Golomt Bank is the leading bank in Mongolia managing around 23 per cent. of the assets of the domestic banking system. We enjoy the reputation of being the most highly regarded of all Mongolian banks, reflecting our exclusive Mongolian ownership and unique financial strengths in the form of the highest liquidity and international reserves and the most prudent loans to deposit ratio. In turn, these have resulted in Golomt Bank being granted the highest level risk rating from The Bank of Mongolia, our Central Bank, for open market operations through their swap window. We are the only Mongolian Bank which enjoys – equity related support from any of the world’s leading commercial banks through our relationship with Credit Suisse.
Golomt Bank offers the widest range of financial services and products to the corporate, institutional, small and medium enterprises and consumer markets across Mongolia.
Since its inception in 1995, Golomt Bank has been a pioneer in introducing a wide range of banking and products and services into Mongolia. As examples, Golomt Bank introduced the first “Golomt cheque” services; the first 24 hour branch service; the first Golomt MasterCard cards and Visa cards; the first Western Union Money Transfer service; the first personal current accounts, the first telephone banking service; the first internet banking service; the first Premier banking service; the first “Golden Ear” Yuan card service, the first floating interest rate deposit; the first certificates of Deposits; and, the first co-branded cards in Mongolia. You can view a complete list of all the products and services which Golomt Bank under the heading "We are pioneer" on this website.
Golomt Bank utilizes the renown international banking payment network, S.W.I.F.T, to execute our customers’ international money transfers and enjoys correspondent banking relationships with a rapidly growing number of leading international banks such as HSBC, Credit Suisse, Commerzbank, Wells Fargo, Construction Bank of China, Intesa SanPaola, Agricultural Bank of Russia, and Agricultural Bank of China. Golomt Bank continues to play a predominant role in settlements between Mongolia and foreign countries. Alone among the Mongolian banks we have established Representative offices in both Beijing and London.
The Bank became a member of MasterCard Worldwide in 1999 and issued the first charge and credit cards in Mongolia shortly thereafter. In 2000, Golomt Bank became the first fully-fledged Mongolian member of Visa International and commenced issuance of Visa cards. As the pioneer of card settlement services in Mongolia, Golomt Bank continues to lead the card sector with card transaction volumes, constituting 60 per cent. of the total card settlements of the Mongolian system. We continue that pioneering role with the recent introduction of high security EMV chip cards, photo-cards and Pay Pass cards.
We enjoy a very close relationship with Credit Suisse one of the world’s leading banks, through a convertible subordinated loan accord which is envisaged to lead a direct shareholding by Credit Suisse in of 15% approximately of the Bank’s equity capital. This constitutes the only equity investment by any leading international commercial bank within the Mongolian financial system. As further recognition of the, Bank’s leading reputation among international counterparties, Golomt Bank was selected by American Express as exclusive acquirer bank in Mongolia and by IATA (The International Air Transport Association) as exclusive Billing and Settlement Plan Bank in Mongolia.
Responding to the dynamic economic growth and prospects of Mongolia, the Bank has established dedicated investment banking a mining functions to offer the widest range of banking services to all business entities operating in and supporting the mining sector, the engine of growth for the Mongolian economy.
We are confident that Golomt Bank will remain the most reliable and strong banking partner for all your requirements in Mongolia as we constantly strive to introduce more innovative and progressive products and services and to deliver them in a timely and cost-effective manner to all our greatly valued clients. Golomt Bank was selected by The Banker, the world’s leading specialist financial publication, as the “Bank of the Year for Mongolia in 2009”.
Phone: (976) 11 311 530, 311 971
Fax: (976) 11 312 307, 311 958
Telex: 79247 GLMT MN
SWIFT: GLMTMNUB Website: http://www.golomtbank.com/