On October 19, 1990, following Mongolia’s democratic revolution, the foundation of a two-tier banking system was established with the creation of Trade and Development Bank (TDB), the country’s first commercial bank. Since then, TDB has remained a pioneer, innovator, and leader in the banking and financial sector, celebrating its 29th anniversary built on the trust of its clients.Over the years, 44 commercial banks have been established in Mongolia, 24 of which have ceased operations for various reasons, leaving 13 active banks today as reliable financial partners for citizens and businesses. TDB is the first and only Mongolian company to issue bonds in the international market. Since 2003, TDB has successfully issued six bonds on global financial exchanges, injecting $1.24 billion into Mongolia’s economy through accessible financing for borrowers, significantly contributing to the nation’s economic growth.
