of the world-renowned ING Bank, gain the trust of the Asian Development Bank and the International Finance Corporation with a 9 billion MNT investment to strengthen its capital base, and receive a commercial bank rating from the prestigious international rating agency Moody’s. Furthermore, TDB successfully raised $75 million from the international financial market as part of a $300 million Euro Medium-Term Note (EMTN) program, among other significant achievements that set an example for the industry.
Today, TDB boasts assets worth 670 billion MNT, has over 120,000 cardholders, and offers services with VISA, Mastercard, JCB, and American Express payment cards. The bank efficiently handles trade finance, foreign payments, and currency trading in partnership with over 80 financial institutions worldwide, providing services through 20 branches, 5 transaction centers, and 50 ATMs. Reflecting on 18 years of growth and development, TDB expresses its gratitude to its customers, employees, and everyone who voted for the bank. TDB remains committed to innovating and leading the market, contributing to the country’s development and the well-being of the Mongolian people.
Mongolian “Reliable Taxpayer”
The Mongolian Tax Administration has awarded Trade and Development Bank the “Reliable Taxpayer” certificate. This prestigious award is presented to organizations that consistently comply with Mongolia’s tax laws and regulations, making significant contributions to the country's budget revenue.
Best Spread Bank
The Financial Market Association of Mongolia, in collaboration with Thomson Reuters, has been publishing the UBIBOR rate (average Ulaanbaatar interbank interest rate) to international financial markets since 2007. As part of this initiative, these organizations evaluate and consistently report the base rate from 14 commercial banks in Mongolia, with the best bank being announced each year.
Our bank has been honored with the title of "Best Spread Bank" in this evaluation.
Additionally, it is important to note that the UBIBOR rate serves as the base rate for the money market, calculated as the average interest rate on Mongolian Tugrik deposits among the major commercial banks in Ulaanbaatar.
Excellent Quality of Straight through Processing Award 2008
TDB has long been Mongolia’s international gateway to the world. To facilitate fast and efficient international payments, TDB has established correspondent relationships with over 100 banks across 14 currencies. In recognition of its exceptional service, Commerzbank AG, one of Germany's largest banks, awarded TDB the “Excellent Quality of Straight Through Processing Award 2008” for its fast and reliable international transactions, particularly in Euro payments, with excellent quality.
This recognition highlights TDB's continued strength and dominance in international payments and transfers in Mongolia.