Today marks a historic moment for Mongolia’s banking and financial sector, as Trade and Development Bank (TDB), the country’s first commercial bank with a 30-year legacy, officially announces its merger with Ulaanbaatar City Bank, a systemic bank with 21 years of excellence in the industry.
Following the approval granted by the Bank of Mongolia on June 23, 2020, the total assets, liabilities, and properties of Ulaanbaatar City Bank, including its branches and service centers, have been transferred to TDB. Starting June 29, 2020, all customers of Ulaanbaatar City Bank will receive services through TDB.
About Ulaanbaatar City Bank
Named after Mongolia’s capital, Ulaanbaatar City Bank has been serving customers with comprehensive banking and financial solutions at a high professional standard for 21 consecutive years since 1999. It is recognized as one of the Top 100 Enterprises annually by the Mongolian National Chamber of Commerce and Industry and is classified as one of the six systemic banks in Mongolia by the Bank of Mongolia.
The Merger Advantage
In countries with highly developed financial sectors, mergers between prominent banks often aim to expand operations, enhance market presence, and increase value. Such mergers result in greater efficiency, reduced costs, and more accessible financial services, benefiting customers through flexible service options and customer-focused business models.
With this merger, TDB expands its reach to include 400 additional employees, 33 branches and service centers, and 1,900+ merchant organizations, further strengthening its network and accessibility. This strategic integration bolsters TDB’s ability to serve its customers better and align with its long-term goals of growth and proximity to clients.
This merger significantly enhances TDB's total assets, equity, profitability, and liquidity. It enables the bank to deliver greater value to customers, introduce innovative products and services, and contribute to Mongolia’s economic development.
For further details about this significant development, CLICK HERE--- ЭНД
TOGETHER TOWARDS PROSPERITY
TRADE AND DEVELOPMENT BANK