ULAN BATOR, May 19 (NNN-APA) – The Mongolian banking sector’s net foreign assets declined by 49.9 percent year-on-year, to reach 4.9 trillion Mongolian tugriks (1.37 billion U.S. dollars), local media reported today, citing data from the National Statistics Office (NSO).
During the period, the net domestic assets of Mongolia’s banks reached 36.6 trillion tugriks (10.24 billion dollars), which represents an increase of 29.1 percent, compared to the same period of 2024.
Meanwhile, the cumulative savings within Mongolian commercial banks demonstrated a robust performance, reaching a total volume of 21.9 trillion tugriks (6.12 billion dollars) by the end of Apr, this year.
It is noted that, the dollar savings experienced a substantial uptick, surging by 20.1 percent, while Mongolian tugrik savings exhibited a more modest increase of 17.5 percent.
Currently, there are about 1,500 branches of 11 commercial banks in Mongolia.– NNN-APA
